NOVA Infrastructure, a middle-market infrastructure investment firm, has purchased UGE International, a community solar and battery-storage business. Financial terms were not disclosed.
UGE is a solar operator and developer of rooftop and ground mount commercial, industrial and community solar-energy solutions. Founded in 2010, UGE develops, builds, finances, owns and operates solar and battery-storage projects in New York, New Jersey, Maine, California, Pennsylvania, Oregon, Texas, Illinois, Maryland, Virginia and Massachusetts.
With a track record of designing and building more than 500 megawatts of projects, UGE has a portfolio of more than 12 operating and 81 advanced backlog projects in 11 states.
In May, NOVA agreed to acquire approximately 70 percent of the common shares of UGE, and the transaction has successfully received securityholder and regulatory approval.
“Community solar represents a very fast-growing segment of the U.S. power generation