Mitsubishi Corporation acquires solar firm Nexamp

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Mitsubishi Corporation acquires solar firm Nexamp

Diamond Generating Corporation, wholly-owned subsidiary of Mitsubishi Corporation, has announced a corporate investment into Nexamp, a provider of solar energy solutions, headquartered in Boston (USA). Through its distributed generation subsidiary, Rising Sun Solar, LLC, Diamond and Nexamp together will develop, construct and operate distributed-scale solar power plants nationwide.

With this investment, Rising Sun assumes near majority ownership of Nexamp and will work together with Nexamp to greatly accelerate its solar development efforts and realize swift geographic expansion.

CohnReznick Capital Markets Securities served as exclusive advisor to Diamond Generating Corporation throughout the transaction.

Satoshi Hamada, CEO of Diamond Generating Corporation, said:

"We are pleased to execute this transaction with Nexamp. Solar is one of America's fastest growing sources of new power generation and we intend to take a leadership position in the sector alongside our Nexamp team, which we consider among the very best in the industry."

Zaid Ashai, CEO of Nexamp Inc. said:

"We are thrilled to have a strategic partner of Diamond Generating's caliber and experience as our lead investor.Together with Diamond, we will accelerate our path to becoming an elite distributed-scale solar developer and operator in the US."

List of country news

Country news

  • August 10, 2016

    Sonoma Clean Power contracts for 46 MW of wind power

    Sonoma Clean Power (SCP) has signed a power purchase agreement (PPA) of 46 MW for 20 years of wind power from the the 86 MW Golden Hills North Wind Energy Center inthe USA. Read more
  • August 09, 2016

    BlackRock raises €650m for its Renewable Income Europe fund

    BlackRock Real Assets has raised a total amount of €650 million (US$720 million) for its Renewable Income Europe fund. According to sources, twenty-five institutional investors in Europe and Asia backed the fund. Read more
  • August 09, 2016

    NextEra Energy reaches definitive agreement to acquire Energy Future Holdings' interest in Oncor Electric Delivery Company

    NextEra Energy has announced a definitive agreement under which a newly formed subsidiary of NextEra Energy will acquire 100 percent of the equity of reorganized Energy Future Holdings Corp. (EFH) and certain of its direct and indirect subsidiaries. Read more
  • August 08, 2016

    NextEra Energy Resources agrees to sell Pennsylvania gas generating assets to Starwood Energy

    NextEra Energy Resources, LLC, the energy subsidiary of NextEra Energy, Inc. has announced that one of its subsidiaries has entered into an agreement to sell its ownership interest in generating assets to an investment affiliate of Starwood Energy Group Global, LLC. Read more
  • August 05, 2016

    D. E. Shaw Renewable Investments acquires Rancho Seco Solar Project from First Solar

    First Solar, Inc. and D. E. Shaw Renewable Investments, L.L.C. (DESRI) today announced the acquisition by a DESRI affiliate of the 11 MW Rancho Seco Solar Project in Sacramento County, California (USA) from First Solar. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.