Ameresco, a renewable energy company, has acquired TerraNavigator, a California-based company engaged in the origination and development of solar assets in the US.
With this acquisition, Ameresco will expand its pipeline of potential renewable energy projects with a focus on converting these project opportunities into operating assets that the company will own and operate.
Ameresco EVP Lou Maltezos said: “We are excited to bring TerraNavigator into the Ameresco family.
“In addition to their pipeline of project opportunities, the TerraNavigator team brings experience and knowledge in the renewable energy industry that adds to our existing expertise and represents an ideal fit with Ameresco’s strategy.
“We look forward to advancing our footprint and capabilities in California and the Central and Northwest U.S.A. as we continue to execute on the Company’s strategy in the distributed energy resource space.”
As part of the transaction, Ruben Fontes, formerly CEO of TerraNavigator, has joined Ameresco as Senior Vice President, Large Scale Distributed Energy Resources.
Fontes said: “Our team could not be more pleased by this partnership. We look forward to integrating our platform seamlessly into the Ameresco suite of value-driving, customer-focused solutions that are focused on and guided by clean energy and sustainability.”
Source: Company Press Release