Aggreko Energy Transition Solutions (ETS), a division of Aggreko, a global leader in energy solutions, announced the acquisition of Infiniti Energy, a premier US-based commercial and industrial (C&I) solar company, from Upper Bay Infrastructure Partners (Upper Bay). Upper Bay, a mid-market infrastructure private equity firm that transitioned Infiniti Energy into an IPP platform and institutional ownership, has fully exited its position in the company. This strategic acquisition significantly expands Aggreko’s distributed solar capabilities and asset base, by integrating Infiniti’s expertise in solar design, engineering, procurement and construction (EPC), together with its pipeline of onsite decarbonization projects.
The addition of Infiniti Energy brings 12 MW of contracted operating solar assets, 22 MW of construction-ready solar projects and a further pipeline to ETS’s growing portfolio. It also strengthens the company’s foothold in several East Coast markets, while enhancing in-house capabilities such as power purchase agreement (PPA) origination and turnkey engineering, procurement and construction (EPC) management.
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Jerry Polacek, President of Aggreko ETS, commented, “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 decarbonization solutions to our customers.”
Michael Kushner, CEO of Infiniti Energy and newly appointed General Manager of Aggreko ETS’s C&I business, stated, “I want to extend a heartfelt thank you to our dedicated team and express our excitement for the growth opportunities this transaction presents for our clients. We deeply appreciate the trust our clients and vendors have placed in us over the years and we look forward to continuing to serve them with enhanced resources and expertise.”
The combined teams, operating within Aggreko ETS, will leverage their collective strengths to deliver reliable EPC services and innovative, sustainable energy solutions through long-term PPAs to a broader market.
SOURCE: GlobeNewswire