Mitsubishi Corp.’s Diamond Generating energy subsidiary is doubling down on Boston. Diamond completed its $70 million acquisition of Boston Energy Trading and Marketing from energy giant NRG on Aug. 1. Then Diamond acquired a controlling stake in Nexamp Inc., a Boston-based solar company, after first investing in the company in 2016.
Archive: August 2018
Diamond Generating Corp., a subsidiary of Mitsubishi Corp. that operates power plants in the U.S., plans to use Boston as the staging ground for an expansion into solar energy. As a foundation for the expansion, Diamond has purchased one Boston company, made a majority investment in another, and established a corporate branch office in Downtown Crossing. Combined, the three teams plan to boost their local employee count by more than 100 people in the next year and a half, according to executives involved in the deals.
Diamond Generating Corporation (“DGC”), a leading independent power producer and wholly owned subsidiary of Mitsubishi Corporation, has announced substantial investments into two Boston-based firms and the opening of a corporate office to complement the growth of its distributed energy platform. DGC completed the acquisition of Boston Energy Trading and Marketing LLC (“BETM”), a prominent energy trading & marketing firm, from NRG Energy, Inc on Aug. 1, 2018. Under one week later, DGC acquired a controlling stake in Nexamp, Inc., a leading clean energy and community solar provider, following an initial successful investment into the company in 2016.