Nelnet Acquires Solar Construction Firm GRNE Solutions

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LINCOLN, Neb. , July 5, 2022 /PRNewswire/ — Nelnet (NYSE: NNI) introduced right now a controlling funding in associates of GRNE Options, LLC (GRNE), Usually acknowledged as GRNE Photo voltaic, A quantity one Midwest solar engineering, procurement, and enchancment (EPC) agency. As properly as, Nelnet acquired sure solar belongings from an affiliate of GRNE, some already producing power and completely differents presently being constructed. The transmovement closed July 1, 2022.

GRNE designs and installs residential, enterprise and utility-scale solar methods in Unproperlyinois, Indiana, Iowa, Nebraska, Missouri And shortly in Colorado. Its solar tasks typically generate between 1 megawatt (MW) To 5 MWs of power. GRNE furtherly provides battery backup, electrical car charging, power monitoring, and operations and upmaintain providers.

Based mostly in Palatine, Unproperly., and Lincoln, Neb., GRNE was established in 2012 by Jess Baker and Eric Petime periodan. The co-founders will proceed To steer GRNE and retain a minority possession curiosity Inside The agency. Today, GRNE has grown to Greater than 80 staff in seven office places Inside their service space.

“We’re excited to companion with Jess, Eric and the GRNE group to velocity up their progress plans and our diversification into solar enchancment,” said Scott Gubbels, Nelnet authorities director of tax and renewable power. “The GRNE group has earned A strong popularity Inside the solar enterprise For his or her tradition, worths and extreme-extreme quality execution and enchancment administration. Collectively, We’ll create A singular reply Inside the renewable space, together with EPC providers, financing solutions and subscription administration.”

Nelnet is a diversified and revolutionary agency, which Consists of a mannequin devoted to renewable power choices and solutions, Nelnet Renewable Energy. By way of tax-equity investing, its tax co-investing platform, group solar subscription and campus solar enchancment solutions, Nelnet Renewable Energy currents vital worth to its companions and clients within numerous industries. Since its preliminary funding in 2018, Nelnet Renewable Energy has increaseed its solar funding portfolio, together with with co-buyers, to Greater than $240 million In further than 200 solar tasks. As properly as, Nelnet Renewable Energy acquires and handles hundreds of subscribers for our group solar enchancment companions.

“This acquisition currents A strong alternative for The enlargement of GRNE and for Nelnet’s proceedd enlargement into the renewable power space. With Nelnet’s conagencyed monitor doc for rising and scaling enterprise As properly as to GRNE’s enterprise expertise, We’ll proceed To carry out superb issues. Photo voltaic power is a key factor To carry outing the power goals of The Prolonged time period, and we are proud to be An factor of The reply,” said Jess Baker, co-founder and president of GRNE Photo voltaic.

This acquisition combines two complementary companies that understand the essential want for renewable power Finally. GRNE brings Greater than a decade of solar engineering and enchancment expertise and Shall be In a place to leverage Nelnet’s years of Buyer assist expertise, monetary power, and asset administration expertise To fulfill its growing demand.

“With Nelnet’s funding in GRNE, We now have planted ancompletely different seed in the direction of a cleaner future,” said Gubbels.

About GRNE
Since 2012, GRNE has been designing and placing in enterprise, residential and utility scale solar methods all through the Midwest. Its full-service group embraces consultants, engineers, enterprise handlers, electricalians and solar installers. Collectively, the GRNE group has over three many years of renewable power and inexpertised enchancment expertise and has proudly generated over 35 gigawatt hours (GWh) Of unpolluted renewable power. Go to GRNEPhoto voltaic.com

About Nelnet
Nelnet (NYSE: NNI) is a publicly traded diversified monetary providers and know-how agency focused on offering instructional providers, know-how solutions, expert providers, telecommunications, renewable power, and asset administration. Nelnet has almost $21 billion in belongings, together with a $17.6 billion mortgage portfolio, and providers virtually $560 billion in mortgage belongings. Since 2018, Nelnet Renewable Energy has funded or dedicated to The enchancment of Greater than $1.5 billion of solar power tasks via tax equity financing. From this basis, The agency has broadened its engagement Inside the renewable power sector by including administrative and administration providers for tax equity fundings, group solar subscriber acquisition and administration and solar enchancment. To study extra visit NelnetInc.com. 

Forward-Wanting and Cautionary Statements

This press launch inagencys forward-looking statements Contained in the which Method of federal securities regulations. The phrases “anticipate,” “proceed,” “anticipate,” “alternative,” “plan,” “potential,” “will,” and comparable expressions, As properly as to statements in future tense, are meant to decide forward-looking statements. These statements are based on administration’s current anticipateations as of the date of this launch and are topic to acknowledged and unacknowledged risks, unsureties, assumptions, and completely different factors Which will set off the exact outcomes and efficiency of The agency to be materially completely different from any future outcomes or efficiency expressed or implied by such forward-looking statements. Such factors embrace, however Aren’t restricted to, risks and unsureties associated to the anticipated advantages from the introduced acquisition and The power to effectively combine solar EPC operations with The agency’s companies and further penetrate current markets, increase into new markets, and meet The agency’s anticipateations relating to market progress; The power to effectively maintain aggressive advantages with respect to the acquired solar EPC operations and completely different associated providers; potential modifications Inside the solar-generated electricality market, together with modifications Inside The current of rebates, tax credit and completely different monetary incentives, decreases to federal solar tax credit, potential decreases Inside the retail worth of utility-generated electricality or electricality from completely different power sources, and potential modifications Inside the demand for solar EPC providers; the proceedd capability to handle prices Related to solar EPC providers; risks and unsureties associated to tax-equity fundings in solar tasks, together with risks of not With The power To understand tax credit which stay topic to recapture by taxing authorities; and risks and unsureties associated to the COVID-19 pandemic, together with potential future impacts from COVID-19 variants on the macroeconomic environment and shopper conduct. All forward-looking statements On this launch are as of the date of this launch. Although The agency might voluntarily replace or revise its forward-looking statements As quickly as Shortly To mirror exact outcomes or modifications Inside The agency’s anticipateations, The agency disclgoals any dedication To take movement besides as required by regulation.

Supply Nelnet Renewable Energy

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