Apricus Generation acquires Nexus Renewables, a solar and storage developer

Nexus is the first addition to the Apricus Generation platform: it provides the company with the expertise and capital needed to implement 500 MW of projects

MIAMI, May 29, 2024 /PRNewswire/ — Apricus Generation, a new holding company designed to build a national distributed solar and battery development platform, and an independent power producer (IPP), today announced the acquisition of a controlling interest in Nexus Renewables, Inc., a company Torontodeveloper of the Community Solar and BESS renewable energy projects and independent power producer (IPP). By joining the Apricus platform, Nexus gains additional management expertise, support and capital to successfully grow its 500 MW project pipeline to generation. This strategic acquisition is Apricus’ first since the company announced its launch earlier this year.

The Apricus Generation platform enables consumers and businesses to participate in the energy transition by providing developers with the management expertise and capital to advance energy generation projects. Nexus Renewables, led by its founder, CEO, Keith Sandorhas built a leading software and IPP platform that, combined with Apricus’ capital and management expertise, will be one of the leading IPP platforms in this space.

“We are thrilled to have Nexus Renewables join Apricus as the first developer of our platform. Keith and the entire Nexus team have built a significant pipeline and are one of the top local solar and storage developers in the area North America. Like many independent developers, Nexus has more design options than access to capital. By joining Apricus, they now have access to capital and expertise that will allow them to implement their planned projects,” he said Gautam Chandraexecutive chairman and co-founder of Apricus Generation.

“It’s the perfect solution for us. We are excited to join forces with Apricus Generation and build a leading IPP in the Community Solar and BESS segments. “Nexus Renewables has a proven development and IPP model with a significant pipeline and a team of professionals who can scale quickly and efficiently to capitalize on market opportunities,” he said Keith Sandorfounder and CEO of Nexus Renewables.

“I have worked with Keith in the energy industry for almost twenty years and have been impressed with how Nexus Renewables has quickly become an industry leader,” he said Ravi Thuraisingham, CEO and co-founder of Apricus Generation. “I couldn’t be happier that Nexus is joining the Apricus platform as our first acquisition. With this strategic partnership, we are committed to building a leading one IPP platform built by developers for developers to provide consumers with renewable energy.”

About the Apricus generation

Apricus Generation, Inc. is a new holding company whose task is to build a national platform for the development of distributed solar energy and batteries and an independent power producer (IPP). The Apricus Generation platform enables consumers and businesses to participate in the energy transition by providing developers with the management expertise and capital to advance energy generation projects. The company combines the founders’ many years of experience in the development and investment in clean energy.

For more information visit: https://www.apricus.energy/

About renewable energy sources Nexus

Nexus Renewables is a full-service renewable energy developer and independent power producer with a current portfolio of over 500 MW of solar and energy storage projects in various stages of construction and development across North America. Our projects deliver clean energy and broad economic and environmental benefits for landowners, communities and energy consumers.

For more information, visit www.nexusrenewables.ca.

SOURCE Apricus Generation