US based solar electric system provider REC Solar has acquired Stellar Energy in order to boost its sales and operations capabilities.
The company will improve its solar portfolio to more than 200MW by adding more than 60MW from 62 solar projects that are either already installed or are under construction.
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REC Solar is also boosting its O&M portfolio to more than 200MW by adding more than 28MW of operations and maintenance contracts.
Following the deal, the company s will continue providing solar solutions exclusively to the commercial market, manufacturing, retail, technology.
CEO of REC Solar Al Bucknam said: "With nearly two decades of experience working with commercial customers, REC Solar has a unique understanding of how to tailor solar solutions to meet the needs of businesses.
"By enhancing this expertise with Stellar’s team and streamlined customer financing through our partnership with Duke Energy, we’re helping more customers go solar with no money down and immediate energy savings.
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By GlobalData"Our goal is to provide a competitive advantage for our clients while they focus on their core business."
Most of the Stellar Energy’s employees will be retained while Stellar Energy president Ted Walsh will work as REC Solar as vice president of Business Development.
