Nelnet strengthens renewables department with GRNE Solar procurement

Jul 6, 2022 04:04 PM ET
  • Financial services as well as technology business Nelnet has actually acquired GRNE Solar, an EPC that develops and installs property, industrial and utility-scale solar in the US Midwest.
Nelnet strengthens renewables department with GRNE Solar procurement
Image: Sunnova

The deal, which closed on 1 July, saw Nelnet additionally buy under-construction and operating solar assets from an associate of GRNE.

As well as creating projects generally sized at 1-- 5MW, GRNE offers battery energy storage systems, electrical vehicle billing, power tracking, and operations and also upkeep services.

The firm was developed in 2012 by Jess Baker and Eric Peterman, who will certainly remain to lead business and also maintain a minority ownership.

"This acquisition provides an exceptional chance for the development of GRNE and also for Nelnet's continued development into the renewable energy room," stated GRNE president Baker.

Nelnet's renewables division supplies solutions such as tax obligation equity investing, community solar subscriptions and university PV advancement solutions. The arm's financial investment portfolio, including with co-investors, spans more than 200 solar projects.

Scott Gubbels, Nelnet executive director of tax obligation and renewable energy, said the collaboration with GRNE will create an option spanning EPC services, financing offerings as well as subscription administration.

Solar Installers, Manufacturers