TORONTO, Dec. 01, 2025 (GLOBE NEWSWIRE) — AltCrest Energy ("AltCrest"), Development Engine Partners ("DevEngine"), and Spring Lane Capital ("Spring Lane") are pleased to announce the launch of a strategic partnership to invest $100 million CAD into the rapidly growing distributed energy resource ("DER") sector across Canada.
The joint venture will focus on developing and owning DER systems, including rooftop solar PV, geothermal, microgrid, and battery energy storage systems, servicing institutional real estate owners and large corporate entities seeking cost certainty and sustainable energy solutions. Each solution is offered under an Energy-as-a-Service ("EaaS") model, under which the joint venture funds 100 per cent of development and construction. This structure eliminates land or building owners' upfront capital burden, delivers immediate utility savings, and provides an on-site hedge against rising grid energy prices.
The team has already seeded its pipeline with a mix of assets and project development agreements secured with leading institutional real estate owners and major corporate partners.
"As electricity demand continues to grow, driven by the increase in AI data centres, onshoring of manufacturing, and adoption of electric vehicles, there is a significant increase in demand for power, causing scarcity of energy and increasing electricity prices. DERs play an increasingly significant role in providing owners, tenants, and users with power availability, cost certainty, and in many cases, significant savings, to ensure successful operations."Ben Gilbank, Founder & CEO, AltCrest Energy
"The team of DevEngine, AltCrest, and Spring Lane brings a compelling mix of capital and deep expertise from the energy and real estate sectors to execute on this program. We are uniquely positioned to deliver value for our clients from day one."Tim Callahan, CEO, DevEngine
"The Canadian energy infrastructure market benefits from strong fundamentals. Distributed energy resources provide substantial benefits that help meet grid energy requirements and contribute to advancing the new energy transition. Furthermore, the Canadian government continues to support the growth of renewable energy systems from a policy perspective, making Canada an attractive market to operate and deploy capital."Jason Scott, Partner, Spring Lane Capital
About the Companies
AltCrest Energy is a Toronto-based energy developer assisting commercial real estate owners with their cost and energy performance requirements through rooftop solar PV, geothermal, microgrid, and battery energy storage solutions offered under an Energy-as-a-Service framework.
DevEngine is a project development platform supporting sustainable infrastructure developers with the capital and expertise needed to advance renewable energy projects toward financial close.
Spring Lane Capital is a private equity firm based in Boston and Montreal providing hybrid project capital for sustainability solutions across the energy, food, water, waste, and transportation sectors.