AMS Renewable Energy, a distributed solar and storage EPC (Engineering, Procurement, and Construction) company, has announced the acquisition of Collective Solar, a distributed generation solar construction firm.
Collective Solar provides turn-key solar construction and civil and electrical services for commercial developers, funds, and independent power producers.
“This is an exciting opportunity for Collective Solar and our team,” said Colletti. “Joining forces with AMS Renewable Energy allows us to leverage their extensive resources and industry knowledge, enhancing our ability to deliver exceptional solar solutions to our clients. We look forward to contributing to AMS’s growth and continuing to deliver successful projects for clients.”
With the acquisition of Collective and its construction platform, AMS will have in-house resources to scale design, engineering, logistics, procurement, and construction services for its developer and Independent Power Producer (IPP) clients. It also aims to explore growth opportunities nationwide.
Collective Solar CEO and Founder Vincent Colletti will be Head of Construction for AMS Renewable Energy.
“We are thrilled to welcome Collective Solar into the AMS family,” said Abu Riaz, CEO of AMS Renewable Energy. “Their strong track record in solar construction and commitment to creating long-term value for their clients aligns perfectly with our mission. This acquisition will enable us to accelerate the deployment of high-performing renewable energy projects across the region and bring us closer to achieving our goal of a cleaner energy and more sustainable future.”
According to Mercom’s recently released 1H and Q2 2024 Solar Funding and M&A report, 40 solar M&A transactions occurred in the first half of 2024, compared to 48 in the first half of 2023. Brookfield Asset Management, an asset management firm, made the largest deal with institutional partners, including Brookfield Renewable and Singapore’s Temasek Holdings.
Last week, Original Clean Energy, a solar energy and storage system developer (a subsidiary of Clean Royalties), acquired Williston, Vermont-based iSun and its companies SunCommon and Liberty Electric months after declaring bankruptcy.
