Aggreko Energy Transition Solutions, a division of power generation equipment supplier Aggreko, has completed the acquisition of US-based commercial and industrial solar company Infiniti Energy from Upper Bay Infrastructure Partners.
This move adds 12MW of operational capacity and 22MW of construction-ready PV projects to Aggreko's distributed solar portfolio, along with expanded market access on the US East Coast and enhanced capabilities in securing power purchase agreements.
“Combining the global scale, financial strength, and industry expertise of Aggreko with Infiniti's distributed solar development and engineering, procurement, and construction (EPC) capabilities uniquely positions us to deliver turnkey decarbonisation solutions to our customers,” said Jerry Polacek, president of Aggreko ETS.
In a separate development, independent power producer SolarBank has acquired investment vehicle Solar Flow-Through Funds (SFF) through an all-stock transaction valued at up to US$45 million.
SolarBank's acquisition includes 28.8MW of solar PV capacity across 70 operating projects in Ontario, Canada, operating under the province's Feed-in-Tariff program. Additionally, SFF brings 14.97MW of battery energy storage system capacity under construction, expected to operate under long-term contracts with Ontario Independent Electricity System Operator (IESO).
“We are going to continue to target further growth of its independent power producer assets through organic project origination and strategic acquisitions of assets,” affirmed Richard Lu, president and CEO of SolarBank.
