Energy efficiency and renewable energy company Ameresco Inc. has acquired TerraNavigator LLC, a California-based firm that specializes in the origination and development of solar assets on environmentally impacted sites throughout the U.S.
With this acquisition, Ameresco, which is based out of Massachusetts, will expand its pipeline of potential renewable energy projects. The company will focus on converting these opportunities into assets that it will own and operate.
“We are excited to bring TerraNavigator into the Ameresco family,” says Lou Maltezos, executive vice president of Ameresco. “In addition to their pipeline of project opportunities, the TerraNavigator team brings experience and knowledge in the renewable energy industry that adds to our existing expertise and represents an ideal fit with Ameresco’s strategy. We look forward to advancing our footprint and capabilities in California and the Central and Northwest U.S. as we continue to execute on the company’s strategy in the distributed energy resource space.”
As part of the transaction, Ruben Fontes, formerly CEO of TerraNavigator, has joined Ameresco as senior vice president of large-scale distributed energy resources.
“Our team could not be more pleased by this partnership,” says Fontes. “We look forward to integrating our platform seamlessly into the Ameresco suite of value-driving, customer-focused solutions that are focused on and guided by clean energy and sustainability.”