Betting on #Solar- Acquisitions on the
Rise;(OTCQB: $SING) (NYSE: $ADT) (NASDAQ: $ISUN) (NYSE: $NEE) @_Singlepoint_ @ADT @isun_energy @nexteraenergy
Point Roberts WA, Delta, BC –December 3, 2021 - Investorideas.com, a leading investor news resource covering solar and renewable energy stocks releases a special report on solar and renewable energy acquisitions, as many companies look to the future of clean energy for long term investments.
Read this article, featuring SING in full at https://www.investorideas.com/news/2021/renewable-energy/12031Acquisitions-SING-ADT-ISUN-NEE.asp
Solar Industry reported, “Mercom Capital Group’s second-quarter/first-half 2021 report on funding and merger and acquisition (M&A) activity in the solar sector shows that total corporate funding (including venture capital funding, public market and debt financing) in 1H of 2021 came to $13.5 billion compared to $4.6 billion in 1H 2020, representing a 193% year-over-year increase.“
“Solar project acquisitions in 1H 2021 reached 39.3 GW compared to 14.7 GW acquired in the same period last year. Project acquisition activity was at a record high in Q2 2021, with over 24 GW of solar projects acquired compared to 14.6 GW in Q1 2021.”
Already established in the solar and cleantech sector, SinglePoint, Inc. (OTCQB:SING) recently announced entering into an agreement to acquire 80.1% of Boston Solar, a leading full EPC solar installer in New England. The transaction is contingent on completion of the on-going audit and the subsequent financing and is expected to close prior to year-end or within the first quarter of 2022.
From the news: In July 2020, SinglePoint announced its intentions to prioritize and reallocate Company assets and focus its business strategy around the emerging and growing market opportunities in residential and solar energy. At that time, the Company introduced a residential and small commercial solar centric rollup strategy designed to increase market share, revenues and most importantly build a future business focused on revenue growth and profitability. The current advancements in the technology related to solar PV and energy storage create a long-term market opportunity for SinglePoint' s renewable energy and storage business, as there is only approximately 4% current penetration of the addressable solar market for both residential, small commercial and light industrial.
From the news: "Our next phase of non-organic growth is designed to be facilitated through targeted acquisitions that meet our criteria and that match the growing demand for renewable energy and energy storage," stated Wil Ralston, CEO of SinglePoint Inc. "SinglePoint has clearly defined criteria for installer or developer based solar acquisitions focusing on installers with a strong local brand and presence that are dedicated to a customer centric approach, led by an experienced and dedicated team of professionals. We began substantive discussions with Boston Solar in the first half of this year and confirmed that its executive team meets our acquisition criteria and represent a key strategic pillar within our solar strategy. The Boston Solar team has delivered proven results, and we are excited to close this transaction and work together to take advantage of the market opportunity that will benefit Boston Solar, SinglePoint and all shareholders."
From the news: Upon completion of the acquisition, the CEO and Co-Founder of Boston Solar, Daniel Mello Guimaraes will join the SinglePoint team and spearhead the EPC acquisition strategy. Mr. Mello Guimaraes will continue to oversee the day-to-day operations of Boston Solar in addition to identifying accretive tuck in acquisitions facilitated by SinglePoint that would benefit Boston Solar. In addition, there are efficiencies and operational synergies within SinglePoint's current solar assets, when combined with the demonstrated expertise of Mr. Mello Guimaraes and the Boston Solar team, that should be accretive and enhance overall margin as we grow revenue and strategically expand our renewable energy and storage footprint.
"This acquisition is a strategic fit for Boston Solar given the shared customer centric approach and commitment to enabling and enhancing the growth opportunities at Boston Solar. Over the past few months, the senior leadership teams at Boston Solar and SinglePoint met to ensure alignment in approach, mission and vision," added Mr. Mello Guimaraes. "Boston Solar has been serving the New England market primarily in Massachusetts since its inception in 2011, and we look forward to continuing to provide exceptional service to our existing and future customers looking to implement solar, renewable energy and energy storage solutions. Boston Solar is well-positioned for growth over the next decade and I look forward continuing to lead the company as we expand and increase our regional footprint and scale our commercial solar and energy storage offerings."
From the news: Over the past 10 years, Boston Solar has been providing premium residential and commercial solar installations to the communities it serves. The company has been able to achieve scalable, consistent growth, expecting to surpass $25 million in revenue in 2022.
"Over 100 million people in the United States alone would benefit by going solar. Over the past six months, and throughout the due diligence process with the Boston Solar executive team, it became obvious that we have a shared and aligned passion for the renewable energy industry and a commitment of putting the customer first, which is reflected in their customer reviews. This is the first of many acquisitions to come in the space, with the near-term goal of providing a best-in-class national solutions for customers looking for renewable energy and storage solutions," stated Mr. Ralston.
