NOVA Completes Purchase of UGE International
Summary
“ Community solar represents a very fast-growing segment of the US power generation market with strong regulatory tailwinds supporting UGE’s portfolio of long-lived assets,” said Chris Beall, Co-Founder and Managing Partner at NOVA. 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. UGE is a highly differentiated community solar and battery storage platform positioned for growth with a vertically integrated business model, significant project diversification, and an experienced management team. NOVA partnered with the veteran management team of UGE with the goal of building the leading community solar and battery storage platform in the U.S. middle market. NOVA seeks to make investments that pair the downside protection features of the infrastructure asset class with operationally focused, value-added upside strategies.