Thursday, September 16, 2021

#ESG #Stock News: Solar Integrated Roofing (OTC: $SIRC) reaffirms financial guidance-revenues for the 12 months ended May 31, 2022 expected to grow to $100 million; @SIRCStock

#ESG #Stock News: Solar Integrated Roofing (OTC: $SIRC) reaffirms financial guidance-revenues for the 12 months ended May 31, 2022 expected to grow to $100 million; @SIRCStock

 

EL CAJON, CA / September 16, 2021 / Solar stock news from Investorideas.com Newswire and RenewableEnergyStocks.com  - Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single-source solar power and roofing systems installation company, today preannounced preliminary unaudited record sales of $25 million for the three months ended August 31, 2021 and reaffirmed its financial guidance that revenues for the 12 months ended May 31, 2022 are expected to grow to at least $100 million.

 

Read this news, featuring SIRC in full at https://www.investorideas.com/news/2021/renewable-energy/09161SIRC-Financial-Guidance.asp

 

“The second quarter of fiscal 2022 was highlighted by strong organic growth from our complementary solar, roofing and EV charging brands that drove record sales numbers,” said David Massey, Chairman and Chief Executive Officer of Solar Integrated Roofing Corp. “Notably, the quarter’s sales figures do not include a full quarter of revenue at scale from Future Home Power or USA Solar Network – we believe we can double this quarter’s sales results going forward as we realize a full quarter of revenue from these acquisitions and continue our rapid pace of organic growth.

 

“Looking ahead, we are continuing to focus on our corporate streamlining program to decrease costs and further realize cost synergies across our family of companies. Given our record sales growth, we believe we can achieve profitability this fiscal year. Our results, in combination with our share buyback program, are increasing our capital markets momentum towards audit completion and filing an application to become listed on the OTC Market's OTCQB® Venture Market in the near-term, with the goal of uplisting to the Nasdaq thereafter.

 

“I look forward to sharing our full second quarter results in our future filings as we look ahead to the second half of the year, positioning ourselves for sustainable shareholder value creation over the long-term,” concluded Massey.

 

About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power and roofing systems installation platform company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com.

 

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

 

Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

 

Paid News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring SIRC is a paid for news release on Investorideas.com  More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

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Wednesday, September 15, 2021

The #CleanEnergy Revolution - #Stocks to Watch (OTCQB: $SING) (NASDAQ: $ISUN) (TSX: $RNW.TO) (NYSE: $PWR) @_Singlepoint_ @isun_energy @TransAlta @Quanta_Services

The #CleanEnergy Revolution  - #Stocks to Watch (OTCQB: $SING) (NASDAQ: $ISUN) (TSX: $RNW.TO) (NYSE: $PWR) @_Singlepoint_ @isun_energy  @TransAlta @Quanta_Services

 

Point Roberts WA, Delta, BC –September 15, 2021 - Investorideas.com, a leading investor news resource covering cleantech releases a special report on the recent string of acquisitions within the renewable energy sector, from both well-known cleantech companies and new enterprises looking for a way to cash in on the “clean energy revolution.”

 

Read this article, featuring SING in full at https://www.investorideas.com/news/2021/renewable-energy/09152Clean-Energy-Revolution.asp

 

Betting big on the future of cleantech, SinglePoint Inc. (OTCQB: SING), already deeply entrenched in the sector with its solar subsidiary, has expanded and diversified its portfolio with recent acquisitions. 

 

"As a company, we are laser focused on the continued expansion of our sustainable footprint. The network of industry partners and providers that SinglePoint has acquired is the driving force behind our commitment to delivering valuable solutions for better health and living, which in turn will unlock further value creation for stakeholders," commented Wil Ralston, Chief Executive Officer of SinglePoint.

 

The Company announced in August its forward-looking revenue guidance goals for the Company's solar-centric subsidiaries for Q4 2021, targeting annual revenue projections of $20,000,000 USD for the existing solar business units in FY2022. The Company continues to target opportunities in exponentially growing markets with significant government support within solar as the domestic market is expected to reach $223 Billion by 2026.

 

"We are diligently working to execute on collaborative revenue producing projects within our existing solar business divisions and we believe there are significant amounts of synergistic opportunities ahead. We expect revenues to grow throughout the remainder of 2021 and continue to increase in FY2022 with the potential to surpass $20,000,000 in organic annual revenue next year," commented Wil Ralston, CEO, SinglePoint. "We have built a strong foundation within our solar business, anchored by EnergyWyze and Direct Solar America, and we intend to execute on our previously announced strategic M&A growth plan to add scale, incremental sales, and to broaden our footprint throughout the remainder of the year and into 2022."

