GIG buys US solar-storage specialist

27 November 2019

Green Investment Group (GIG) has completed the acquisition of Savion, a solar and storage project development company focused on commercial-scale projects in the USA.

Savion was previously part of Tradewind Energy, Inc., a subsidiary of Enel Power North America, and was acquired by GIG in August 2019. It is currently developing projects in more than 25 US states with a combined capacity of 8 GW and will continue to operate on a standalone basis.

GIG said in a statement that the acquisition of Savion, combined with other key partnerships, has helped it to form a solar and storage strategy in which it will provide US based corporates with reliable and cost competitive renewable power from newly developed solar projects through power purchase agreements. “This places GIG at the heart of the fast-growing US renewable energy PPA market,” GIG said.

GIG’s other recent partnerships in building a national US solar development platform include a joint venture with Austin, Texas-based Core Solar LLC with a development pipeline of 2 GW, and the 2018 launch of Candela Renewables, a new developer of utility-scale solar and storage power projects.

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