Correlate Infrastructure Partners intends to acquire Vermont-based Aegis Renewable resource

Sep 14, 2022 12:02 PM ET
  • Correlate Infrastructure Partners announced a non-binding letter of intent to get Vermont-based Aegis Renewable resource. Aegis is a business, commercial and also community solar firm focused on solar project development and also EPC solutions in the eastern United States and also belongs to the Amicus Solar Cooperative Network.

Upon conclusion, Correlate's purchase of Aegis Renewable Energy will provide the firm calculated capabilities to profit from the growing Northeast renewable energy market. With know-how in simplifying energy optimization and sustainability, Correlate plans to make use of Aegis' deep governing knowledge, project fulfillment and also procedures and also upkeep capacities to deliver on as well as increase its project backlog in the area.

The Northeast renewables market is exceptionally robust. As an example, Vermont's state government established objectives to satisfy 90% of its power requires with renewable sources by 2050. Many other Northeastern states also have enthusiastic renewable targets consisting of Maine, New York, Maryland, Massachusetts and also New Jersey. An acquisition of Aegis offers Correlate prompt entrance to Vermont markets and the whole area.

" Upon completion of this essential procurement, Correlate will certainly add to its very experienced group and also will certainly bring tried and tested success to the Northeast market as a leading renewable resource project developer while creating an engaging fit for increasing Correlate's energy optimization platform," stated Todd Michaels, Correlate's CEO as well as president.

The purchase will likewise wrap up an exhaustive year-long search by Aegis.

" Our search was concentrated on locating the very best strategic fit to match our growth, society, diversification, as well as stamina of leadership objectives," shared Nils Behn, CEO of Aegis. "After turning down numerous offers from other firms we were come close to by Correlate as well as it became apparent extremely promptly that they hit the mark on all fronts. We could not be better with our decision to join their group."

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