 

This week the Company announced that its subsidiary company, Energy Wyze, LLC, has launched a new AI bot technology that allows for the complete automation of booking appointments and automated lead generation. While still having the option for in-person interaction, interested customers are no longer required to be in direct contact with a representative to book an appointment. This AI technology is able to accurately gather information and coordinate an appointment to connect each individual with the right solar provider for them, regardless of their location.

 

The company also recently  launched its new  website, www.singlepoint.com as well as the company’s support for clean and healthy environments for classrooms around the nation by hosting a give away of four Apex 2.0 AIRBOX™ units a week for four (4) weeks. With Clean Air Day (September 7, 2021) just behind us, the focus on what we are breathing is at the forefront of the conversation. As more students return to in-person learning, safety concerns within the American family have increased. SinglePoint's subsidiary, BOX Pure Air has been working diligently to ensure it is a part of the solution.

 

Singlepoint’s subsidiary, BOX Pure Air announced orders to provide multiple units of their newest model, the Apex 2.0, to a school in North Carolina. Large spaces in schools used to be either too difficult or too expensive to properly filter. The Apex 2.0 was designed and built specifically to provide air filtration and ventilation to address the needs of schools outside of the classroom. The Company is currently having multiple active and repeat discussions with several schools in its pipeline.

From the news: Poor Indoor Air Quality (IAQ) can be the cause of headaches, lead to fatigue and can enhance allergies and asthma beyond the current crisis of Covid. The Apex 2.0 improves the air quality indoors where students and teachers spend more than one thousand hours a year of their time on average. In fact it is estimated that people spend nearly ninety percent of our time indoors. Covid-19 has brought into focus the absolute need for improvement of IAQ as we now look to create indoor safe environments that provide increase protection against pathogens and highly contagious airborne viruses, especially in schools.

"Federal funding, in excess of $190 Billion has been allocated for schools across the nation specifically to be used for improving air quality. While there is no single thing a school or facility can do to eliminate all potential risks, it is clear air purification and ventilation is a major contributor in reducing the potential spread of the virus. “

iSun, Inc. (NASDAQ: ISUN), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services, and SolarCommunities Inc.  recently announced that they have entered into a definitive agreement pursuant to which a subsidiary of iSun will acquire SunCommon, in a combination of cash and shares of Common Stock.

From the news: The transaction executes phase one of iSun’s recently announced East Coast residential strategy and builds on iSun’s commercial, industrial and utility-scale presence in Maine, New Hampshire, Vermont, Connecticut, Massachusetts, Rhode Island, New York, Maryland, North Carolina and South Carolina. The acquisition furthers iSun’s ability to both drive the transition from dirty to clean energy and capitalize on the increasing focus on the climate crisis. The combined organization generated net revenues of approximately $51.4 and $70.0 million in calendar years 2020 and 2019, respectively

Quanta Services, Inc. (NYSE: PWR), delivering comprehensive infrastructure solutions for the utility, communications, pipeline and energy industries is participating in the sector through acquisition.  The Company recently announced that it has entered into a definitive agreement to acquire Blattner Holding Company, one of the largest and leading utility-scale renewable energy infrastructure solutions providers in North America. Founded in 1907 and headquartered in Avon, Minnesota, Blattner provides front-end engineering, procurement, project management and construction services to leading renewable energy developers for wind, solar and energy storage projects. Through its geographically and technologically diverse capabilities, Blattner has completed or been awarded more than 300 wind projects (+49 GW installed generating capacity), more than 90 solar projects (+12 GW installed generating capacity) and 17 energy storage projects. Over the last several years, Blattner has achieved double-digit organic revenue and profit growth by leveraging its operational expertise and collaborative customer relationships. Blattner generated full-year 2020 revenues and adjusted EBITDA (a non-GAAP measure) of approximately $2.4 billion and $291 million, respectively. The consideration to be paid at closing for the transaction is approximately $2.7 billion.

 

TransAlta Renewables Inc. (TSX: RNW) following a similar path, recently announced that it has entered into definitive agreements for the acquisition of a 122 MW portfolio of operating solar facilities located in North Carolina (collectively, "North Carolina Solar").

 

The assets will be acquired from a fund managed by Copenhagen Infrastructure Partners for US$96.65 million, subject to working capital adjustments and the assumption of existing tax equity obligations. The acquisition will be funded using existing liquidity. Income distributions to the Company will be net of cash and tax attributes provided to the tax equity investor. The acquisition is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2021. The transaction is structured so that at closing, TransAlta Renewables will acquire a 100% economic interest in North Carolina Solar from a wholly-owned subsidiary of TransAlta Corporation through a tracking share structure.

