National Renewable Solutions

What National Renewable Solutions does

National Renewable Solutions (NRS) is a US utility-scale renewable energy developer and Independent Power Producer (IPP) headquartered in Minnetonka, Minnesota. Founded in 2011 and acquired by BlackRock Real Assets' Climate Infrastructure Group in mid-2021, NRS originates, develops, finances, constructs, owns, and operates wind, solar, and battery energy storage projects across 15 states with an active development pipeline exceeding 3 GW and more than 1.2 GW of commercialized operating projects. Its flagship asset, Shallow Basket Energy, is a 140 MWac solar plus 50 MW Tesla Megapack 2XL battery storage facility on Jicarilla Apache Nation land in Rio Arriba County, New Mexico, which reached commercial operation in August 2025 and supplies power to 38,000 homes annually under a 100% offtake PPA with Guzman Energy.

The company's underlying technology stack combines utility-scale wind, solar PV, and grid-forming battery storage from top-tier OEMs (notably Tesla Megapack 2XL units manufactured in Lathrop, California), with project-level engineering, procurement, and construction delivered through partners such as Gridworks. NRS differentiates through a Community Advisory Board model that embeds local landowners and community members into project governance — a model it has used to secure one of the largest renewable installations on US tribal land. Revenue is generated primarily through long-term Power Purchase Agreements (PPAs) with utilities, municipal and rural electric cooperatives, and large corporate buyers, supplemented by occasional development-stage project sales (e.g., the 7.6 MW Presque Isle community solar portfolio sold to Nautilus Solar Energy in 2022) and origination services.

Go-to-market is enterprise field sales combined with a community-led engagement model: NRS directly negotiates off-take contracts with utilities, cooperatives, and corporate buyers, while running proactive stakeholder programs (advisory boards, landowner outreach, county fair presence) to secure land access and social license. Capital markets support is provided by BlackRock Real Assets at the equity level and by a syndicate of project lenders including Deutsche Bank, MUFG, NORD/LB, Siemens Financial Services, and Zions Bancorporation. Customer concentration is meaningful — Guzman Energy alone takes 100% of Shallow Basket output — and revenue is not publicly disclosed.

Name

National Renewable Solutions

Legal name

National Renewable Solutions

Website

https://natrs.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

National Renewable Solutions is a BlackRock-backed utility-scale renewable energy developer and independent power producer that develops, owns, and operates wind, solar, and battery storage projects across the US, selling power under long-term PPAs to utilities, cooperatives, and corporate buyers.

Ownership category

akta.pro rank

Product category

Utility-Scale Renewable Energy Generation

NAICS

Electric Power Generation (22111), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

PPA Origination, Structuring & Offtake Contracting (Physical/Financial, Sleeves) (EUAMAMAD)

akta.pro secondary industries

Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Hybrid PPAs (Renewables + Storage) & Firm Renewable Products (EUAGADAI), Permitting, Environmental & Stakeholder Engagement (EIA/ESIA, Community Relations) (EUAMAAAB), Hybrid Renewable Systems & Co-Optimization R&D (Solar+Wind+Storage, Multi-Resource Plants, Controls) (EUAMAOAI), Distributed Generation (DG) Solar & Small Wind (EUAMAJAD), Renewable Energy Infrastructure (FSAAAKAG)

Keywords

• Utility-scale renewable energy
• Wind power development
• Solar energy projects
• Battery storage systems
• Independent power production

Headquarters

HQ city

Minnetonka

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Power Purchase Agreements (PPA): NRS sells 100% of power and associated renewable attributes (RECs) generated by projects through long-term PPAs with utilities, municipalities, cooperatives, and corporate buyers. This is the primary revenue stream.
2. Project Development and Ownership: NRS develops, finances, constructs, and operates renewable energy projects as an Independent Power Producer (IPP), earning revenue from energy generation and capacity sales over the project lifecycle.
3. Project Sales: NRS occasionally sells development projects to strategic buyers, as demonstrated by the sale of 7.6MW community solar portfolio to Nautilus Solar Energy in Maine.

Go-to-market motion3 records

Distribution channels1 record

Marketing channels6 records

Core offering

National Renewable Solutions is an Independent Power Producer that originates, develops, finances, owns, and operates utility-scale wind, solar, and battery energy storage projects throughout the United States. NRS sells 100% of the power and associated renewable energy credits generated by its projects through long-term Power Purchase Agreements to utilities, municipalities, cooperatives, and corporate buyers. The company has commercialized over 1.2 GW of projects and maintains an active development pipeline exceeding 3 GW, including its flagship Shallow Basket Energy project (140 MW solar + 50 MW storage) on Jicarilla Apache Nation land in New Mexico.