Mr. Ralston concluded, "SinglePoint is focused and committed to continued execution of our renewable energy vision and strategy. The addition of Boston Solar a premium solar installer perfectly aligns with our acquisitions strategy. We believe this clarity and alignment between the companies will continue to propel us towards our goal of becoming an industry leader and deliver maximum value to our shareholders, customers and partners."
ADT Inc. (NYSE: ADT), a brand in smart home and small business security announced an agreement to acquire Sunpro Solar (Sunpro), ranked #2 for 2021 Top Residential Rooftop Solar Contractors1 in the U.S., for $160 million in cash plus approximately 77.8 million shares of ADT common stock, implying a total enterprise value of approximately $825 million, subject to certain adjustments. ADT will rebrand Sunpro to “ADT SolarTM” and enter the rooftop solar business to offer ADT customers a protected, connected, and now powered home.
From the news: “With its strong focus on the customer, Sunpro is the perfect partner for ADT and a logical extension of our ecosystem, unlocking an integrated home experience that includes security, automation, and energy management,” said Jim DeVries, ADT President and Chief Executive Officer. “By combining a cash-flow-positive company in the high-growth solar space with ADT’s trusted brand, national footprint, and cross-sell potential, we can expand offerings to our customers and accelerate growth for both ADT and ADT Solar.”
From the news: “We’re excited to offer consumers even more peace of mind by giving them the opportunity to power their homes with sustainable and affordable solar energy. Residential solar represents a $15 billion annual market, but still only in 3 percent of all U.S. homes,” DeVries continued. “With more than 6 million ADT customers and our best-in-class sales force and marketing channels, we will be well-positioned to further scale ADT Solar while lowering customer acquisition costs and accelerating overall solar adoption. We believe we have the potential to grow ADT Solar into a multi-billion-dollar business over time as we meaningfully increase the accessibility and penetration of residential solar across America.”
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 a provider of proprietary electric vehicle charging platforms is also adding to the sector having recently announced that it has reached a definitive agreement to make a strategic minority interest equity investment in Encore Renewable Energy, a leading innovator in community-scale clean energy and Top 20 US commercial solar developer.
From the news: iSun’s investment aligns with its previously stated growth objectives. First announced in late 2019, iSun’s growth strategy highlighted the specific steps the Company would take to accelerate the nation’s transition to solar energy across all sectors. The investment compliments two of the strategy's key pillars - organic growth organic regional growth by expanding relationships with existing Industrial and Utility customers, and investment in companies capable of increasing project pipeline opportunities.
From the news: "This new infusion of capital from iSun will allow us to more than double our project development pipeline over the next 12 months," offered Chad Farrell, CEO and Founder of Encore Renewable Energy. "Deploying additional community-scale solar and solar + storage solutions across the Northeast and other strategic markets supports our ongoing work to accelerate the transition to a robust clean energy economy powered by low cost, carbon free renewable resources."
NextEra Energy, Inc. (NYSE: NEE) recently announced that a subsidiary of NextEra Energy Resources, LLC has entered into an agreement to sell a 50% non-controlling interest in an approximately 2,520 megawatt (MW) portfolio of long-term contracted renewables assets (the portfolio) to the Ontario Teachers' Pension Plan Board (Ontario Teachers' or the investor), one of the world's largest pension plans and a leading infrastructure investor, with approximately C$227.7 billion in net assets. The remaining 50% interest in the portfolio is under an agreement to be sold by NextEra Energy Resources to NextEra Energy Partners, LP (NYSE: NEP) pursuant to a purchase and sale agreement executed on Oct. 21, 2021 between a subsidiary of NEP and a subsidiary of NextEra Energy Resources.
The sale proceeds are expected to be redeployed into new wind, solar and battery storage growth opportunities, including NextEra Energy Resources' more than 18,000-MW renewables and storage backlog. This attractive capital recycling opportunity provides significant value to NextEra Energy Resources and highlights the value of its renewables development platform. Over the operating life of the assets in the portfolio, NextEra Energy Resources is also expected to receive ongoing annual fee income of approximately $16 million in year one and escalating thereafter for operations, maintenance and management services, and the transaction is expected to be accretive to earnings and generate an overall improvement in net present value for NextEra Energy shareholders.
From the news: "We are excited to make this significant investment and to grow our global portfolio of high-quality renewable energy assets," said Chris Ireland, managing director, Greenfield and Renewables at Ontario Teachers'. "NextEra Energy is one of the world's leading renewable energy companies and they share our focus on shaping a better future through the development of sustainable energy. This investment marks the beginning of what we expect will be a long-term partnership with NextEra Energy."
Companies are betting big on renewables because they know the global trend is not going away as climate change reminds us all that clean energy is the right path for the future.
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