© mikael damkier Business | February 24, 2017

SunEdison's commercial & industrial division sold

Japanese Mitsui has acquired the Commercial and Industrial (C&I) Division of SunEdison, which specializes in the development and operation of distributed solar generation for C&I customers.
Earlier this month the Japanese company announced that it had bought the remainder of SunEdison's commercial business – for USD 15 million. The principal assets and employees will form part of Forefront Power LLC, a newly established company incorporated and wholly owned by Mitsui. In addition to distributed solar generation, Mitsui hopes to expand Forefront Power's offerings to include a range of energy management services for C&I customers.

Mitsui sees distributed solar generation as a key growth area in a society which places an increasing emphasis on environmental, social, and corporate governance (ESG), as well as the need for greater grid resiliency. Governmental incentives and the continuing decline of PV module prices also serve as a driving force for the industry.

Mitsui has been stepping up its activities in new and innovative power businesses, and Mitsui sees Forefront Power serving as a platform for providing a range of services to meet the diverse needs of C&I customers.


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August 22 2017 10:36 AM V8.6.0-1