OMERS Infrastructure is buying a US solar power producer from Ares Management Corporation for an undisclosed sum.
OMERS Infrastructure said it has agreed to buy Navisun from a fund managed by Ares.
Navisun is an independent distributed generation solar power producer. The company acquires, co-develops, constructs, finances, owns and operates distributed and small utility-scale solar and storage projects throughout the US.
Tom Frazier, managing director, Americas, OMERS Infrastructure, said: ” We are excited at this opportunity to help Navisun realise its objectives of growing into a major distributed generation solar power and storage platform.”
Gisele Everett, a senior managing director, Americas, OMERS Infrastructure, said: “Our work with Navisun will not only position us to further participate in the ongoing global energy transition but also signals our formal entry into the distributed generation space – helping bring additional diversity to our global renewable energy holdings, which now stretch across three continents.”
John Malloy, Navisun’s co-founder and managing partner, said the combination of OMERS as investor with Navisun’s capabilities and track record in distributed generation “positions us to deliver on a wider array of opportunities to increase Americans’ access to clean, renewable solar power”.
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