Solvest

What Solvest does

Solvest Inc. is a vertically integrated renewable energy engineering, procurement, and construction (EPC) company headquartered in Whitehorse, Yukon, founded in 2012 by Ben Power, Drew Cameron, and Dan Guhl, with formal operations commencing in 2015. The company designs, installs, and operates solar photovoltaic systems, battery energy storage systems (BESS), microgrids, wind energy systems, and cold-climate heat pumps across Northern Canada and Alaska. Its proprietary product line centers on the PowerPod and PowerBox modular, heli-portable battery energy storage systems, designed and manufactured in the Yukon for deployment to remote sites via helicopter, addressing a logistics constraint that standard containerized BESS products cannot meet. Cumulative installations exceed 1,000 PV systems, 50 MW of solar PV capacity, and 50 MWh+ of energy storage, with major reference projects including the 3.5 MW Diavik Diamond Mine solar installation (Rio Tinto), the 1.7 MW North Klondike IPP (first on-grid IPP in Yukon), the 1.6 MW Nihtat Energy plant in Inuvik, and the 940 kW Old Crow microgrid.

The company serves four primary customer segments: remote mining operations (exploration and production camps, off-grid and diesel-displacement use cases), Indigenous/First Nations communities (microgrids, residential solar, asset-ownership and lease models through development corporations), utilities/grid operators (utility-scale IPPs and grid-tied solar), and commercial/residential customers (Yukon and Ontario). Solvest's go-to-market combines enterprise field sales for mining and government accounts, community-led engagement with Indigenous governments, and direct-to-consumer channels for residential and small commercial work. Revenue is generated through four streams: EPC services (professional services), equipment leasing (managed services, often with Indigenous partners as asset owners), long-term operations and maintenance (subscription/recurring), and IPP power generation under long-term utility contracts. Notable financial and cost signals include a North Klondike IPP LCOE of $0.055/kWh - over 4x cheaper than small hydro and 9x cheaper than diesel in the Yukon - and diesel-displacement outcomes of 80-90% at mining camp sites, with up to 1 million liters of diesel avoided annually on the largest projects.

Solvest is privately held with no disclosed external institutional investors; ownership is concentrated among the founding partners and key executives. The company has leveraged federal and territorial grant funding (notably CanNor's $99,999 CAD grant supporting the PowerPod development) and co-invests 20-25% alongside Indigenous development corporations in equipment ownership structures. Geographic reach spans Yukon, NWT, Nunavut, Northern BC, Manitoba, Saskatchewan, Ontario, and Alaska. The Ontario commercial office in Cobourg, opened to serve the Ontario commercial solar market, signals diversification beyond the historical Yukon-anchored operating base.

Name

Solvest

Legal name

Solvest Inc.

Website

https://solvest.ca

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Solvest Inc. is a Yukon-based vertically integrated renewable energy EPC company that designs, builds, and operates solar PV, battery storage, microgrids, and heli-portable power systems for remote mining, First Nations communities, utilities, and commercial/residential customers across Northern Canada and Alaska.

Ownership category

akta.pro rank

Product category

Renewable Energy EPC Services

NAICS

Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Customer Grid-Edge Enablement Services (HEMS/DR Device Integration, VPP Enablement) (EUAEANAL)

akta.pro secondary industry

Advanced Grid Integration & Control R&D (AI Forecasting, Digital Twins, Synthetic Inertia, Virtual Power Plants) (EUAMAOAG)

Keywords

• Solar PV installation
• Battery energy storage
• Remote microgrid solutions
• Renewable energy EPC
• Northern energy services

