Wednesday, June 17, 2015

REC Solar Buys Stellar Energy

San Luis Obispo-based REC Solar has acquired solar provider Stellar Energy, in an asset purchase, the company announced this morning. Financial details of the acquisition were not disclosed. According to REC Solar, the move will help it expand in the commercial business market. Stellar Energy had provided solar power systems exclusively to commercial businesses. In addition, REC Solar said that the deal adds more than 60 megawatts from 62 solar projects into its portfolio. REC Solar is led by Al Bucknam; the company is actually now owned by Duke Energy, which acquired the majority of REC Solar in February.