SunEdison acquires Oregon's Renewable NRG

Beltsville, Md.-based SunEdison, which provides solar-generated power to commercial, municipal and utility customers, announced today that it acquired Renewable NRG, a solar company based in Portland, Ore.

"Oregon citizens are pioneers in protecting the environment and using renewable energy, and Oregon is an important market for the PV industry," said Thomas Rainwater, CEO of SunEdison.

"We are honored that Renewable NRG has chosen to become a part of our team. Their regional expertise in deploying and servicing photovoltaic systems in Oregon augments the SunEdison experience well."

SunEdison did not disclose the terms of the deal.

The company said it would fulfill existing solar installation contracts and the solar power services agreements of
Renewable NRG, which include photovoltaic systems for Parr Lumber and the city of Hillsboro.

Russ Wright, CEO of Renewable NRG, said "I have long respected the standards and innovation that SunEdison has brought to the solar energy services industry."

"This is a great fit for Renewable NRG customers and for organizations to deploy clean solar electricity without any upfront costs."

SunEdison said Wright would continue developing solar energy services projects on behalf of SunEdison in Portland, serving current Renewable NRG and SunEdison customers.

Last August, SunEdison received a contract from the U.S. General Services Administration to build a $6.9 million solar park at the Denver Federal Center (see SunEdison to build $6.9M solar park).

That 1 megawatt project is expected to generate nearly 10 percent of the one square mile campus' peak electric demand.