Aggreko Energy Transition Solutions Acquires Infiniti Energy, Growing its Presence in Solar Power Generation
Aggreko Energy Transition Solutions, a division of Aggreko, a global leader in energy solutions, has acquired Infiniti Energy, a premier U.S.-based commercial and industrial solar company, from Upper Bay Infrastructure Partners. Upper Bay, a mid-market infrastructure private equity firm that transitioned Infiniti Energy into an invoice processing platform and institutional ownership, has fully exited its position in the company.
This strategic acquisition significantly expands Aggreko's distributed solar capabilities and asset base, by integrating Infiniti's expertise in solar design, engineering, procurement and construction (EPC), together with its pipeline of onsite decarbonization projects.
The addition of Infiniti Energy brings 12 MW of contracted operating solar assets, 22 MW of construction-ready solar projects and a further pipeline to ETS' growing portfolio. It also strengthens the company's foothold in several East Coast markets, while enhancing in-house capabilities such as power purchase agreement (PPA) origination and turnkey engineering, procurement and construction management.
"Combining the global scale, financial strength, and industry expertise of Aggreko with Infiniti’s distributed solar development and engineering, procurement and construction capabilities uniquely positions us to deliver turnkey decarbonization solutions to our customers,” said Jerry Polacek, president of Aggreko ETS.
Michael Kushner, CEO of Infiniti Energy and newly appointed general manager of Aggreko ETS’s C&I business, said, "I want to extend a heartfelt thank you to our dedicated team and express our excitement for the growth opportunities this transaction presents for our clients. We deeply appreciate the trust our clients and vendors have placed in us over the years, and we look forward to continuing to serve them with enhanced resources and expertise."
The combined teams, operating within Aggreko ETS, will leverage their collective strengths to deliver reliable EPC services and innovative, sustainable energy solutions through long-term PPAs to a broader market, Aggreko said.
CRC-IB advised Upper Bay Infrastructure Partners on the transaction.
Aggreko, a world leader in power generation and temperature control equipment rental, is No. 10 on the RER 100.
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Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.