Monetary providers and know-how firm Nelnet has acquired GRNE Photo voltaic, an EPC that designs and installs residential, industrial and utility-scale photo voltaic within the US Midwest.
The deal, which closed on 1 July, noticed Nelnet additionally purchase under-construction and working photo voltaic property from an affiliate of GRNE.
In addition to setting up initiatives usually sized at 1 – 5MW, GRNE gives battery power storage techniques, electrical automobile charging, power monitoring, and operations and upkeep providers.
The agency was established in 2012 by Jess Baker and Eric Peterman, who will proceed to steer the enterprise and retain a minority possession.
“This acquisition presents an excellent alternative for the expansion of GRNE and for Nelnet’s continued growth into the renewable power area,” stated GRNE president Baker.
Nelnet’s renewables division gives providers resembling tax fairness investing, group photo voltaic subscriptions and campus PV improvement options. The arm’s funding portfolio, together with with co-investors, spans greater than 200 photo voltaic initiatives.
Scott Gubbels, Nelnet govt director of tax and renewable power, stated the partnership with GRNE will create an answer spanning EPC providers, financing choices and subscription administration.