Plenary buys 75% of Aussie energy services co NuGreen

Solar rooftop. Author: David TREBOSC. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

Feb 10 (Renewables Now) - Public infrastructure investor Plenary Group has acquired a majority stake in NuGreen Solutions, a business that audits, finances, delivers and maintains energy efficiency solutions, including rooftop solar systems.

Australia-based NuGreen serves commercial, industrial and government clients at home and in New Zealand. According to information on the firm’s website, the transaction was implemented in January 2017 and involved the sale of a 75% stake to Plenary.

“Providing governments and industry the option to privately finance the capital works associated with these [renewable energy] solutions ensures they incur little or no costs upfront, but gain the benefits of immediate and long-term savings on energy costs,” Plenary CEO Paul Oppenheim commented in a news release.

The buyer noted that this transaction boosts its capabilities in the growing new energy market. The value of the stake buy was not given.

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