KDC Solar LLC, a portfolio company of Diamond Castle Holdings LLC has been acquired by CI Renewables; a leader in providing bespoke clean energy solutions for companies and institutions with large and complex electric loads.
Firstly, CI Renewables announced this Monday the acquisition; however, the actual transaction closed back in January 2020. According to the company’s statement, the announcement delayed due to Covid-19 pandemic complications; and the need from CI to finalize solar projects in Maryland, California and Virginia.
Secondly, as said above CI Renewables bought the 100% of the membership interests of KDC Solar LLC from Diamond Castle Holdings LLC and members of management of KDC Solar LLC.
Thirdly, CI Renewables will continue the work of KDC Solar; it will continue the pursue of commercial and industrial solar and other renewable projects development; particularly in selective states of the U.S.
Moreover, just recently CI Renewables announced the financing of its 29 MWs of solar projects for Howard County Maryland with CleanCapital; additionally, the company will soon announce the closing of the financing for a 10 MW project in Madera California.
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Solar projects for Maryland, Virginia, and N.J.
In addition, CI Renewables is actively pursuing new solar projects in Maryland, Virginia and New Jersey.
Furthermore, according to the company’s statement, CI Renewables will continue KDC Solar’s legacy as a leader in providing bespoke clean energy solutions; specifically, to those entities with large and complex electric loads greater than 2 MWs.
In fact, customers of CI Renewables as well as the former KDC received solar energy without any capital investment. Particularly, CI has more than a decade of experience with a number of complex projects that total over 115 MWs across 19 projects.
Indeed, through its subsidiaries CI Renewables has driven cost savings across varying industries and institutions; including nationally recognized, multinational companies in the pharmaceutical, e-commerce; also, technology, glass manufacturing, publishing, consumer goods; as well as hospitals, also, governments and educational institutions.
Finally, no financial or technical details were disclosed about the acquisition. However, CI highlighted that it will continue to be headquartered from 1420 U.S. Route 206, Suite 120 in Bedminster, New Jersey.