AltCrest Energy, DevEngine, and Spring Lane Capital Launch $100M Canadian Energy Investment Strategy
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,” said Ben Gilbank, Founder & CEO of AltCrest. “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.”
“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,” said Tim Callahan, CEO of DevEngine. “We are uniquely positioned to deliver value for our clients from day one.”
“The Canadian energy infrastructure market benefits from strong fundamentals,” adds Jason Scott, Partner, Spring Lane Capital. “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.”
About AltCrest Energy
AltCrest is a Toronto-based energy developer focused on helping commercial real estate owners, occupiers, and tenants to meet critical cost, competitiveness, and energy performance requirements. AltCrest delivers rooftop solar PV, geothermal, microgrid, and battery solutions under an EaaS framework, saving capital and operating expenses for its clients, while meeting their energy objectives. For more information, visit www.altcrestenergy.com
About DevEngine:
Development Engine Partners (“DevEngine”) is a project development platform incubated to support sustainable infrastructure developers with precisely the right kind of capital at the right time and with the right expertise to make projects a reality. The company has deep expertise in project development and project finance fundamentals, allowing them to unleash the full potential of renewable energy projects and bring them to fruition. DevEngine is actively seeking to partner with sustainable infrastructure developers who are looking for predevelopment capital and support to get their projects to financial close. With a commitment to innovation and sustainability, DevEngine is transforming the landscape of sustainable infrastructure projects. Visit www.devengine.dev to learn more.
About Spring Lane Capital:
Spring Lane Capital is a private equity firm based in Boston, MA and Montreal, QC, focused on providing hybrid project capital for sustainability solutions in the energy, food, water, waste, and transportation industries. The firm’s structured financial model seeks to tap into some of the fastest-growing segments of these markets that more traditional forms of project capital cannot access due to their scale and the limitations of existing investment models. For more information, please visit www.springlanecapital.com.
Media Contact
Cindy Stoller
Confluence Partners
+1 917-331-0418
cstoller@confluencepartners.com
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
