Apricus generation has acquired a controlling interest Nexus Renewables Inc., the Toronto-based developer of solar and energy storage projects and Independent Power Producer (IPP).
Apricus is a new holding company designed to build a nationally distributed solar and battery and IPP development platform. By joining the Apricus platform, Nexus will gain the additional expertise, support and capital to effectively scale its pipeline and bring its current 500+ MW project portfolio to production.
Nexus, led by founder and CEO Keith Sandor, has built an industry-leading development and IPP platform that, when combined with Apricus’ capital and strategic oversight, will be one of the leading IPP platforms in this space.
“This suits us perfectly. We are excited to join forces with Apricus Generation and build a leading IPP in the solar and energy storage segments,” said Sandor. “Nexus Renewables has a proven development and IPP model with a significant pipeline and a team of talented professionals who can quickly and efficiently leverage market opportunities.”
The Apricus platform enables consumers and businesses to participate in the energy transition by providing developers with management expertise and capital to advance their project pipeline to generation.
“We are excited to have Nexus Renewables join Apricus as the first developer on our platform. Keith and the entire Nexus team have built a significant pipeline and are one of the top solar and energy storage developers in North America,” said Gautam Chandra, Executive Chairman and Co-Founder of Apricus Generation. “Like many independent developers, Nexus has more project capabilities than access to capital. By joining Apricus, they now have access to capital and expertise to execute on their pipeline.”
This strategic acquisition is Apricus’ first since the company launched earlier this year.
“I have worked with Keith in the energy sector for almost two decades and have been impressed with how Nexus Renewables has quickly grown into an industry leader,” said Ravi Thuraisingham, CEO and co-founder of Apricus. “I couldn’t be happier that Nexus is joining the Apricus platform as our flagship and first acquisition. With this strategic partnership, we aim to build a leading developer-focused IPP platform to bring renewable energy to consumers.”
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