Gaz Metro Acquires Standard Solar

Valener (TSX:VNR) announced that its main investment, Gaz Métro Limited Partnership, has acquired, through a subsidiary, Standard Solar, Inc. which is a leading solar energy firm specializing in the development, installation and financing of commercial solar electric systems across the United States.
As quoted in the press release:

“Gaz Métro is positioning itself to take full advantage of the projected growth in the solar energy industry, one of the fastest growing sectors in the U.S. What’s more, this acquisition reflects Gaz Métro’s willingness to increase its presence in the renewable energy segment while growing its current business operations,” said Sophie Brochu, President and Chief Executive Officer of Gaz Métro. “Standard Solar is a dynamic and experienced player in a growing industry led by a seasoned and highly competent management team with a sterling reputation and outstanding track record.”
“Solar energy is a thriving industry in the U.S., and this acquisition comes at a perfect time for
Gaz Métro,” continued Ms. Brochu. “With Standard Solar’s expertise and existing platforms, as well as our company’s long-term growth strategy, we are poised for success in the U.S.”
Through the agreement, Gaz Métro indirectly acquires 100% of Standard Solar’s shares. The transaction is pending a regulatory approval and is expected to close in the coming weeks.

Click here for the full press release.