Acquisitions

Also on the rise: Wendy’s enrolls in community solar to power 130 locations. Generac acquires commercial and industrial energy storage provider. And more.

The company acquired engineering, procurement, and construction firm PowerPlay Battery Energy Storage Systems.

Chinese wafer manufacturer TCL Zhonghuan says it wants to invest around $197.5 million to increase its stake in Maxeon from 22.39% to at least 50.1%. A Maxeon spokesperson told pv magazine that the plan would place the company in a solid financial position.

U.S.-headquartered Apricus Generation says it has acquired a controlling stake in Toronto-based Nexus Renewables – its first strategic acquisition.

Mercom Capital Group says that total corporate solar funding, global venture capital funding, public market financing, and PV mergers and acquisitions all fell year on year in the first quarter of 2024. The sector is still grappling with high interest rates, which Wood Mackenzie says is disproportionately affecting renewables projects.

FTI Consulting said incentives in the Inflation Reduction Act could cause a “seismic shift” on the U.S. economy as a whole over the next 12 to 24 months.

Construction of the 14 projects in the portfolio is expected to begin this year.

Mercom Capital reported the U.S. invested $9.2 billion of venture capital in energy storage in 2023.

The company purchased distributed solar and storage projects across the United States, including in New York and California.

The company offers financing for small to medium-sized businesses investing in solar.