Allete finishes 330MW US solar acquisition

• The US$ 165.5 m deal marks the energy supplier's entryway into the PV industry.

US energy company Allete has actually closed the purchase of solar programmer New Energy Equity.

The US$ 165.5 m (EUR153.3 m) deal marks Allette's entrance into the solar market.

With headquarters in Annapolis, Maryland, New Energy Equity, has successfully completed greater than 250 distributed solar projects throughout the nation completing greater than 330MW.

The firm has an advancement pipeline of regarding 2GW throughout 26 states over the next three years.

Allete chair, head of state and also president Bethany Owen said New Energy Equity was a complementary fit with the business's sustainability-in-action approach.

She claimed: "We have actually been signaling our action right into the solar sector for time, and also as we consulted with New Energy Equity's leadership group we understood we had actually discovered the best firm to place us well.

" The team brings a depth of distributed and also community solar proficiency as well as experience to Allete, in addition to a tested track record of economic success.

" The enhancement of New Energy Equity boosts our strong portfolio of firms and also capabilities and also opens brand-new development possibilities as we lead the way to a sustainable energy future."

New Energy Equity also has two entirely owned subsidiaries, Impact Power Solutions and Energy Support Services.

New Energy Equity's entire group, including management, will remain in position, as will certainly the company's Maryland headquarters as well as workplaces in Roseville, Minnesota, as well as Boulder, Colorado.