REC Solar has acquired Stellar Energy, a solar provider in the western US, through an asset purchase agreement.
REC Solar will continue to focus on providing solar exclusively to the commercial market, including the agricultural, manufacturing, retail, technology, nonprofit and government sectors.
As a result of the deal, REC Solar will add more than 60 MW from 62 solar projects, bringing its portfolio to over 200 MW, installed or under construction. REC Solar also picks up an additional 28 MW of operations and maintenance contracts, increasing the company’s O&M portfolio to more than 200 MW.
New clients joining the REC Solar portfolio include businesses in the agriculture, food & beverage, manufacturing, mining & energy and entertainment industries, as well as school districts and municipalities.
REC Solar will retain most of Stellar Energy’s personnel to ensure a seamless transition for Stellar’s customers. Stellar Energy President Ted Walsh will join REC Solar as vice president of business development.
Duke Energy acquired a majority interest in REC Solar in February 2015.