Product overview

National Renewable Solutions (NRS) is a renewable energy independent power producer (IPP) that originates, develops, owns, and operates utility-scale wind, solar, and battery storage projects throughout the United States. The company's product portfolio centers on three core offerings: Wind Energy Projects, Solar Energy Projects, and Battery Energy Storage (BESS) systems. NRS operates a community-based stakeholder engagement model, establishing advisory boards with local landowners and community members for each major project. The company's flagship project is Shallow Basket Energy, a 140 MWac solar plus 50 MW battery storage facility on Jicarilla Apache Nation tribal land in New Mexico. NRS has commercialized over 1.2 GW of renewable projects and maintains an active development pipeline exceeding 3 GW. The company was acquired by BlackRock Real Assets in 2021 and has transitioned to owning and operating projects as an IPP, with off-take origination services provided to utilities, municipal cooperatives, and corporate buyers.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Shallow Basket Project powers 38,000 homes annually
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core, notable and minor.

• Guzman EnergycoreStrategic or Co-development Partner · 1 September 2023Guzman Energy executed a power purchase agreement for Shallow Basket Project, purchasing 100% of power and renewable attributes. Guzman Energy will operate and manage the battery storage system, including scheduling charging and discharging of stored energy.
• Nautilus Solar EnergynotableChannel Partner/ Reseller/ Distributor · 1 November 2022Nautilus Solar Energy acquired a 7.6MW community solar portfolio of two projects in Maine from NRS. Nautilus operates and manages solar farms in 10 states and is responsible for financing, development, maintenance, and customer subscriptions.
• Jicarilla Apache NationcoreStrategic or Co-development PartnerJicarilla Apache Nation leases its land for the Shallow Basket Project and benefits from power produced through wholesale supply agreement with Guzman Energy. The project is one of the largest renewable energy installations on tribal land in the United States.
• GridworkscoreImplementation/ SI/ Consulting PartnerAlbuquerque-based Gridworks served as the engineering, procurement, and construction (EPC) provider for the Shallow Basket Project, completing construction of the 140 MW solar and 50 MW battery storage facility.
• Mahoosuc Land TrustminorStrategic or Co-development PartnerNRS partnered with Mahoosuc Land Trust in Bethel, Maine, contributing $25,000 towards the ongoing expansion and maintenance of the MLT Pollinator Garden and its Habitat for All outreach program as part of community engagement for the Bethel Solar Project.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• EDP Renewables (EDPR): Global utility-scale wind, solar, and storage IPP with significant US operations. Multiple NRS executives (CEO Bill Whitlock, COO Mike Peck, CDO Afton Horne) previously led development and operations at EDPR, making it the closest direct comparable in scale, technology mix, and operating geography.
• Invenergy: Privately held US-based renewable energy developer and IPP active in wind, solar, and storage across North America. SVP Construction Nicholas Halley previously led complex capital-intensive projects at Invenergy, providing direct talent and operating model overlap with NRS.
• Orsted: Global leader in offshore and onshore wind plus solar and storage development. CDO Afton Horne previously headed onshore development at Orsted North America, overseeing the US development pipeline; both companies target utility-scale renewable IPP economics.
• Apex Clean Energy: US-based utility-scale wind, solar, and storage developer and IPP with multi-gigawatt pipeline. Comparable in focus on greenfield origination, community engagement, and hybrid project structures, and competes directly for utility PPAs and corporate offtake.
• Avantus (formerly 8minute Solar Energy): US-based solar developer and IPP with a significant operating and development portfolio across the Southwest. Comparable in the developer-to-IPP transition, hybrid solar+storage expertise, and project-level offtake structuring.
• Clearway Energy: US renewable IPP and yieldco with operating wind, solar, and storage assets. Comparable as an owner-operator of contracted renewable assets generating long-term PPA cash flows, although Clearway is publicly listed and far larger.
• Lightsource bp: Global solar developer and IPP with significant US operations focused on utility-scale projects and PPA origination. Comparable in solar-led utility-scale development, offtake structuring, and hybrid storage integration.
• Nautilus Solar Energy: US-based community and utility-scale solar developer operating in 10 states. Acquired NRS's 7.6 MW Presque Isle community solar portfolio in Maine, demonstrating direct transactional overlap and similar distributed/community solar focus.
• Summit Ridge Energy: US-based solar developer and owner-operator. Partnered with NRS on the Bethel Solar Project, indicating direct project-level interaction and similar community-scale solar plus storage development focus.

Broad incumbents

• NextEra Energy Resources: Largest US renewable energy IPP and a subsidiary of NextEra Energy. Overlaps with NRS in utility-scale wind, solar, and storage project development and PPA origination, but at much larger scale and with regulated-utility parent capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/national-renewable-solutions

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Renewable Solutions