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New Deal


Announced

174 Power Global acquires OnForce Solar.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Natural

Renewable Energy Equipment

Pending

Private

Acquisition

United States

solar developer

Single Bidder

Synopsis

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174 Power Global, the US-based solar project development arm of the Hanwha Group, has acquired OnForce Solar, a leading New York commercial solar development firm and community solar business, further advancing its presence in the retail energy and commercial and industrial project development markets. Financial terms were not disclosed. Together, 174 Power Global and OnForce Solar will be able to provide more households with a community solar offering, giving consumers the option to purchase a “share” in a community solar project in order to adopt clean energy practices and reduce electricity costs. “The Northeast market is key geography in our growth strategy, and this acquisition allows us to provide solutions in the underserved midscale commercial solar market while making community solar more available to home and business owners. OnForce Solar has been a pioneer in community solar, and we’re excited to join forces with this reputable and successful company, further expanding our national utility-scale solar development portfolio.” Henry Yun, 174 Power Global President.

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