REC Solar acquired Stellar Energy from Stellar’s parent company Soligent Holdings on Wednesday in an asset purchase agreement.
San Luis Obispo-based REC Solar will add 62 current solar projects and 60 megawatts to its portfolio with the acquisition of Stellar Energy, the leading solar provider in the West.
“We are excited about the breadth of resources REC Solar will bring our clients and our team,” Stellar Energy President Ted Walsh said in a news release. “By combining our complementary services and strong customer relationships, we now have the resources to serve our customers with a fully integrated offering.”
In February, REC sold a majority stake to Duke Energy for $225 million. REC Solar plans to retain most of the staff from Stellar Energy.