Civic Renewables buys solar firm Florida Power Management

Civic Renewables, a renewable energy platform launched earlier this year, announced its third acquisition with the purchase of Florida Power Management (FPM), a solar energy company operating in Orlando and Tampa.

FPM sells solar systems and installs solar panels on residential homes and commercial properties. The announcement does not mention the price for which the business was sold.

Civic was launched in June to act as a national parent company for local clean energy businesses. It was founded with the backing of climate change and pollution mitigation-focused private equity firm GEF Capital.

In June, the company took over two solar installation businesses -- Green Rack Solar, which is active in Western Pennsylvania and Ohio, and Ipsun Solar, which operates across Northern Virginia, Washington DC and Maryland.

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