Swift Current Energy
Swift Current Energy is a Boston-based, IFM Investors-backed utility-scale solar PV and battery storage developer that finances, builds, and monetizes multi-gigawatt renewable projects across the US through 15–20 year PPAs and project divestitures to utilities, corporates, and infrastructure buyers.
- Company typePrivate
- Founded2016
- HeadquartersBoston, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Swift Current Energy does
Swift Current Energy is a Boston-headquartered, private renewable energy developer founded in 2016 that builds, finances, and sells utility-scale solar photovoltaic and battery energy storage projects across the United States. Its operational and development portfolio spans roughly 3.4 GW of solar capacity and 3.5 GWh of storage across projects including the 800 MWdc Double Black Diamond Solar in Illinois (the largest operating solar facility east of the Mississippi), the 122 MWdc Three Rivers Solar in Maine, the 150 MW/600 MWh Prospect Power battery system in Virginia, and the 2.45 GW/2.9 GWh Steel River project in Arkansas. The company is majority-owned by IFM Investors and Lookout Ridge Energy Partners, with end customers and offtakers spanning utilities (Dominion Energy Virginia), corporates (Google as both tax-equity investor and offtake counterparty), and government and institutional buyers (Cook County, CVS Health, Loyola University Chicago via Constellation NewEnergy).
The business operates two coordinated revenue streams. First, Swift Current develops projects through permitting, interconnection, and construction, financing each with a mix of tax-equity (ITC/PTC monetization — Google is a flagship investor) and syndicated project loans (Crédit Agricole CIB, Lloyds, NatWest, Société Générale, MUFG, Truist, CIBC, KeyBank, Natixis, PNC, First Citizens, NAB have all participated). Second, the company monetizes projects through 15–20 year power purchase agreements with creditworthy counterparties and through outright divestitures to independent power producers (Cypress Creek Renewables acquired Steel River for ~$4.5 billion in March 2026; Elevate Renewables acquired Prospect Power in January 2026). Project financing closed to date exceeds $1.6 billion across disclosed deals, with additional committed capital across the multi-gigawatt North American pipeline. In April 2026, Michael Arndt succeeded founder Eric Lammers as CEO; the company employs 101–250 people.
Swift Current Energy firmographics
Firmographics- Name
- Swift Current Energy
- Legal name
- Swift Current Energy
- Website
- https://swiftcurrentenergy.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Swift Current Energy is a Boston-based, IFM Investors-backed utility-scale solar PV and battery storage developer that finances, builds, and monetizes multi-gigawatt renewable projects across the US through 15–20 year PPAs and project divestitures to utilities, corporates, and infrastructure buyers.
- Ownership category
- akta.pro rank
Swift Current Energy industry classification
Industry- Product category
- Utility-Scale Solar and Battery Storage Project Development
- NAICS
- Solar Electric Power Generation (221114), Electric Power Generation (22111)
- SIC
- Electric, Gas & Sanitary Services (4900)
- akta.pro primary industry
- Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)
- akta.pro secondary industries
- Renewable Grid Interconnection & Collector Systems (Solar/Wind) (IMAFAHAD), Field Services & Repair (Troubleshooting, Corrective Maintenance, Parts Replacement) (EUAMAGAE), Utility-Scale Power Generation Asset Management (EUAEAMAA)
Keywords
Where Swift Current Energy is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Swift Current Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Operations, Personnel, Others
Revenue model
- Energy and Renewable Credit Sales: Generating revenue through 20-year power purchase agreements where power generated from solar facilities is sold to utilities, corporations, and government entities. Additional revenue from selling renewable energy credits to customers.
- Project Development and Sale: Developing large-scale solar and storage projects through permitting and construction, then selling completed projects to independent power producers and infrastructure investors at a premium as part of portfolio management strategy.
- Tax Equity Financing: Attracting tax equity investors (such as Google) who provide capital in exchange for tax benefits (ITC, PTC), with investment recovered through project economics over the contract term.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Swift Current Energy product offering
Product offeringCore offering
Swift Current Energy develops, finances, constructs, and divests utility-scale solar photovoltaic and battery energy storage projects across the United States. Projects are contracted under 15-20 year power purchase agreements with creditworthy corporate, utility, and government offtakers, with capital sourced through tax equity investors (e.g., Google) and project finance lenders, and completed projects frequently divested to independent power producers and infrastructure investors.
Product overview
Swift Current Energy is a renewable energy developer headquartered in Boston, Massachusetts, majority-owned by IFM Investors and Lookout Ridge Energy Partners. The company develops, constructs, and sells utility-scale solar and battery storage projects across the United States. Its portfolio includes operational solar facilities (Double Black Diamond Solar - 800 MW in Illinois, the largest operating solar facility east of the Mississippi), solar projects under construction (Three Rivers Solar - 122 MW in Maine), and developed projects that have been sold to other developers (Steel River - 2.45 GW/2.9 GWh in Arkansas sold to Cypress Creek; Prospect Power - 150 MW/600 MWh in Virginia sold to Elevate). The company secures project financing and tax equity from financial institutions and sells completed or near-completion projects to operational renewable energy companies.
Differentiator
Problem solved
Functional benefit
Products and services
- Double Black Diamond Solar An 800 MWdc utility-scale solar facility in Illinois, capable of powering 100,000 homes and reducing regional carbon emissions by approximately one million tons per year. The project is contracted under long-term power purchase agreements (with offtakers including Google and Constellation NewEnergy, serving Cook County, CVS Health, and Loyola University Chicago) and received construction financing exceeding $779 million with Google as tax equity investor.
