What Holocene Clean Energy does

Holocene Clean Energy is a privately held distributed solar energy developer headquartered in Raleigh, North Carolina, founded in 2008 by Ralph Thompson. Following Thompson's death in January 2024, the company is led by CEO Stan Allison (previously a 35+ year investment banker) and COO Greg Peterson (former Fortune 50 Global Energy & Environmental division leader). The firm develops, finances, and operates utility-scale photovoltaic projects — primarily 1–20 MWac fixed-tilt and single-axis tracker ground-mount systems, with optional battery storage integration — for electric cooperatives, municipal utilities, generation and transmission (G&T) organizations, and joint action agencies in PJM and Southeast regulated markets (North Carolina, Virginia, New Jersey).

The company operates four integrated service lines: Project Development (site selection, land securing, entitlement, environmental permitting, utility interconnection), EPC (turnkey engineering, procurement, and construction), Project Finance (tax equity partnerships, sale-leasebacks, front/back leveraging arranged through relationships with U.S. and international investors), and recurring Operations & Maintenance plus asset management. Completed projects include Twittys Creek Solar (13.5 MWac in Charlotte County, VA under a Wholesale Market Participation agreement with Dominion Power), Johnston County I and Harvest Beulaville (sold to Duke Energy Progress under 15-year PPAs), and a portfolio of 8 projects totaling 36 MWac serving two Virginia rural electric cooperatives. The company has demonstrated 51 MW across 10 projects and publicly targets 160 MW of nameplate capacity, with Waterloo Solar (20 MWac, Prince William County, VA) currently under development.

Holocene monetizes through development fees, equity participation and project sales after tax preference periods, one-time EPC revenues, REC sales to corporate and institutional power buyers, and a smaller recurring O&M subscription base. No revenue, funding rounds, or institutional investors are publicly disclosed. Key risks include the recent founder succession, geographic concentration in the Carolinas/Virginia, dependence on a small number of utility offtakers (Duke Energy Progress, Dominion Power), and the absence of disclosed outside capital to support scaling toward the 160 MW target.

Name

Holocene Clean Energy

Legal name

Holocene Clean Energy

Website

https://holocene-energy.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Holocene Clean Energy is a Raleigh, NC-based solar developer that develops, finances, and operates utility-scale photovoltaic projects with battery storage for electric cooperatives, municipal utilities, and G&T organizations across PJM and Southeast U.S. regulated markets.

Ownership category

akta.pro rank

Product category

Utility-Scale Solar Energy Development

NAICS

Solar Electric Power Generation (221114)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)

akta.pro secondary industries

Solar Balance-of-Plant EPC (Piles/Foundations, Trenching, Combiner Networks) (EUAEADAJ), Distributed Storage (Behind-the-Meter Batteries) (EUAMAJAE)

Keywords

• Distributed solar generation
• Utility scale solar
• Renewable energy credits
• Project development solar
• Solar project finance

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Project Development: Full-service project development from land identification, entitlement, community engagement, and utility interconnection. Revenue earned through development fees, equity participation, and project sales after tax preference periods.
2. Engineering, Procurement and Construction (EPC): Turnkey EPC services for solar PV systems including major equipment procurement, engineering selection and delivery, and construction management.
3. Energy and REC Sales: Sale of renewable energy and Renewable Energy Credits (RECs) to power buyers including manufacturers, corporations, utilities, and institutions. Provides customized solutions for sustainability goals in regulated and deregulated markets.
4. Project Finance Arrangement: Arranging project financing through tax equity partnerships, sale-leasebacks, front and back leveraging. Holocene structures financing, arranges development capital, and partners for permanent financing.
5. Operations and Maintenance (O&M): Ongoing operations, maintenance, and asset management services for completed solar installations.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

Holocene Clean Energy is a distributed solar generation developer that originates, develops, structures, finances, and operates utility-scale photovoltaic systems for electric cooperatives, municipal utilities, generation and transmission organizations, and corporate power buyers. The company's three integrated service lines are Energy and REC Sales, end-to-end Project Development, and Project Finance arrangement, supported by ongoing Operations and Maintenance services for completed assets.

Product overview

Holocene Clean Energy is a distributed generation solar development company offering a platform of three integrated services: Energy and REC Sales (renewable energy attribute delivery), Project Development (end-to-end solar PV system development from site selection through interconnection), and Project Finance (capital arrangement and financing structuring). The company also provides Operations and Maintenance services for assets post-construction. Holocene has developed multiple completed solar PV projects across North Carolina, Virginia, and New Jersey, with capacities ranging from 0.5 MWac to 13.5 MWac, and maintains a development pipeline including projects in PJM territory with objectives of 160MW total capacity.

