Energy Capital Partners (ECP) is working with financial advisor Evercore on a potential sale of its stake in community-scale solar and energy storage developer Pivot Energy, according to sources familiar with the process.

Evercore won the mandate last month, the first and second source familiar said. Marketing materials should come out in early summer, the first source said.

The owners are open to either a minority or majority stake sale, depending on if the process leads to a full sale of the business, the first and a second sources said.

Colorado-based Pivot is a national player in the development of commercial and community solar and energy storage projects. According to Pivot’s website, the company has 3.5 GW of completed or under development assets. The first source said that Pivot has 200 MW of operational assets in its portfolio.

ECP acquired Pivot Energy in 2021 for an undisclosed amount. Since inception, the asset manager has invested over USD 31bn across renewables and sustainable infrastructure. Last month, the company announced a USD 25bn partnership with Abu Dhabi’s ADQ to develop power generation to develop new power to serve the need to power data centers.

According to ECP’s website, Pivot serves the full commercial solar ecosystem, including retail customers, project developers, system operators, utilities and financiers, while also providing community solar to local governments, school districts, non-profits, low-income housing authorities and residential customers.

In November 2024, Pivot announced that it had secured two financing arrangements, including a USD 450m debt warehouse facility, to support its development pipeline.

ECP declined to comment. Pivot directed the matter to ECP.  Evercore did not respond to requests for comment.