Chicago-based construction firm Clayco launches solar energy business

Solar arrays, a cluster of solar panels, sit behind a fence in Bronzeville.Pat Nabong/Sun-Times file SHARE COPY LINK Share CLOSE Twitter Facebook Bluesky Email Reddit Flipboard We break down complex business news to help you understand how money moves in Chicago and how it affects you. Clayco, a Chicago-based construction firm, on Wednesday launched a new business unit to focus on large solar energy and storage projects nationwide. Clayco Power and Energy, led by Ryan Johnson, will add nearly 1,000 employees across the U.S. by 2027 and is expected to generate about $300 million in annual revenue. The new unit will provide design, engineering, construction and procurement for solar energy and battery storage to companies, utilities and other partners. Clayco is currently designing a solar and battery storage system on 350 acres in Manteno, about an hour south of Chicago. Construction is scheduled to start this June.The launch of Clayco Power and Energy comes as U.S. electricity demand is projected to grow 15% to 20% by 2030, due to the rapid growth of data centers, manufacturing facilities, electrification of transportation and residential growth, the company said. Last year, 85% of all new electric generating capacity came from solar energy and battery storage, according to Clayco.“Ultimately, solar must be part of the solution. Solar energy is the fastest type of power to bring to the market, and should be part of a multivariable approach, along with fossil fuels, natural...