Marathon Capital, LLC (“Marathon Capital”) is pleased to announce Perch Energy, a clean energy technology platform and community solar servicer that connects solar developers with consumers, has closed a $30 million investment from Nuveen, the $1.1 trillion asset manager of TIAA and one of the world’s largest real estate investment managers. Marathon Capital acted as Perch’s exclusive financial advisor for the transaction.
This Series B growth investment from Nuveen’s Private Equity Impact team will support the continued development of Perch’s leading clean energy tech platform, fund expansion into new sales channels, products, and community solar markets, scale operations and customer care services, grow management talent, and fund strategic partnerships.
The partnership will also provide Perch with access to Nuveen’s strategic portfolio of affordable housing units and residential apartments. Reaching low-to-moderate-income (LMI) consumers is key to democratizing solar energy and ensuring that the clean energy future is equitable. Nuveen’s established real estate portfolio combined with Perch’s scalable and easy-to-use service will help get community solar to more households who stand to benefit most.