 

"This purchase marks an important and significant expansion of our solar footprint in the United States and is a natural fit for TransAlta Renewables given our focus on diversified, highly-contracted cash flows from strong counterparties," said Todd Stack, President of TransAlta Renewables. "The acquisition further strengthens our expertise in solar energy and adds a new, high-quality customer in a region where we see significant opportunities for solar growth. We are excited to continue along our path of expanding our position as a market leader in clean renewable electricity."

 

The North Carolina Solar portfolio consists of 20 solar photovoltaic facilities across North Carolina, with an aggregate capacity of 122 MW. The facilities are all operational and were commissioned between November 2019 and May 2021. The facilities are secured by long-term power purchase agreements ("PPAs") with two subsidiaries of Duke Energy ("Duke"), which have an average remaining term of 12 years. Under the PPAs, Duke receives the renewable electricity, capacity, and environmental attributes from each facility. North Carolina Solar is expected to generate an average annual EBITDA of approximately US$9 million and average annual cash available for distribution ("CAFD") of approximately US$7 million.

 

The solar market is poised for long term sustainable growth. Homeowners continue to look for ways to utilize solar and establish energy independence. With varying weather events happening across the US, solar, battery backup and creating an emergency backup system is a high priority among many consumers. Additionally, going solar continues to make economic sense reducing a homeowner’s monthly utility expense in many cases. In addition to consumer awareness, the federal government and industry are constantly looking for ways to create operational efficiencies such as universal permitting, easing supply chain roadblocks and overall, providing ways to continually decrease the cost of implementing renewable energy systems at the residential and commercial levels.

 

From clean energy to clean air, as we see a growing interest and awareness from both government and citizens, we can expect to continue to see similar acquisitions and growth within the sector. Companies from all sides of industry will look to ensure they haven’t missed the boat on the booming cleantech trend. For companies that are already positioned and know the market and customer base, acquisitions will play a key role in building out revenue for shareholders.   


As the 
Economist recently said, “Wall Street giants and corporate titans are betting on climate innovation”

 

About Investorideas.com - News that Inspires Big Investing Ideas

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Disclaimer/Disclosure: Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: this news article featuring SING is a paid for news release on Investorideas.com –(two thousand) More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

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#RenewableEnergy #Stock News- Solar Integrated Roofing (OTC: $SIRC) Announces Record Second Quarter 2022 Preliminary Sales of $25 Million; @SIRCStock

#RenewableEnergy #Stock News- Solar Integrated Roofing (OTC: $SIRC) Announces Record Second Quarter 2022 Preliminary Sales of $25 Million; @SIRCStock

 


EL CAJON, CA / September 15, 2021 /
 Solar stock news from Investorideas.com Newswire and RenewableEnergyStocks.com  - Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single-source solar power and roofing systems installation company, today preannounced preliminary unaudited record sales of $25 million for the three months ended August 31, 2021 and reaffirmed its financial guidance that revenues for the 12 months ended May 31, 2022 are expected to grow to at least $100 million.

 

Read this news, featuring SIRC in full at https://www.investorideas.com/news/2021/renewable-energy/09151SIRC-Record-Q2.asp

 

“The second quarter of fiscal 2022 was highlighted by strong organic growth from our complementary solar, roofing and EV charging brands that drove record sales numbers,” said David Massey, Chairman and Chief Executive Officer of Solar Integrated Roofing Corp. “Notably, the quarter’s sales figures do not include a full quarter of revenue at scale from Future Home Power or USA Solar Network – we believe we can double this quarter’s sales results going forward as we realize a full quarter of revenue from these acquisitions and continue our rapid pace of organic growth.

 

“Looking ahead, we are continuing to focus on our corporate streamlining program to decrease costs and further realize cost synergies across our family of companies. Given our record sales growth, we believe we can achieve profitability this fiscal year. Our results, in combination with our share buyback program, are increasing our capital markets momentum towards audit completion and filing an application to become listed on the OTC Market's OTCQB® Venture Market in the near-term, with the goal of uplisting to the Nasdaq thereafter.

 

“I look forward to sharing our full second quarter results in our future filings as we look ahead to the second half of the year, positioning ourselves for sustainable shareholder value creation over the long-term,” concluded Massey.

 

About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power and roofing systems installation platform company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com.

