Elawan bags Google PPA for 37-MW solar project in Texas
Sep 19, 2024 13:49 CESTUS infrastructure builder MasTec (NYSE:MTZ) has concluded its previously announced takeover of renewables specialist Infrastructure and Energy Alternatives Inc (NASDAQ:IEA).
The completion of the transaction took place after clearance by the IEA stockholders at a special meeting held on October 7.
Under the terms of the agreement, MasTec will pay USD 14.00 (EUR 14.29) per share in cash and provide MasTec stock to IEA’s current shareholders. Unveiled in July, the deal valued IEA at USD 1.1 billion, including net debt.
IEA provides engineering, procurement, construction and other related services to developers of infrastructure projects. To date, the company has finalised over 260 utility-scale wind and solar projects across North America.
"Combining IEA's renewable energy business with MasTec's electric transmission and substation capabilities gives customers a one-stop solution in the expanding renewable energy markets. Additionally, IEA's Heavy Civil, Rail and Environmental Remediation services expand MasTec's service offerings in these additional growth markets," stated Jose Mas, MasTec's CEO.
(USD 1 = EUR 1.021)
Elawan bags Google PPA for 37-MW solar project in Texas
Sep 19, 2024 13:49 CESTWorld set to install 593 GW of new solar in 2024 - Ember
Sep 19, 2024 13:28 CESTVistra agrees USD 3.25bn buyout of zero-carbon energy unit
Sep 19, 2024 11:01 CESTIEA urges proactive measures to integrate renewables
Sep 18, 2024 11:17 CESTDYCM to build 2-GW solar module factory in Southeastern US
Sep 18, 2024 10:41 CESTSunrun eyes USD 365m from new solar-storage securitisation deal
Sep 18, 2024 10:22 CEST