--(Marketwired - Aug 19, 2014) - Nexamp, a leading solar solutions provider, announced today its acquisition of a 4.4 megawatt (MW) portfolio of solar projects operating in Massachusetts from Broadway Renewable Strategies. The projects produce enough energy to power 650 homes a year.
Nexamp will manage the operating assets, whose power purchase agreements provide clean energy and electricity savings to educational, municipal and commercial institutions in 11 Massachusetts communities. Nexamp will use its market leading asset management expertise to ensure these projects continue to perform at their highest levels.
"As the largest solar solutions provider based in the Northeast, we are proud to bring more Massachusetts projects into our portfolio," said Zaid Ashai, Chairman and CEO of Nexamp. "This acquisition is a critical part of the accelerating growth that we have worked towards in the last year, including developing, building and commissioning 23 MW over the past six months. Nexamp is on a path for strong organic growth and we will continue to look to augment this growth with acquisitions of operating and pipeline assets."
The terms of the acquisition agreement were not disclosed.About Nexamp
Nexamp delivers proven solar energy solutions. From project development through financing, construction, and operation, Nexamp's comprehensive approach makes going solar simple and profitable for our clients and partners. Founded in 2007 and headquartered in Boston, Massachusetts, Nexamp is the largest commercial solar provider in the Northeast. Learn why General Mills, Fidelity Investments, National Grid and others have turned to Nexamp for solar project development and services at www.nexamp.com.Corporate Contact:
Tier One Partners