Today one of the biggest names in the residential solar industry has returned: Sungevity. Solar Spectrum, which was created from a bankrupt Sungevity’s assets, has announced that it officially merged with residential installer Horizon Solar Power on August 17.
The combination of the two companies will revive the Sungevity brand, an orange presence in the solar landscape which was the fourth-largest residential installer in the United States before going belly up this spring, with unpaid employees and angry customers notified by email.
The new Sungevity states that it will also be the nation’s fourth-largest residential solar installer, and the second-largest in California. pv magazine was unable to independently verify this market position by press time.
Horizon CEO Frank Kneller will serve as the CEO of the combined business, which will have a new leadership team. According to Solar Spectrum, the merger was arranged by Solar Spectrum’s shareholders, led by majority owner Northern Pacific Group, which snatched up Sungevity’s assets in a bankruptcy court-approved sale in April.
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