- Three Rivers Solar A 122 MWdc utility-scale solar facility under construction on more than 1,100 acres in Hancock County, Maine, with over 300,000 solar panels and expected commercial operation in late 2026 under a 20-year power purchase agreement. The project is Swift Current Energy's first in Maine and secured $248 million in project and tax equity financing arranged by Crédit Agricole CIB, Lloyds Bank, NatWest, and Société Générale.
- Steel River Solar and Storage A 2.45 GW solar generation project co-located with 720 MW/2,900 MWh of battery energy storage in Arkansas. Developed by Swift Current Energy as its largest project to date, the asset was divested to Cypress Creek Renewables in March 2026 for approximately $4.5 billion, with expected completion by 2029.
- Prospect Power Storage A 150 MW/600 MWh utility-scale battery energy storage system in Rockingham County, Virginia, the largest battery storage project in Virginia and in the PJM grid region. Originally developed by Swift Current Energy with $242 million in project financing, the project is contracted under a 15-year PPA with Dominion Energy Virginia and was sold to Elevate Renewables in January 2026 with commercial operation expected in 2026.
Quantifiable outcome
- 800 MWdc Double Black Diamond Solar powers 100,000 homes and reduces carbon emissions by ~1 million tons per year
- +2 more outcomes
Companies that use Swift Current Energy
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles5 records
Swift Current Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Swift Current Energy partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Constellation NewEnergycorePurchases energy and renewable credits from Double Black Diamond Solar to serve corporate customers including Cook County, CVS Health, and Loyola University Chicago.
- Dominion Energy Virginiacore15-year power purchase agreement counterparty for Prospect Power battery storage project in Virginia.
Scale indicators12 records
Recent moves6 records
Expansion highlights5 records
Swift Current Energy competitors and assessment
Company assessmentDirect peers
- Cypress Creek Renewables: US utility-scale solar and storage developer/owner-operator. Directly comparable as a North American solar IPP; also an acquirer of Swift Current's Steel River project.
- Invenergy: Large independent developer, owner, and operator of utility-scale renewables and storage across North America, with comparable gigawatt-scale project portfolios and corporate PPA strategies.
- Clearway Energy Group: Owner-operator of utility-scale solar and wind generation plus battery storage in the US; competes for the same corporate offtakers and PPA structures as Swift Current.
- AES Clean Energy: Utility-scale solar and storage developer with multi-gigawatt US pipeline; directly comparable development-plus-sale model and corporate/utility offtake mix.
- Lightsource bp: Global utility-scale solar developer and operator with significant US activity; comparable project development pipeline, tax-equity structuring, and PPA-driven business model.
- Avantus (formerly 8minute Solar Energy): US utility-scale solar and storage developer with deep project pipeline and corporate offtake expertise; directly competes for project sales and corporate PPAs.
Broad incumbents
- ENGIE North America: Subsidiary of global utility ENGIE developing large-scale renewable projects in North America; broader portfolio but overlapping in utility-scale solar/storage development and corporate PPAs.
- EDF Renewables North America: Major international utility-owned renewables developer active in US utility-scale solar and storage; comparable in scale and offtake relationships though part of a much larger portfolio.
- NextEra Energy Resources: Largest US wind and solar developer/operator; overlaps significantly with Swift Current's utility-scale renewable development and corporate PPA business but at much greater scale.
Emerging players
- Hecate Energy: US-based utility-scale solar and storage developer with comparable project pipeline and offtake approach, though smaller in scale and primarily focused on select regional markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Swift Current Energy social profiles
Digital presenceSwift Current Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Swift Current Energy leadership team
Management profileNumber of profiles
Profiles7 records
Swift Current Energy funding detail
Funding detailFunding overview
Funding rounds9 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Swift Current Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Swift Current Energy
What does Swift Current Energy do?
Swift Current Energy develops, finances, constructs, and divests utility-scale solar photovoltaic and battery energy storage projects across the United States. Projects are contracted under 15-20 year power purchase agreements with creditworthy corporate, utility, and government offtakers, with capital sourced through tax equity investors (e.g., Google) and project finance lenders, and completed projects frequently divested to independent power producers and infrastructure investors.
Is Swift Current Energy a public or private company?
Swift Current Energy is a private company. It is classified as private equity controlled and is currently operating.
When was Swift Current Energy founded?
Swift Current Energy was founded in 2016. It employs 101 to 250 people.
Where is Swift Current Energy based?
Swift Current Energy is headquartered in Boston, United States, in the North America region.
How does Swift Current Energy make money?
Three revenue lines are on record. Energy and Renewable Credit Sales are the primary driver. The others are project Development and Sale and tax Equity Financing.
Who are Swift Current Energy's main competitors?
Direct peers on record are Cypress Creek Renewables, Invenergy, Clearway Energy Group, AES Clean Energy, Lightsource bp and Avantus (formerly 8minute Solar Energy). Broad incumbents are ENGIE North America, EDF Renewables North America and NextEra Energy Resources. Hecate Energy is listed as an emerging player.
Does Swift Current Energy have an API?
No public API is recorded for Swift Current Energy.
What industry is Swift Current Energy in?
Swift Current Energy's product category is Utility-Scale Solar and Battery Storage Project Development. Its primary akta.pro industry code is EUAMABAB, Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System), with a secondary code of IMAFAHAD, Renewable Grid Interconnection & Collector Systems (Solar/Wind). Its NAICS code is 221114 and its SIC code is 4900.