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.
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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.
Nexamp today announced the operation of a 2.6 megawatt community solar project in Charlton, Mass., the fourth of its kind in the Worcester County community. Having completed construction at the end of 2017, the 8,100-panel facility was recently approved for operations by the local utility, and has begun generating renewable energy and savings for local partners.
Nexamp today announced the completion of its latest community shared solar array, a 2.6 megawatt (MW) project in Monson, Massachusetts. Monson Solar will generate approximately 3,397,200 kilowatt-hours of clean, renewable energy in its first year of operation, enough to power nearly 400 homes and offset over 2,500 metric tons of carbon dioxide generated from traditional energy sources.
Nexamp today announced the expansion of its Solarize My Bill™ community solar program into the state of New York. Through the program, residents, small businesses, and non-profits across the Empire State will be eligible to benefit from reduced energy costs by subscribing to a share of one of Nexamp’s many local solar projects.