Boston-based solar energy company Nexamp is significantly expanding its presence in Chicago, solidifying its strategic growth within Illinois, the company’s fastest-growing market. This expansion marks Chicago as Nexamp’s second headquarters, established in January 2024 with an office located at 101 N. Wacker Dr., nearly tripling its space from its initial five employees in 2019. Now employing over 80 individuals – a considerable increase from the initial team – Nexamp’s Chicago operation represents a key investment in the state’s clean energy future. The company’s decision to establish its second headquarters in Chicago was driven by Illinois’s supportive policies under Governor JB Pritzker’s Climate and Equitable Jobs Act, which aims to fuel the state entirely with clean energy by 2050. Nexamp’s CEO, Zaid Ashai, emphasized the state’s alignment with the company’s vision, stating, "Energy is a fundamental right for all of us."

Since 2018, Nexamp has invested half a billion dollars in Illinois, with plans to scale up to $3 billion, reflecting the company’s commitment to the region. Angela Tovar, chief sustainability officer for Chicago’s Department of Environment, highlighted the "testament to the values we have in common," including "creating jobs and economic opportunity and transitioning away from fossil fuels." Mayor Brandon Johnson and Pritzker’s unwavering support further underscores this commitment.

Nexamp’s journey to Chicago began in 2018 following the Future Energy Jobs Act, a pivotal piece of legislation signed in 2016 by former Governor Bruce Rauner. This Act, which set a goal to reach 25% renewable energy by 2025, jumpstarted community solar and accelerated decarbonization. Nexamp’s initial five employees in Chicago quickly grew, and the company now serves approximately 17,000 customers across Illinois through its community solar program. This innovative approach, known as "shared solar," allows individuals, businesses, and municipalities to subscribe to solar farms, receive credit for the energy generated, and save on electricity bills, particularly benefiting low- to moderate-income residents.

Nexamp has recently completed and activated 19 new solar farms across Illinois, generating approximately 65 megawatts of energy, with a total of 49 operating projects and 91 more projects currently underway. These projects create hundreds of contractor jobs. Nexamp’s overall impact extends beyond Illinois, with over 300 solar projects in a dozen states, generating more than one gigawatt of energy, and an additional 175 projects under construction.

However, the company faces challenges, including potential disruptions caused by recent federal policy changes, such as President Donald Trump’s One Big Beautiful Bill, which threatens to reduce solar energy incentives and could lead to a 14% collapse in Illinois’s solar market by 2030. Nonpartisan business group E2 estimates that over 830,000 clean energy jobs nationwide could be lost by 2030 due to these policies. To mitigate these risks, Nexamp has proactively adapted its financing, procurement, and construction approaches, secured record levels of financing from Macquarie Asset Management and Nomura, partnered with U.S. manufacturers to secure supply chains, and streamlined processes to speed up construction. Recognizing the increasing demand for electricity, Nexamp is focused on shortening development cycles and rethinking traditional project delivery methods. "One of the biggest challenges facing energy developers today is time," Ashai stated. "That pressure is forcing companies like Nexamp to shorten development cycles and rethink traditional approaches to project delivery."