The sun is rising for Zaid Ashai and his team at Nexamp, the Boston-based solar developer and operator.
The firm announced today that it has acquired a 4.4-megawatt portfolio of 11 Massachusetts solar projects from Broadway Renewable Strategies — collectively enough panels to power 650 homes in one year. The firms didn’t disclose the financial terms of the deal.
Ashai tells me that more acquisitions are on their way, as Nexamp looks to build its portfolio up to the 75- to 100-megawatt range by the end of 2015. The company currently has 44 megawatts of generating capacity in its portfolio, including the new Broadway projects. A few acquisitions likely will be much bigger than this Broadway purchase, and some will be smaller, he says. Nexamp also will look to develop more of its own projects internally, including in some of the towns that it has entered with the Broadway deal.