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Apricus Generation said it has acquired a controlling interest in Nexus Renewables, a Canadian solar and storage developer and independent power producer (IPP).
Florida-based Apricus Generation said the deal with Nexus Renewables is its first strategic acquisition since its launch earlier this year. No additional details were provided on the financial terms of the transaction.
The company aims to leverage Nexus Renewables’ IPP platform and market position while providing support and capital. The companies will work together to advance Nexus Renewables’ project portfolio, which is reported to exceed 500 MW.
“With this strategic partnership, we are committed to building the leading developer-focused IPP platform to bring renewable energy to consumers,” said Ravi Thuraisingham, CEO of Apricus Generation.
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