US personal fairness investor Denham Capital stated on Friday that it has closed the acquisition of New Jersey-based agency Solops LLC, a developer, financier, proprietor and operator of photo voltaic PV programs within the business and industrial (C&I) sector.
Denham will assist Solops’ progress, together with the execution of its 800-MW-plus undertaking pipeline with an preliminary funding of USD 200 million (EUR 187.1m).
The Solops administration workforce has collectively developed and constructed over 3 GW of C&I photo voltaic initiatives throughout 29 US states and closed on financing in extra of USD 2.1 billion, in keeping with Denham.
“Solops is a great opportunity for Denham Sustainable Infrastructure’s newest fund to help execute on our “buy and build” technique, the place we’re supporting the expansion of companies led by business consultants,” stated Justin DeAngelis, accomplice and co-head of sustainable infrastructure at Denham Capital.
“We have been supporting global investment in utility scale solar PV for over 15 years and Solops is our first investment in the distributed generations space, where we see lots of opportunities not only in the US but globally.”
“Under this new ownership, Solops now becomes an independent power producer giving it full control over the entire project life cycle in order to implement the Solops best practice policies and procedures which have been highly successful over the past twelve years,” added Matthew Rosenblum, CEO and co-founder of Solops.
(USD 1.0 = EUR 0.935)
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