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.
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.
MARS Energy Group was founded in 2022 and has since acquired and integrated eight solar companies.
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.
This article has been amended to remove previously reported inaccurate figures about Mars Energy Group’s revenues.
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