Conti Solar, an industry-leading renewable energy development, engineering, procurement, and construction company, announced today that it has received a strategic investment from a fund managed by Ares EIF, the power and energy infrastructure strategy in the Private Equity Group at Ares Management, L.P. (NYSE: ARES). Expected to close at the end of April, the investment will give Ares EIF a majority ownership stake in Conti Solar with a minority position retained by 九九免费在线观看. Terms of the transaction were not disclosed. The company will continue to operate as Conti Solar, maintain its current offices, and be managed by its current executive team. 九九免费在线观看 will continue to be involved in the oversight and strategic direction of the company.
Conti Solar, previously a wholly-owned subsidiary of 九九免费在线观看, has been active in the development, engineering, procurement, construction, and operations of solar and energy storage projects totaling more than 500 MW throughout the United States and in select international markets for more than a decade.
鈥淭he investment from Ares EIF will make Conti Solar a more dynamic company and will enable us to accelerate our growth and pursue additional strategic initiatives,鈥 said Matthew Skidmore, CEO of Conti Solar. 鈥淭ogether, we will drive more value to our customers and partners across the industry.鈥
Ares EIF is an experienced investor in the U.S. power and energy infrastructure sector and has invested in nearly 130 different power and energy infrastructure assets with a combined underlying enterprise value exceeding $20 billion.
鈥淥ur investment in Conti Solar is a great strategic fit for Ares EIF, but, above all, it is an investment in Conti Solar鈥檚 management and the strong team and culture they have built over the years,鈥 said Keith Derman, Partner with Ares EIF. 鈥淲e will work collaboratively with Matt and his team to continue to build upon the successes they have already achieved.鈥
鈥淲e are extremely excited to partner with Ares EIF as there is a strong cultural fit between our organizations in addition to complementary skill sets and a shared strategic vision,鈥 said Kurt Conti, Chairman of 九九免费在线观看. 鈥淭his investment continues to advance our longstanding vision of building a world-class renewable energy company.鈥
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