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NRG Energy, Inc. (NYSE: NRG) announced Monday that it has purchased the San Francisco-based solar energy company, Solar Power Partners.
NRG has not released the terms of the deal. Bloomberg Businessweek says the “… acquisition will add 30 megawatts of distributed solar projects in operation or under construction to its portfolio.”
The press release says NRG will also have the development rights to Solar Power Partners’ development projects in California, Hawaii, Arizona, Connecticut, New Mexico, Massachusetts, New Jersey, Ontario and Puerto Rico. Solar Partner Partners’ sites range from grocery stores and hospitals to universities and airports.
“With California’s goal to install 12,000 megawatts of distributed generation by 2020, and the increase in smart energy choices American businesses are demanding, this acquisition will place NRG at the head of the pack as the solar industry moves toward smaller solar projects that connect directly to the grid,” said Tom Doyle, President, NRG Solar.
NRG is based in Princeton, New Jersey and has been searching for a way to expand their smaller solar systems market. “NRG Solar is currently developing or building more than 2,000 megawatts of solar energy projects, according to a statement released today, reports Bloomberg Businessweek.
That’s all for now,