Neo Solar-backed Clean Focus buys US solar installer Greenskies
By Ivan Shumkov
December 20 (Renewables Now) - Clean Focus Yield Ltd, a renewables owner backed by Taiwan’s Neo Solar Power Corp (TPE:3576), has acquired US solar power company Greenskies Renewable Energy LLC.
Middletown, Connecticut-based Greenskies is mainly focused on commercial and municipal projects for customers such as Target Corp, Walmart Stores Inc, Sam’s Club and various towns and cities across the Northeast. Its purchase will make Clean Focus the owner and operator of the largest commercial and industrial (C&I) portfolio in the US, according to the announcement.
Greenskies said it plans to build out its 350-MW project pipeline and expand into new segments including schools, hospitals, and community solar. The company will benefit from increased financial resources and international scale following the acquisition.
Clean Focus has committed to retain all current Greenskies employees in Middletown and to further expand the company’s headcount in Connecticut and across the country.
“We have seen explosive growth over the last five years, and this infusion of capital adds jet fuel to our business engine. With the support of Clean Focus, Greenskies will accelerate its growth, and it is better prepared to weather potential headwinds in the solar market,” said Will Herchel, president of Greenskies.