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Onward Energy Completes Purchase Of 1,171 Mw Operating Solar Portfolio From Global Atlantic

Jan 18, 2023•almost 3 years ago

Acquiring Company

Onward Energy

Acquired Company

1 171 MW SOLAR PORTFOLIO

DenverUtilities

Description

Onward Energy ("Onward" or the "Company") is pleased to announce that it has closed on the previously announced acquisition of a 1,171 MW operating solar portfolio from Global Atlantic Financial Group ("Global Atlantic"). The acquisition includes operating solar assets in eight states and establishes the Company as one of the largest operators of solar assets in the U.S. With the closing of this acquisition, Onward owns and operates over 4.3 GW of renewable energy in twenty-two states. The transaction represents the largest renewable investment in the Company's history and further diversifies Onward's 6 GW energy generation portfolio.

Company Information

Company

Onward Energy

Location

Denver, Colorado, United States

About

Onward Energy is an independent power platform that owns and operates over 4,000 MW of utility-scale wind, solar and natural gas generation projects across the U.S. Our Vision is to reliably power a sustainable future. Our Mission is that as North America’s premier independent power generator, we will deliver renewable and reliable power to our customers, opportunities to our associates, sustainable returns to the families who invest in us, and a better world to the next generation. Based in New York, Denver, and Charlotte, Onward Energy is a company where people and power are always on. We are where renewable meets reliable.

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M&A Insights

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Integration timeline
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Tech stack consolidation
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Post-acquisition investment
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