Dive Summary:
- The California-based Edison International completed the acquisition of SoCore Energy, a privately held distributed solar developer based out of Chicago, Edison announced Monday.
- Valued at more than $10 million, the acquisition will expand Edison’s reach in the rooftop solar system market for commercial and industrial customers.
- SoCore’s pipeline of big-dollar clients and impressive sales drove Edison’s purchase. As of last year, SoCore was growing 500% per year and generating sales above $30 million annually. SoCore operates in 11 states and is behind noted rooftop roll-outs at Walgreens, Ikea, Kimco Realty and Simon Property Group.
From the article:
Where Edison is impressed with SoCore's client list and the pipeline of projects it brings to the table, SoCore President and CEO Pete Kadens said, "Aligning with a well-branded and progressive energy partner will enhance our attractiveness to customers and broaden our suite of offerings."
