Following a trend of increased solar merger and acquisition activity in the U.S., MARS Energy Group, a national solar provider, has announced the acquisition of Nelnet Renewable Energy (NRE), an engineering, procurement, and construction (EPC) and development platform in the commercial and community solar sectors.
The acquisition brings together MARS Energy Group’s established presence and NRE’s comprehensive project execution capabilities. The company said the integration is designed to enhance efficiency and scalability, allowing the combined entity to manage projects from initial development stages through design, construction, and ongoing operations and maintenance.
“This is a pivotal moment for both companies,” said Jim Mars, chief executive officer of MARS Energy Group. “Nelnet Renewable Energy brings exceptional expertise in commercial and community solar EPC and development. By combining our strengths, we can offer a seamless, end-to-end solution for our clients, ensuring projects are delivered faster and more cost-effectively across the nation.”
Nelnet Renewable Energy has track record of project delivery in the Midwest and other key markets. Its integration into MARS Energy Group is expected to accelerate expansion into new regions and strengthen existing operations.
“Joining MARS Energy Group opens up incredible opportunities for our team and our partners,” added an NRE spokesperson. “The shared vision is clear: to be a national leader in delivering sustainable energy solutions. Our combined capabilities will allow us to tackle larger, more complex projects and make a greater impact on the renewable energy transition.”
The newly integrated company is operational immediately, with efforts underway to merge teams and processes.
MARS Energy Group was founded in 2022 and has since acquired and integrated five solar companies, positioning the company to surpass a $100 million revenue run rate.
Before the acquisition, NRE was a brand of Nelnet, Inc. (NYSE: NNI), a publicly traded financial services company with a diverse portfolio and an investment-grade rating. Nelnet’s involvement in renewable energy began in 2018 with a commitment to fund over $142 million for solar projects via tax equity financing. Overall, the parent company facilitated nearly $1 billion in solar projects through its various platforms.
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