Australian Investor Takes Controlling Stake in US-based Redball Energy and Expands into Solar-plus-Storage Business

en.Wedoany.com Reported - On November 13, Australian investment firm Wollemi Capital and Australian retail employee pension fund Rest announced that they had acquired a majority stake in US distributed energy company Redball Energy. Headquartered in Washington, D.C., Redball currently owns and operates approximately 4,500 residential and commercial & industrial rooftop solar systems, covering the Mid-Atlantic and New England regions of the United States. This investment marks Wollemi Capital's first entry into the US energy market.

Founded in 2021, Redball's business covers the development, financing, asset ownership and operation of residential and commercial & industrial distributed solar projects. Unlike companies that sell solar modules directly to users and provide installation services, Redball primarily acts as a project developer and financing partner, establishing partnerships with local solar installers to provide financing products, construction capital and payment management services for projects, and holds and operates the completed solar assets. Installation work is carried out by partner installers, while Redball is responsible for project funding arrangements and asset management.

The company uses its proprietary asset management platform and automated development and asset management processes to manage its distributed solar portfolio. According to the transaction announcement, Redball's solar asset portfolio has doubled in size every year since its founding in 2021, and currently comprises approximately 4,500 systems distributed across residential and commercial buildings. Its operating regions include Maine, New Hampshire, New York and other Mid-Atlantic markets.

The equity investment will be used for Redball's next phase of business expansion. The company plans to expand its solar installer partner network, continue growing in the Mid-Atlantic and Northeastern US markets, and add battery energy storage to its product and asset portfolio. The existing business is primarily focused on rooftop distributed solar, and energy storage is a newly announced business direction.

Rest participated in the transaction through a co-investment fund managed by Wollemi Capital. Wollemi Capital invests long-term in low-carbon transition sectors including energy, materials and land, through equity investments and project financing. This acquisition extends its distributed energy investment business from Australia to the United States. Previously, Rest had increased its investment commitment to MPower, Wollemi's Australian distributed energy and storage platform, with Rest's committed investment rising to AUD 250 million, bringing the combined capital commitment of Rest and Wollemi to the platform to AUD 350 million.