Today Nexamp announced it has acquired a 4.4 MW portfolio of solar projects operating in Massachusetts from Broadway Renewable Strategies. The projects produce enough energy to power 650 homes a year.
The power purchase agreements for the projects provide clean energy and electricity savings to educational, municipal, and commercial institutions in 11 Massachusetts communities. Nexamp will manage the operating assets, using its asset-management expertise to ensure the projects continue to perform at their highest levels.
“As the largest solar solutions provider based in the Northeast, we are proud to bring more Massachusetts projects into our portfolio,” said Zaid Ashai, Chairman and CEO of Nexamp. “This acquisition is a critical part of the accelerating growth that we have worked towards in the last year, including developing, building and commissioning 23 MW over the past six months. Nexamp is on a path for strong organic growth and we will continue to look to augment this growth with acquisitions of operating and pipeline assets.”
The terms of the acquisition agreement were not disclosed.