Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTOctober 7 (Renewables Now) - US renewable, environmental and thermal energy technologies provider Babcock & Wilcox Enterprises Inc (NYSE:BW) has finalised the purchase of a 60% stake in solar energy contractor Fosler Construction Company Inc.
Following the deal, Illinois-based Fosler Construction will become part of the B&W Renewable segment and will operate under the name Fosler Solar, Babcock & Wilcox said on Tuesday. Financial details about the acquisition were kept under wraps.
Established in 1998, Fosler Construction provides commercial, industrial and utility-scale solar services and also owns two community solar projects in Illinois. The company employs about 120 people and has so far executed more than 100 photovoltaic (PV) projects in Illinois and has active projects in New York, Virginia and Maryland. Its near-term pipeline includes projects with a combined capacity exceeding 1 GW.
“We’re particularly excited about the key role Fosler Solar will play in the growth of B&W’s renewable energy business and the substantial opportunities we see in the market for solar installation and construction services in the US,” said Kenneth Young, CEO of Babcock & Wilcox.
Paul Fosler will continue to be at the helm of Fosler Solar and will keep a minority shareholding in the business.
Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTDuke Energy equips Hawaii university with solar and storage
May 27, 2022 17:17 CESTUS stays atop EY renewables attractiveness index, Spain heads PPA chart
May 27, 2022 16:32 CESTSavannah Energy to develop up to 500 MW of renewables in Chad
May 27, 2022 16:08 CESTCelsia building 260 MW of solar farms in Colombia
May 27, 2022 15:51 CESTAgrana, RWA equip Austrian fruit juice concentrate plant with solar modules
May 27, 2022 15:36 CEST