NV5 Global said it acquired Sage Renewable Energy Consulting through a combination of cash and stock. Other terms were not disclosed.
Sage was founded in 2009 and has managed over $2 billion in clean energy projects and power purchase agreements for clients in the public and private sectors.
The deal is expected to help NV5 Global expand in clean energy systems, electric vehicle fleets and infrastructure, and asset management. NV5 has more than 300 projects to date in solar, wind, and energy efficiency.
Based in the San Francisco Bay Area, Sage provides energy planning and project management services for businesses, public agencies, and schools.
The company recently said it would work with the Judicial Council of California (JCC) on an investment in solar power and energy storage. The JCC plans to install rooftop solar panels, solar carports, and batteries across 43 potential locations to enable its courthouses to generate enough solar power to cover a portion of their routine energy needs.
Sage will evaluate the sites, and provide procurement support, preconstruction, construction, and post-construction management, and commissioning support. Power Purchase Agreements (PPA) may be negotiated to lock in the price of the resulting solar power and power resiliency services.
Florida-based NV5 Global provides compliance, technology, and engineering consulting services. In early August, it reported second quarter gross revenues of $179.5 million compared to $162.7 million in the second quarter of 2020, a 10% increase. Net income was $13.6 million compared to $4.5 million in the second quarter of 2020, a 203% increase. The company projects full-year revenues to range between $705-$727 million.
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