Nelnet has acquired a controlling funding in associates of GRNE Solutions LLC, referred to as GRNE Solar, a Midwest solar engineering, procurement, and building (EPC) agency. In addition, Nelnet attained sure solar belongings from an affiliate of GRNE, some already producing power and others at present being constructed.
GRNE designs and installs residential, industrial and utility-scale solar techniques in Illinois, Indiana, Iowa, Nebraska, Missouri and shortly in Colorado. Its solar tasks sometimes generate between 1-5 MW of power. GRNE additionally affords battery backup, electrical car charging, energy monitoring, and operations and upkeep providers.
Based in Palatine, Ill., and Lincoln, Neb., GRNE was established in 2012 by Jess Baker and Eric Peterman. The co-founders will proceed to steer GRNE and retain a minority possession curiosity within the firm.
“We are excited to partner with Jess, Eric and the GRNE team to accelerate their growth plans and our diversification into solar development,” says Scott Gubbels, Nelnet’s govt director of tax and renewable energy. “The GRNE team has earned a strong reputation in the solar industry for their culture, values and high-quality execution and construction management. Together, we will create a unique solution in the renewable space, including EPC services, financing solutions and subscription management.”
“This acquisition presents an outstanding opportunity for the growth of GRNE and for Nelnet’s continued expansion into the renewable energy space,” states Baker, co-founder and president of GRNE Solar. “With Nelnet’s proven track record for growing and scaling business as well as GRNE’s industry expertise, we will continue to accomplish amazing things. Solar energy is a key component to accomplishing the energy goals of the future, and we are proud to be part of the solution.”