BBJ: Mitsubishi subsidiary buys pair of Boston energy companies

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.

“We’re actually building what I would call an energy unicorn here in Boston," said Zaid Ashai, CEO of Nexamp Inc., which this week sold a controlling stake to Diamond. Nexamp runs commercial and community solar projects along the East Coast and has "several hundred" projects under development or in operation, according to Ashai.

Link to Full Article at Boston Business Journal