 

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

 

Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

 

Paid News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring SIRC is a paid for news release on Investorideas.com  More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

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Tuesday, September 14, 2021

Acquisitions in #Cleantech - #Stocks to Watch (OTCQB: $SING) (NASDAQ: $ISUN) (TSX: $RNW.TO) (NYSE: $PWR) @_Singlepoint_ @isun_energy @TransAlta @Quanta_Services

Acquisitions in #Cleantech - #Stocks to Watch (OTCQB: $SING) (NASDAQ: $ISUN) (TSX: $RNW.TO) (NYSE: $PWR) @_Singlepoint_ @isun_energy  @TransAlta @Quanta_Services

 

Money Trumps #Environmentalism: Companies Expand Sustainable Footprint through Acquisitions

 

Point Roberts WA, Delta, BC –September 14, 2021 - Investorideas.com, a leading investor news resource covering cleantech releases a special report on the recent string of acquisitions within the renewable energy sector, from both well-known cleantech companies and new enterprises looking for a way to cash in on the “clean energy revolution.”

 

Read this article, featuring SING in full at https://www.investorideas.com/news/2021/renewable-energy/09141Acquisitions-Cleantech.asp

 


Betting big on the future of cleantech, SinglePoint Inc. (OTCQB: SING), already deeply entrenched in the sector with its solar subsidiary, has expanded and diversified its portfolio with recent acquisitions. 

 

"As a company, we are laser focused on the continued expansion of our sustainable footprint. The network of industry partners and providers that SinglePoint has acquired is the driving force behind our commitment to delivering valuable solutions for better health and living, which in turn will unlock further value creation for stakeholders," commented Wil Ralston, Chief Executive Officer of SinglePoint.

 

The Company announced in August its forward-looking revenue guidance goals for the Company's solar-centric subsidiaries for Q4 2021, targeting annual revenue projections of $20,000,000 USD for the existing solar business units in FY2022. The Company continues to target opportunities in exponentially growing markets with significant government support within solar as the domestic market is expected to reach $223 Billion by 2026.

 

"We are diligently working to execute on collaborative revenue producing projects within our existing solar business divisions and we believe there are significant amounts of synergistic opportunities ahead. We expect revenues to grow throughout the remainder of 2021 and continue to increase in FY2022 with the potential to surpass $20,000,000 in organic annual revenue next year," commented Wil Ralston, CEO, SinglePoint. "We have built a strong foundation within our solar business, anchored by EnergyWyze and Direct Solar America, and we intend to execute on our previously announced strategic M&A growth plan to add scale, incremental sales, and to broaden our footprint throughout the remainder of the year and into 2022."

 

This week the Company announced that its subsidiary company, Energy Wyze, LLC, has launched a new AI bot technology that allows for the complete automation of booking appointments and automated lead generation. While still having the option for in-person interaction, interested customers are no longer required to be in direct contact with a representative to book an appointment. This AI technology is able to accurately gather information and coordinate an appointment to connect each individual with the right solar provider for them, regardless of their location.

 

The company also recently  launched its new  website, www.singlepoint.com as well as the company’s support for clean and healthy environments for classrooms around the nation by hosting a give away of four Apex 2.0 AIRBOX™ units a week for four (4) weeks. With Clean Air Day (September 7, 2021) just behind us, the focus on what we are breathing is at the forefront of the conversation. As more students return to in-person learning, safety concerns within the American family have increased. SinglePoint's subsidiary, BOX Pure Air has been working diligently to ensure it is a part of the solution.

 

Singlepoint’s subsidiary, BOX Pure Air announced orders to provide multiple units of their newest model, the Apex 2.0, to a school in North Carolina. Large spaces in schools used to be either too difficult or too expensive to properly filter. The Apex 2.0 was designed and built specifically to provide air filtration and ventilation to address the needs of schools outside of the classroom. The Company is currently having multiple active and repeat discussions with several schools in its pipeline.

From the news: Poor Indoor Air Quality (IAQ) can be the cause of headaches, lead to fatigue and can enhance allergies and asthma beyond the current crisis of Covid. The Apex 2.0 improves the air quality indoors where students and teachers spend more than one thousand hours a year of their time on average. In fact it is estimated that people spend nearly ninety percent of our time indoors. Covid-19 has brought into focus the absolute need for improvement of IAQ as we now look to create indoor safe environments that provide increase protection against pathogens and highly contagious airborne viruses, especially in schools.

"Federal funding, in excess of $190 Billion has been allocated for schools across the nation specifically to be used for improving air quality. While there is no single thing a school or facility can do to eliminate all potential risks, it is clear air purification and ventilation is a major contributor in reducing the potential spread of the virus. “

iSun, Inc. (NASDAQ: ISUN), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services, and SolarCommunities Inc.  recently announced that they have entered into a definitive agreement pursuant to which a subsidiary of iSun will acquire SunCommon, in a combination of cash and shares of Common Stock.

