Aggreko, a UK-based power solutions provider, has announced the acquisition of US solar power producer and project developer Infiniti Energy, enhancing its renewable energy footprint.
The acquisition from private equity firm Upper Bay Infrastructure Partners includes Infiniti Energy's portfolio of 34 megawatts (MW) of contracted solar parks in operation and ready-to-build projects. Financial terms of the deal were not disclosed.
Infiniti Energy specializes in commercial and industrial (C&I) solar solutions, offering services ranging from design to engineering, procurement, and construction (EPC). Its portfolio includes 12 MW of operational solar plants and 22 MW of solar projects ready for construction. The New Jersey-based firm serves clients such as Lowe's Companies Inc, PepsiCo Inc, and the US division of Puratos, a Belgian food group.
Earlier this year, Infiniti Energy secured USD 82.9 million (EUR 76.5 million) in financing to advance C&I solar projects totaling 21 MW across New Jersey, California, and Illinois.
Aggreko executed the acquisition through its division Aggreko Energy Transition Solutions (ETS), which specializes in utility-scale and distributed solar and battery storage projects throughout the United States.
