National Renewable Energy Corporation

What National Renewable Energy Corporation does

NARENCO (North American Renewable Energy Corporation) is a privately held utility-scale solar developer, EPC contractor, and Independent Power Producer headquartered in Charlotte, North Carolina. Founded in 2009, the company delivers vertically integrated services spanning engineering and design, procurement and logistics, construction and commissioning, quality assurance, and operations and maintenance. It builds ground-mounted solar farms using single-axis tracker and fixed-tilt racking systems, with a project portfolio that includes Bluegrass Solar (101 MWdc), Lily Solar (103 MWdc), Stanly Solar (69 MWdc), and Peony Solar (57 MWdc), among 60+ completed or in-flight projects totaling 800+ MW in operation or under construction across the continental United States.

The company operates three interlocking revenue streams: project-based EPC contracts (one-time construction revenue), IPP ownership of solar assets generating recurring energy sales, and long-duration O&M services backed by a 300+ MW contracted portfolio. NARENCO serves three primary customer personas — investors seeking utility-scale solar exposure, utility and project-developer clients procuring EPC services, and landowners leasing land for solar farms — and markets primarily through direct executive-led engagement rather than channel partners. Leadership comprises President/CFO Andrew Giraldo, EVP Mark Caddell (Pre-Construction & Business Development), EVP/General Counsel Adam Horner, VP of Engineering Caleb Fisher, and VP of Pre-Construction Martin Hill, supported by NABCEP-certified installers and a Director of EHS with a documented zero-incident safety record since inception.

Geographically, NARENCO has expanded from a North Carolina base into South Carolina, Georgia, Florida, Maryland, Pennsylvania, and Ohio, and has held a multi-decade repeat relationship with Duke Energy that originated with the largest Duke Energy Solar RFP of 2009. Recognition from Solar Power World and Bloomberg New Energy Finance as one of the most successful US solar construction firms, combined with an IPP model that retains long-duration asset economics, positions the company as an integrated regional operator rather than a pure construction contractor.

Name

National Renewable Energy Corporation

Legal name

NARENCO (North American Renewable Energy Corporation)

Website

https://narenco.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

NARENCO is a Charlotte-based, privately held utility-scale solar developer, EPC contractor, and Independent Power Producer. Founded in 2009, it delivers vertically integrated design, construction, and O&M services across 800+ MW of solar projects for utility clients, investors, and landowners across the eastern and mid-Atlantic United States.

Ownership category

akta.pro rank

Product category

Utility-Scale Solar Development and EPC Services

NAICS

Solar Electric Power Generation (221114)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industries

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Utility-Scale Power Generation Asset Management (EUAEAMAA)

Keywords

• Utility-scale solar
• Solar EPC services
• Independent power producer
• Solar operations maintenance
• Renewable energy development

Headquarters

HQ city

Charlotte

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Independent Power Producer (IPP): Developing, owning, and operating a portfolio of solar projects that generate power and revenue through energy production and sales
2. Flexible EPC Contracts: Engineering, procurement, and construction services for solar projects - both single large projects and multiple small ones. Revenue generated through project-based contracting.
3. Operations & Maintenance Services: O&M services for solar installations with real-time monitoring, production analysis, and comprehensive reporting. 300 MW contracted O&M portfolio.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

NARENCO develops, owns, and operates utility-scale solar farms as an Independent Power Producer (IPP), and delivers engineering, procurement, and construction (EPC) plus operations and maintenance (O&M) services to external clients. The company manages the full project lifecycle from system design through long-term asset operations across multiple U.S. states.

Product overview

NARENCO offers utility-scale solar installation services through a vertically integrated model, encompassing engineering & design, procurement & logistics, construction & commissioning, quality assurance, and operations & maintenance. The company develops, owns, and operates solar projects as an Independent Power Producer (IPP) while also providing flexible EPC services for external clients. Their portfolio includes completed solar projects such as Bluegrass Solar (101 MWdc), Lily Solar (103 MWdc), Stanly Solar (69 MWdc), Peony Solar (57 MWdc), and others, totaling over 800 MW in operation or under construction.

Differentiator

Problem solved

Functional benefit

Products and services

• Utility-Scale Solar Installations

Quantifiable outcome

• Over 100,000 homes powered by completed solar installations
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Duke EnergycoreStrategic or Co-development Partner · 1 January 2009Strategic partnership where NARENCO won Duke Energy's largest Solar RFP in 2009 and subsequently completed multiple projects for Duke Energy including their Florida subsidiary's largest solar PV project in 2017. Duke Energy represents a key repeat client relationship spanning over a decade.

Scale indicators6 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Mortenson Construction: Large national EPC contractor with a dedicated renewable energy group executing utility-scale solar, wind, and energy storage projects across the US. Comparable as a direct competitor for utility-scale solar EPC RFPs and as a benchmark for vertically integrated delivery models.
• McCarthy Building Companies: Established national builder with a Solar & Emerging Renewables group delivering utility-scale solar EPC for developer and utility clients. Directly competes with NARENCO on mid- and large-scale solar farm construction.
• Blattner Energy (Quanta Services): One of the largest US renewable energy EPC contractors, now part of Quanta Services, executing utility-scale solar, wind, and storage. Comparable for project scale, technology deployment, and customer relationships with major utilities.
• RWE Clean Energy (formerly Con Edison Clean Energy Businesses): Developer, owner, and operator of utility-scale solar and storage assets in the US, including acquired RECo and Con Edison CEB portfolios. Comparable as an IPP competing for land, PPAs, and IPP ownership opportunities overlapping with NARENCO's IPP strategy.
• EDF Renewables North America: Utility-scale renewable energy developer, owner, and operator with significant solar, wind, and storage portfolios in the US. Comparable for IPP model, utility PPA structures, and competitive RFP participation.

Direct peers

• SOLV Energy: Pure-play utility-scale solar EPC contractor specializing in projects typically 50 MW and larger across the US. Highly comparable in business model, customer profile (developers/IOUs), and project delivery approach to NARENCO.
• Swinerton Renewable Energy: Solar EPC subsidiary of Swinerton focused exclusively on utility-scale PV and storage projects across the US. Direct competitor for similar RFPs and shares NARENCO's vertically integrated EPC-plus-services approach.
• Strata Solar: North Carolina-based utility-scale solar EPC and developer with strong Southeastern US footprint. Comparable in geography, scale (hundreds of MW delivered), customer mix, and vertically integrated service offering.
• Cypress Creek Renewables: Independent solar developer and IPP focused on utility-scale projects across the US, particularly in the Southeast. Comparable in business model combining development, EPC execution, and long-term asset ownership.
• Pine Gate Renewables: Utility-scale solar developer, EPC, and IPP with a strong Southeastern and Mid-Atlantic US footprint. Comparable for project scale, IPP ownership strategy, and overlap with NARENCO's core customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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 Energy Corporation