Correlate Infrastructure Partners, a US-based energy technology company, has signed a non-binding letter of intent to acquire Aegis Renewable Energy, a solar energy company. This deal is intended to expand presence of Correlate Infrastructure Partners in the renewables market of the north eastern region of the United States.
Aegis Renewable Energy develops solar energy projects and offers engineering, procurement and construction (EPC) services for the solar energy assets in the eastern region of the United States.
This acquisition will allow Correlate Infrastructure Partners to make use of regulatory knowledge, project fulfilment, and operations and maintenance (O&M) capabilities of Aegis Renewable Energy.
Todd Michaels, president and CEO of Correlate Infrastructure Partners, said after completion of the acquisition, the company will add to its highly experienced team, and will bring proven success to the north east US market as a leading renewable energy project developer while creating a compelling fit for expanding energy optimisation platform of Correlate Infrastructure Partners.
Correlate Infrastructure Partners said the deal will support its aim to become a leading provider of clean energy, and grid optimisation services across of all North America. The deal will also conclude year-long search of Aegis Renewable Energy for a parent company.
Nils Behn, CEO of Aegis Renewable Energy, said their search was focused on finding the best strategic fit to match their growth, diversification, culture, and strength of leadership goals.
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