US-based Apricus Generation says it has acquired a controlling interest in Toronto-based Nexus Renewables – its first strategic acquisition.

Photo: TheInnyKev, Pixabay

Apricus Generation announced that it has acquired a controlling interest in Nexus Renewables, a Canadian solar and storage developer and independent power producer (IPP).

Florida-based Apricus Generation said the deal with Nexus Renewables is its first strategic acquisition since its launch earlier this year. It did not provide any additional details about the financial terms of the transaction.

The company’s goal is to leverage Nexus Renewables’ IPP platform and market position while providing support and capital. The companies will collaborate to develop Nexus Renewables’ project portfolio, which is reported to exceed 500 MW.

“Through this strategic partnership, we are committed to building a leading developer-focused IPP platform to bring renewable energy to consumers,” said Apricus Generation CEO Ravi Thuraisingham.

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