Baltimore-based Constellation Energy is making an equity investment in residential solar-energy firm Astrum Solar.
The investment, specific terms of which were not disclosed, is aimed at supporting the company’s future growth and expansion efforts.
“An investment from a highly respected Fortune 500 energy company such as Constellation … signals the beginning of a new understanding of residential solar as a stable, mature and fast-growing market whose time has come,” said Vadim Polikov, president of Astrum Solar.
“Residential continues to be a fast growing segment of the solar industry,” said Andrew Good, senior vice president of corporate strategy and development for Constellation Energy. “Astrum’;s business model aligns with Constellation’s strategy of bringing more innovative solutions to customers and complements our commercial solar business, as well as our residential solar offerings through BGE Home.”