National renewable energy provider, Pivot Energy, Tuesday announced the acquisition of SGC Power, a Maryland-based community solar developer.
Terms of the deal were not disclosed.
SGC Power identifies, develops, and designs solar projects that produce long-term lease income for property owners while providing affordable clean energy to surrounding communities. This framework, known as community solar, is currently the fastest growing segment of the solar industry.
The acquisition will result in substantial growth over the years to come. Pivot’s development expertise and long-term project ownership capabilities will enable SGC to enter new markets and increase value to their property owners by providing some certainty. The larger team will allow Pivot Energy to better scale greenfield development, accelerate the adoption of solar, add product offerings, and expand the company’s national footprint.