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.