Denver-based community developer SunShare is exploring a capital raise and has hired CohnReznick Capital as financial advisor, according to a teaser seen by SparkSpread.

The process, launched this month and nicknamed “Project Peregrine,” will explore the sale of up to a 100% equity stake in the company.

SunShare confirmed the process but declined to comment further. CohnReznick did not respond to inquiries seeking comment.

Founded in 2011, SunShare is an end-to-end developer focused on greenfield community solar garden (CSG) development, according to the teaser. The firm, led by founder and CEO David Amster-Olszewski, has 150 MW of projects developed or under construction across nine states and an additional 700 MW development pipeline. Future campaigns will be launched across 10 states, according to the teaser.

SunShare transitioned to a long-term asset ownership model in 2018, the teaser states. In September 2020, SunShare launched a corporate-level equity raise that resulted in a USD 30m equity investment from Ember Infrastructure.

The platform is positioned to capitalize on incentives in the Inflation Reduction Act, according to the teaser.

SunShare aims to close the transaction during 1Q23 following the two-round process.