sPower (Sustainable Power Group) a leading sustainable energy provider, announced the acquisition of Bosch Solar Energy North America entities with projects actively operating in the U.S. This acquisition will complement sPower's existing distributed generation portfolio. This most recent acquisition follows sPower's acquisition of Tioga Energy's operating assets last year and its recent merger with Fir Tree Partners and Silverado Power. As a result of sPower's aggressive growth activities, sPower now owns or operates more than 130 solar energy projects across the country and has a buildable pipeline of more than 400 MW.
"Bosch's diligence and commitment to building premium quality products is one of the key reasons we pursued this acquisition. sPower's mission is to support communities in the goal of reducing reliance on fossil fuels and switching to solar energy," sPower CEO, Ryan Creamer, commented. "This acquisition further demonstrates sPower's commitment to the long-term success of the solar industry."
Eric Daniels, Regional President, Bosch Solar Energy North America, said of the acquisition, "As we implement our previously announced exit of the solar energy business, we are pleased that these operations can continue under the direction of sPower. All of our customers have been notified and we are taking every measure to ensure a smooth transition with continued long-term quality of service."About sPower: sPower, an AES and AIMCo company, is the largest private owner of operating solar assets in the United States. sPower owns and operates a portfolio of solar and wind assets greater than 1.3 GW and has a development pipeline of more than 10 GW. sPower is owned by a joint venture partnership between The AES Corporation (NYSE: AES), a worldwide energy company headquartered in Arlington, Virginia, and the Alberta Investment Management Corporation, one of Canada’s largest and most diversified institutional investment fund managers.