M&A Deal Summary

Duke Energy Renewables Acquires REC Solar

On February 9, 2015, Duke Energy Renewables acquired renewable energy company REC Solar from Mainstream Energy

Acquisition Highlights
  • This is Duke Energy Renewables’ 1st transaction in the Renewable Energy sector.
  • This is Duke Energy Renewables’ 1st transaction in the United States.
  • This is Duke Energy Renewables’ 1st transaction in California.

M&A Deal Summary
Date 2015-02-09
Target REC Solar
Sector Renewable Energy
Buyer(s) Duke Energy Renewables
Sellers(s) Mainstream Energy
Deal Type Divestiture

Target

REC Solar

San Luis Obispo, California, United States
REC Solar, Inc. is a provider of residential solar electric system design and installation with a local presence in all major solar markets in the U.S. By providing innovative products, efficient processes and integrated services, REC Solar’s residential solar solutions deliver high-quality systems while lowering the cost of solar power for all.

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Buyer(S) 1

Buyer

Duke Energy Renewables

Kansas, United States
Category Company
Founded 2007
Sector Renewable Energy
DESCRIPTION

Duke Energy Renewables LLC is a provider renewable energy services.

DEAL STATS #
Overall 1 of 4
Sector (Renewable Energy) 1 of 4
Type (Divestiture) 1 of 4
State (California) 1 of 2
Country (United States) 1 of 4
Year (2015) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-07 SolAmerica Energy - 4.7 megawatts Solar Projects

Atlanta, Georgia, United States

SolAmerica Energy LLC - 4.7 megawatts Solar Projects includes Hancock County Solar Farm in Sparta, Ga.: 1 MW direct current (DC) / 769 kW AC, Johnson County Solar Farm in Wrightsville, Ga.: 1 MW DC / 769 kW AC, Ware County Solar Farm in Waycross, Ga.: 1 MW DC / 769 kW AC, Wilcox County Solar Farm in Abbeville, Ga.: 1 MW DC / 769 kW AC, Decatur County Solar Farm I In Bainbridge, Ga.: 1 MW DC / 769 kW AC, Decatur County Solar Farm II In Bainbridge, Ga.: 1.1 MW DC / 834 kW AC.

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Seller(S) 1

SELLER

Mainstream Energy

San Luis Obispo, California, United States
Category Company
Founded 2005
Sector Renewable Energy
DESCRIPTION

Mainstream Energy Corp. is a provider of solar energy services.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 REC Solar

San Luis Obispo, California, United States

REC Solar, Inc. is a provider of residential solar electric system design and installation with a local presence in all major solar markets in the U.S. By providing innovative products, efficient processes and integrated services, REC Solar’s residential solar solutions deliver high-quality systems while lowering the cost of solar power for all.

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