Koch Engineered Solutions said it acquired Arizona-based DEPCOM Power, an engineering, procurement and construction firm that builds utility-scale solar power plants and manages ongoing operations, maintenance, and refurbishment services. Terms were not disclosed.
DEPCOM’s portfolio includes approximately 5 GW of projects representing completed, in-construction, and pre-construction stages across the U.S.
Elements driving Koch’s entry into the renewables space are what it said is the cost-competitiveness of utility–scale solar on an unsubsidized basis, causing solar to become an “increasingly significant part” of the generation mix. It also cited growing energy usage among businesses and households, and what it said was “continued consumer preference” for renewable electricity.
Stinson LLP served as legal advisor to KES on the transaction, and Greenberg Traurig LLP served as legal advisor to DEPCOM.
In late March, solar energy developer Greenbacker said that a 22 MW project in Colorado began commercial operation, including an onsite Tesla battery pack capable of storing up to 2 MWh of energy. DEPCOM Power handled the plant’s engineering and construction and will manage the project and deliver output to Platte River Power Authority, which signed a 20-year power purchase agreement.
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