The Ontario Municipal Employees Retirement System (OMERS) is in advanced talks to sell Navisun to Catalyze, according to three sources familiar with the situation.

The sale process is ongoing, one of the sources noted.

Infralogic reported in April 2025 that OMERS launched a sale process for Hingham, Massachusetts-based Navisun with Marathon Capital acting as financial advisor.

Toronto-based OMERS acquired Navisun, a solar distributed generation (DG) developer, from Ares Management in 2022. Navisun closed up to USD 235m in debt financing in 2023.

Navisun has 46 operating and in-construction projects across seven states, comprising 147 MW in total capacity, one of the sources said. The company also has a greater than 300 MW development pipeline, the source added.

Houston-based Catalyze was founded in 2017. The company develops community and DG solar and battery energy storage projects.

OMERS and Navisun declined to comment. Marathon and Catalyze did not respond to a request for comment.