Headquarters

HQ city

Whitehorse

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. EPC Services: Engineering, procurement, and construction services for solar, battery, and microgrid projects. Includes project development, design, procurement, construction, and commissioning.
2. Equipment Leasing: Equipment ownership model where Solvest or Indigenous partners own the equipment and lease it back to mining companies or communities. Provides capital-free access for clients while generating recurring lease revenue.
3. Operations and Maintenance: Long-term operations and maintenance support for renewable energy assets, including remote monitoring and performance reporting.
4. IPP Power Generation: Independent Power Producer (IPP) agreements where Solvest develops, constructs, and operates utility-scale solar plants, selling electricity to utilities under long-term contracts.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Solvest is a vertically integrated renewable energy company that designs, supplies, installs, and maintains solar PV, wind, heat pump, and battery energy storage systems for off-grid and remote northern operations. The firm operates a full EPC service model supplemented by an equipment leasing line, a multi-year operations and maintenance offering, and independent power production. Its proprietary PowerPod product line delivers heli-portable, modular battery energy storage tailored for mining and remote community microgrids.

Product overview

Solvest is a vertically integrated renewable energy services company offering comprehensive solutions across North America. The core portfolio includes Solar PV Systems (1000+ installations, 50 MW), Wind Energy Systems, Heat Pumps, and Energy Storage/Battery Energy Storage Systems (BESS) with over 50 MW installed. The proprietary PowerPod is a modular, portable battery system designed and manufactured in the Yukon for off-grid Northern deployment. Supporting services include Engineering and Consulting (permitted in Yukon, NWT, and Nunavut) and Operations and Maintenance. Service categories span First Nations/Community projects, Commercial installations, Mining projects (including off-grid camp power), and Utility Scale projects (IPP developments). The company operates through in-house departments for engineering, design, procurement, commissioning, and operational service.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar PV Systems
• Wind Energy Systems
• Heat Pump Systems
• Battery Energy Storage Systems (BESS)
• PowerPod Modular Battery System
• Engineering and Consulting
• Operations and Maintenance
• Independent Power Production (IPP)

Quantifiable outcome

• 80-90% diesel displacement in mining camp applications
• +6 more outcomes

Named customers17 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Dena Nezziddi Development Corporation (DNDC)coreStrategic or Co-development Partner · 3 October 2024Development corporation of Ross River Dena Council that owns renewable power equipment at Fireweed Metals' MacPass Zinc Project through its subsidiary Tu-Lidlini Petroleum LP. DNDC receives partial funding from federal and Yukon governments and co-invests 20% of project costs. Equipment is leased to Fireweed for 5 years.
• Tłı̨chǫ Investment Corporation (TIC)coreStrategic or Co-development Partner · 8 July 2024Indigenous-owned investment corporation that partners with Solvest on renewable energy projects at mining sites. TIC provides workforce (approximately 25-33% of construction labor) and co-invests in project equipment. Projects include Diavik Diamond Mine (3.5MW) and Colomac Gold Project. TIC receives grant funding to purchase assets and leases equipment to mining companies.
• Buffalo River Development CorporationminorStrategic or Co-development Partner · 1 January 2024Indigenous partner representing Buffalo River Dene Nation, providing procurement and construction services for NexGen Energy's Rook 1 camp solar pilot project.
• Government of YukoncoreOthers · 1 January 2024Territorial government providing funding through Innovative Renewable Energy Initiative (IREI) and policy support including the Yukon Microgeneration Program that enables residential and commercial solar customers to sell surplus power to the grid.
• Tahltan Nation Development Corporation (TNDC)coreStrategic or Co-development Partner · 17 October 2023Development corporation owning heli-portable renewable power system at Schaft Creek copper project. TNDC provides funding and co-invests with Solvest (approximately 25%). Equipment is leased to Teck Resources and Copper Fox for seasonal camp operations. Project is the largest heli-portable renewable power system in Canada.
• Na-Cho Nyak Dun Development Corporation (NNDDC)coreStrategic or Co-development Partner · 2 August 2022First Nation development corporation that owns solar and battery equipment at Snowline Gold's Rogue Gold Camp. Purchased the renewable power system and leases it back to Snowline Gold. This structure provides direct economic impacts to the First Nation while enabling the mining company to access renewable power without upfront capital.
• Kwanlin Dün First Nation (KDFN)coreStrategic or Co-development Partner · 1 January 2022First Nation government partnered with Solvest to install solar systems on 60 citizen homes (429kW total). Solvest trained and employed KDFN citizens in solar installation. Project utilizes Federal Greener Homes Grant and Territorial Good Energy Rebate.
• Snowline GoldcoreChannel Partner/ Reseller/ Distributor · 1 January 2022Mining company that leases renewable power equipment owned by Na-Cho Nyak Dun Development Corporation. Snowline benefits from reduced diesel costs and emissions while the First Nation partner receives lease payments and economic benefits.
• ColdAcre Food SystemsminorStrategic or Co-development Partner · 1 January 2015Affiliate company founded alongside Solvest, contributing to Northern Canada's sustainable development.
• High Latitude Energy ConsultingminorStrategic or Co-development Partner · 1 January 2015Affiliate company providing specialized energy consulting services in the northern Canadian market.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• NRStor (now part of Convergent): Canadian energy storage developer and IPP with mine-site and microgrid battery storage deployments. Comparable on the BESS/energy storage integration side of Solvest's PowerBox offering and utility-scale storage execution.
• 3 Phases Renewables: Canadian renewable energy EPC with experience in off-grid and remote community solar projects, including battery storage and microgrids. Overlaps with Solvest's microgrid and storage deployments, though with a smaller portfolio of remote-northern installations.

