iSun invests in commercial solar developer Encore Renewable Energy
- Solar EPC company iSun is investing in US commercial PV project programmer Encore Renewable Energy as part of efforts to increase its geographic expansion.
The deal will certainly expand iSun's commercial and industrial (C&I) and utility-scale solar businesses right into brand-new markets, said the business, which is continuing its financial investment approach after being obtained by EPC Peck previously this year.
Vermont-based Encore focuses on the advancement and building and construction of solar and energy storage space projects at land fills, brownfield sites, roofs and carports.
iSun chief executive officer Jeffrey Peck praised Encore's experience in reclaiming underestimated land for tidy power generation and storage, and revitalising communities by releasing agrivoltaic projects.
"By deepening our long-standing relationship with Encore Renewable Energy, we will get vital understandings right into brand-new geographical markets which we can use to more breakthrough our C&I strategy," he claimed.
For Encore, it is expected the capital mixture from the bargain will permit it to greater than increase its project advancement pipe over the following year.
Having entered the utility-scale EPC sector with the acquisition of the intellectual property of Oakwood Building Solutions, iSun last month completed its US$ 40 million purchase of solar installer SunCommon, strengthening its placement in the United States property market.
In an upgrade published previously this month, iSun said it is continuing to check out right away accretive M&A possibilities. Increased by current bargains, the firm is anticipating 2022 earnings to be US$ 165 million.
