European Developer buys stake in NCRE
A 49% stake in NCRE has just been purchased by PS Renewables out of Europe.*
The purchase forwards PS Renewable’s ambitions in the US, giving it co-developer status for the potential 1.1GW pipeline that NCRE has access to. NCRE expects to co-develop 135MW of their pipeline in partnership with PS Renewables within the next six months as a result of the deal.
“This new relationship with the team at PS Renewables will take the business into new development levels and will see a number of important new clients added to the already impressive portfolio of customers,” said Dan Shaffer, president, NCRE.
PS Renewables will work with NCRE on projects in the US from 1MW to over 100MW, a scale not frequently achieved in Europe.
“Our first US connection was always going to be a big deal, as building in another country is a tough ask, but the teams nailed this impressive milestone, something we’re all very proud to be part of,” said Hazell. “This is a fantastic time for any aspirational business in the United States, and the renewables sector is growing extremely fast. We’re incredibly pleased to have identified the right locations to grow and build our development and EPC business, as a new European solar company entering the market – and clearly NCRE will also play a critical part in this,” said Matt Hazell, commercial director for PS Renewables’ UK business.
The future looks bright and sunny for NCRE and their new partner, PS Renewables.
*On March 2018 the 49% stake in NCRE was changed to 51%