Broad incumbents

• Aggreko: Global supplier of temporary and modular power, including diesel and hybrid (battery+solar) deployments at remote mine sites. Direct comparator to Solvest's heli-portable PowerPod/PowerBox offering and remote mining camp power, with much larger fleet and balance sheet.
• ATCO Energy / ATCO Group: Large Canadian diversified energy and infrastructure group with a dedicated remote-community and modular-housing/power business serving northern and Indigenous communities. Overlaps with Solvest's turnkey remote microgrid delivery, microgeneration, and First Nations engagement, but at much larger scale and broader portfolio scope.

Direct peers

• SkyFire Energy: Western Canadian commercial and utility-scale solar EPC with utility-scale project experience across Alberta, Saskatchewan, and BC. Comparable vertically-integrated solar EPC business model with similar engineering-led delivery to commercial, institutional, and utility customers.
• BluEarth Renewables: Canadian renewable energy developer and IPP focused on utility-scale solar, wind, and energy storage projects with First Nations co-ownership partnerships. Closely aligned with Solvest's IPP model, Indigenous partnership structure, and utility-scale solar execution.
• Helio Urban Technology: Canadian solar PV installer and developer active in Ontario and Western Canada with residential, commercial, and utility-scale projects. Overlaps with Solvest's Ontario commercial solar business (Cobourg office) and overall vertically-integrated EPC structure.

Regional players

• Qulliq Energy Corporation: Territorial utility serving Nunavut with diesel and renewable hybrid generation. Solvest's Iqaluit hotel/microgrid and Sanikiluaq wind projects are direct customer-side equivalents to QEC's grid assets; both companies operate in the same isolated, diesel-displacement market dynamics.
• ATCO Energy / Yukon Energy Corporation: Yukon's primary electrical utility with whom Solvest's North Klondike IPP interconnects. As Solvest's primary off-taker for IPP power and largest single regional counterparty, Yukon Energy is the structural demand anchor and a key comparable in terms of operating context.

Others

• Nuna Innovations / Nuna Logistics: Northern Canadian remote-site services firm providing logistics, camp services, and fuel delivery to mining operations in Yukon, NWT, and Nunavut. Adjacent enabler to Solvest's remote mine energy projects, sharing the same fly-in/fly-out logistics playbook and customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC-rUz2fq1M663Hyn0l051AA
• Facebookfacebook.com/Solvest
• LinkedInlinkedin.com/company/solvest-inc
• Instagraminstagram.com/solvestinc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Solvest