US-headquartered Apricus Generation says it has acquired a controlling stake in Toronto-based Nexus Renewables – its first strategic acquisition.
Apricus Generation said it has acquired a controlling interest in Nexus Renewables, a Canadian solar and storage developer and independent power producer (IPP).
Florida-based Apricus Generation said the deal with Nexus Renewables is its first strategic acquisition since it launched earlier this year. It did not provide any additional details about the financial terms of the transaction.
The business aims to leverage Nexus Renewables’ IPP platform and market standing, while providing support and capital. The companies will collaborate to advance Nexus Renewables’ project portfolio, which reportedly exceeds 500 MW.
“With this strategic partnership, we are committed to building the leading developer-focused IPP platform to bring renewable energy to the consumers,” said Apricus Generation CEO Ravi Thuraisingham.