Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
Sep 19, 2024 11:01 CESTUS integrated solar energy company SolarMax Technology Inc (NASDAQ:SMXT) has decided to expand its offering at home with the addition of engineering, procurement and construction services (EPC) for large-scale solar systems, coupled with an electricity vehicle (EV) charging option.
The company said that it has already signed a memorandum of understanding (MoU) with an unnamed customer for its first major commercial solar installation project in Las Vegas. The pact envisages a 4.27-MW PV solar power plant, a 2-MW energy storage system and 10 EV charging stations capable of charging 20 vehicles simultaneously.
Established in 2008, SolarMax, which went public earlier this year, specialises in the sale and installation of photovoltaic (PV) and battery backup systems for residential and commercial customers, as well as sales of LED systems and services to government and commercial users.
The company has been also active in China since 2016 where its operations consist mostly of identifying and procuring solar farm projects for resale to third parties and performing EPC services primarily for solar farm projects.
“By leveraging our experience and success in building large-scale solar installations overseas, we believe we are well-positioned to establish a presence in the burgeoning US solar market,” said CEO David Hsu.
Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
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