From the news: The transaction executes phase one of iSun’s recently announced East Coast residential strategy and builds on iSun’s commercial, industrial and utility-scale presence in Maine, New Hampshire, Vermont, Connecticut, Massachusetts, Rhode Island, New York, Maryland, North Carolina and South Carolina. The acquisition furthers iSun’s ability to both drive the transition from dirty to clean energy and capitalize on the increasing focus on the climate crisis. The combined organization generated net revenues of approximately $51.4 and $70.0 million in calendar years 2020 and 2019, respectively

Quanta Services, Inc. (NYSE: PWR), delivering comprehensive infrastructure solutions for the utility, communications, pipeline and energy industries is participating in the sector through acquisition.  The Company recently announced that it has entered into a definitive agreement to acquire Blattner Holding Company, one of the largest and leading utility-scale renewable energy infrastructure solutions providers in North America. Founded in 1907 and headquartered in Avon, Minnesota, Blattner provides front-end engineering, procurement, project management and construction services to leading renewable energy developers for wind, solar and energy storage projects. Through its geographically and technologically diverse capabilities, Blattner has completed or been awarded more than 300 wind projects (+49 GW installed generating capacity), more than 90 solar projects (+12 GW installed generating capacity) and 17 energy storage projects. Over the last several years, Blattner has achieved double-digit organic revenue and profit growth by leveraging its operational expertise and collaborative customer relationships. Blattner generated full-year 2020 revenues and adjusted EBITDA (a non-GAAP measure) of approximately $2.4 billion and $291 million, respectively. The consideration to be paid at closing for the transaction is approximately $2.7 billion.

 

TransAlta Renewables Inc. (TSX: RNW) following a similar path, recently announced that it has entered into definitive agreements for the acquisition of a 122 MW portfolio of operating solar facilities located in North Carolina (collectively, "North Carolina Solar").

 

The assets will be acquired from a fund managed by Copenhagen Infrastructure Partners for US$96.65 million, subject to working capital adjustments and the assumption of existing tax equity obligations. The acquisition will be funded using existing liquidity. Income distributions to the Company will be net of cash and tax attributes provided to the tax equity investor. The acquisition is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2021. The transaction is structured so that at closing, TransAlta Renewables will acquire a 100% economic interest in North Carolina Solar from a wholly-owned subsidiary of TransAlta Corporation through a tracking share structure.

 

"This purchase marks an important and significant expansion of our solar footprint in the United States and is a natural fit for TransAlta Renewables given our focus on diversified, highly-contracted cash flows from strong counterparties," said Todd Stack, President of TransAlta Renewables. "The acquisition further strengthens our expertise in solar energy and adds a new, high-quality customer in a region where we see significant opportunities for solar growth. We are excited to continue along our path of expanding our position as a market leader in clean renewable electricity."

 

The North Carolina Solar portfolio consists of 20 solar photovoltaic facilities across North Carolina, with an aggregate capacity of 122 MW. The facilities are all operational and were commissioned between November 2019 and May 2021. The facilities are secured by long-term power purchase agreements ("PPAs") with two subsidiaries of Duke Energy ("Duke"), which have an average remaining term of 12 years. Under the PPAs, Duke receives the renewable electricity, capacity, and environmental attributes from each facility. North Carolina Solar is expected to generate an average annual EBITDA of approximately US$9 million and average annual cash available for distribution ("CAFD") of approximately US$7 million.

 

The solar market is poised for long term sustainable growth. Homeowners continue to look for ways to utilize solar and establish energy independence. With varying weather events happening across the US, solar, battery backup and creating an emergency backup system is a high priority among many consumers. Additionally, going solar continues to make economic sense reducing a homeowner’s monthly utility expense in many cases. In addition to consumer awareness, the federal government and industry are constantly looking for ways to create operational efficiencies such as universal permitting, easing supply chain roadblocks and overall, providing ways to continually decrease the cost of implementing renewable energy systems at the residential and commercial levels.

 

From clean energy to clean air, as we see a growing interest and awareness from both government and citizens, we can expect to continue to see similar acquisitions and growth within the sector. Companies from all sides of industry will look to ensure they haven’t missed the boat on the booming cleantech trend. For companies that are already positioned and know the market and customer base, acquisitions will play a key role in building out revenue for shareholders.   


As the 
Economist recently said, “Wall Street giants and corporate titans are betting on climate innovation”

 

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