Aggreko Energy Transition Solutions (ETS), a division of Aggreko, has announced the acquisition of Infiniti Energy from Upper Bay Infrastructure Partners.
Financial details of the deal have not been disclosed.
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Upper Bay is a mid-market infrastructure private equity firm that has transitioned Infiniti Energy into an independent power producer (IPP) platform and institutional ownership. It has now fully exited its position in the company.
Michael Kushner, CEO of Infiniti Energy, has been named general manager of Aggreko ETS’s commercial and industrial business.
Kushner said: “I want to extend a heartfelt thank you to our dedicated team and express our excitement for the growth opportunities this transaction presents for our clients.
“We deeply appreciate the trust our clients and vendors have placed in us over the years and we look forward to continuing to serve them with enhanced resources and expertise.”
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By GlobalDataThe acquisition will expand Aggreko’s distributed solar capabilities and asset base, aligning with its strategic growth in the renewable energy market.
The acquisition brings 12MW of contracted operating solar assets and 22MW of construction-ready solar projects into Aggreko’s portfolio.
A further pipeline of onsite decarbonisation projects will now be part of ETS’s offerings.
This enhances Aggreko’s presence on the East Coast and bolsters in-house capabilities such as power purchase agreement origination and turnkey engineering, procurement and construction (EPC) management.
The combined teams within Aggreko ETS are set to leverage their collective strengths to provide EPC services and sustainable energy solutions.
Aggreko ETS president Jerry Polacek stated: “Combining the global scale, financial strength and industry expertise of Aggreko with Infiniti’s distributed solar development and EPC capabilities uniquely positions us to deliver turnkey decarbonisation solutions to our customers.”
