RES Acquires REG Power Management Asset Business to Strengthen Position in Renewable Energy Market.
M2 EQUITYBITES-March 28, 2019-RES Acquires REG Power Management Asset Business to Strengthen Position in Renewable Energy Market
(C)2019 M2 COMMUNICATIONS http://www.m2.com
28 March 2019 - UK-based global renewable energy company RES has acquired REG Power Management's (RPM) asset management business to strengthen position in renewable energy support services, the company said.
Terms of the transaction were not disclosed.
With the acquisition, RES contracts to manage a portfolio of 43 operational wind and solar projects, increasing its renewable energy support services portfolio to 5gw.
The asset management division of RPM's portfolio includes wind and solar projects owned by BlackRock Inc, John Laing Environmental Assets Group and Equitix.
RPM said the sale will allow RPM to focus on its development business encompassing some 1gw of UK wind and solar projects, which can help meet the UK's urgent requirement for more low-cost renewable energy in the future.
RES is an independent renewable energy company active in onshore and offshore wind, solar, energy storage and transmission and distribution. RES has delivered more than 16gw of renewable energy projects across the globe and supports an operational asset portfolio exceeding 5gw worldwide for a large client base.
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 28, 2019|
|Previous Article:||SmithGroup, Paulien Merge to Expand in Denver, US.|
|Next Article:||United Steel Supply Sells 75% Interest in Steel Dynamics for USD 134m.|