Differentiator

Problem solved

Functional benefit

Products and services

• Project Development End-to-end solar PV system development service covering community-sensitive site selection, land securing, entitlement, environmental permitting, utility interconnection, and community engagement for electric cooperatives, municipal utilities, G&T organizations, and corporate power buyers.
• Energy and REC Sales Sale of renewable energy and Renewable Energy Credits (RECs) to power buyers including manufacturers, corporations, universities, hospitals, military entities, and utilities in both regulated and deregulated markets to help clients meet sustainability goals.
• Project Finance Arrangement of project financing for solar PV systems using tax equity partnerships, sale-leasebacks, and front and back leveraging, including financial modeling, public subsidy navigation, syndication, and negotiations.
• Operations and Maintenance (O&M) Services Ongoing operations, maintenance, and asset management services for completed distributed generation solar PV installations and utility-scale solar farms.
• Twittys Creek Solar Project Utility-scale 13.50 MWac single axis tracker solar PV project in Charlotte County, Virginia, completed in 2019; energy delivered to Dominion Power grid under a Wholesale Market Participation agreement.
• Waterloo Solar Project

Quantifiable outcome

• 51 MW of distributed generation solar capacity developed across 10 projects in Virginia
• +3 more outcomes

Named customers5 records

Segments6 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

Seven partnerships are on record, tiered core and supporting.

• Alchemy Renewable EnergycoreStrategic or Co-development Partner · 1 January 2019Holocene partnered with Alchemy Renewable Energy for permanent financing, operations and maintenance of the Twittys Creek Solar project (13.50 MWac) in Charlotte County, Virginia.
• ESA RenewablescoreStrategic or Co-development PartnerHolocene collaborated with ESA Renewables on multiple rooftop solar projects. Purchased early-stage projects including ESA III New Bern (then-largest rooftop system in NC) and ESA Four Oaks Solar I.
• Conergy ProjectssupportingImplementation/ SI/ Consulting PartnerHolocene collaborated with Conergy Projects, an international solar contractor, for construction management on Four Oaks Solar I and Sarah Solar projects.
• Sunlight PartnerssupportingStrategic or Co-development PartnerHolocene acquired early development rights from Sunlight Partners for Faison Solar and Sarah Solar projects.
• Direct EnergycoreGTM or Marketing PartnerHolocene arranged energy and renewable energy credit contract with Direct Energy for the Twittys Creek Solar project, with energy hedged through Direct Energy agreement.
• Duke Energy ProgresscoreChannel Partner/ Reseller/ DistributorDuke Energy Progress is a power buyer purchasing electricity under 15-year PPAs for Johnston County I (1.9 MWac) and Harvest Beulaville (2.0 MWac) solar projects.
• Dominion PowercoreChannel Partner/ Reseller/ DistributorDominion Power receives energy delivery under Wholesale Market Participation agreement for the Twittys Creek Solar project (13.50 MWac) in Charlotte County, Virginia.

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Duke Energy Renewables: Vertically integrated utility with growing renewable generation arm that is both a Holocene customer (Duke Energy Progress PPAs) and a potential competitor in cooperative and distributed solar origination.
• NextEra Energy Resources: Largest US renewable energy IPP with broad utility-scale and distributed solar capabilities and unmatched tax equity and project finance scale; an incumbent competitor across all of Holocene's target markets.

Direct peers

• Strata Clean Energy: North Carolina-based utility-scale and distributed solar developer with a large portfolio of ground-mount and rooftop projects across the Southeast, directly overlapping with Holocene's cooperative and municipal utility GTM and geography.
• Silicon Ranch: Nashville-based distributed/utility-scale solar developer and IPP that partners with electric cooperatives, municipal utilities, and corporations under long-term PPAs — a near-identical go-to-market model to Holocene's.
• Pine Gate Renewables: National community and distributed solar developer serving utilities and corporate offtakers; comparable business model of origination, development, EPC, and project finance structuring.
• Origis Energy: Distributed and utility-scale solar developer with development, EPC, and asset management capabilities serving utilities and corporate PPAs across multiple US regions.
• Summit Ridge Energy: Community and distributed solar developer focused on projects under 20 MW with utility and cooperative offtakers, comparable project sizing and customer mix to Holocene.
• Ecoplexus: Developer of distributed solar and storage projects for utilities, municipalities, and commercial customers, overlapping with Holocene's DG-plus-storage strategy.
• ESA Renewables: Rooftop and ground-mount solar developer active in North Carolina and the Southeast, and an existing collaboration partner of Holocene on ESA III New Bern and ESA Four Oaks projects.
• Alchemy Renewable Energy: Solar developer and O&M provider that partnered with Holocene on the Twittys Creek project, offering directly comparable distributed utility-scale development and asset management services.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/HoloceneEnergy
• Facebookfacebook.com/holocene.energy
• LinkedInlinkedin.com/company/holocene-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Holocene Clean Energy