Dan Rittenhouse, a well-known figure in the clean energy sector, has launched Catalina Energy Capital, a specialty investment bank. The company is starting off by announcing three completed deals. Catalina recently helped SolarStone Ltd. sell a 500 MW solar and storage portfolio in the desert West. Additionally, it arranged a $130 million raise for Novel Energy Solutions, a solar and storage developer in the Midwest, from a $40 billion global asset manager.
Last week, Catalina Energy Capital successfully raised seven figures in equity and debt for Solar Collective, a commercial and industrial solar developer, from family office Current Equity Partners. The company is involved in various areas, including debt and equity capital markets, M&A, physical climate tech, manufacturing, and tax credits. Catalina emphasizes that no deal is too big or small for them.
In addition to raising capital and handling M&A at the corporate level, Catalina is set to advise on over 4 GW of solar and storage assets by the end of this year, enough to power nearly one million homes and small businesses with clean energy. There are also several deals lined up for 2025.
Rittenhouse said in a statement, “Our experience as developers, investors, lenders, and owners enables us to provide a ‘jack-of-all-trades’ suite of financial services. Establishment banks frequently employ armies of analysts, conduct drawn-out processes, and charge exorbitant fees regardless of whether clients get successful outcomes. We are a lean team of industry veterans that offer a hungry, zero-ego alternative.”
He further added, “It’s been a joy to watch the industry grow so much since I started off nearly a decade ago. Developing such a deep network of passionate founders and developers has been a lot of fun, and it’s incredibly gratifying to help make their visions a reality.”
Mr. Rittenhouse previously led the Renewable Energy division at Forest Road Company. He has played a key role in securing financing for more than 10 GW of solar, wind, and storage projects.
