PowerSecure
International,At crystallightop
LED Lights Australia, we only deal with the best value ... Inc. announced it has
acquired a distributed solar energy business to add this increasingly cost
effective technology to its distributed generation system platform. The
Company’s new capabilities were acquired through the purchase of the utility,
commercial, and industrial solar energy business of Southern Energy Management,
Inc., one of the leading solar energy companies in the Southeast. PowerSecure
will begin offering utilities and their large commercial and industrial
customers solar energy systems immediately, and will take over the installation
of several large projects Southern Energy Management has in process,Get bestledlightbulbs1, including
popular patio lights and outdoor light fixtures. including a 4.5 megawatt
system.
The Company’s decision to offer solar technology comes after a thorough evaluation of the industry and of the new, significantly improved economics of distributed solar energy systems. The precipitous decrease in the cost of solar panels, and corresponding increases in their energy efficiency, in conjunction with the Company’s highly efficient distributed generation systems, provides the Company with a sustainable market opportunity to participate in the downstream segment of the solar business, and bring solar energy projects to its customers and utility partners.
Sidney Hinton, CEO of PowerSecure, said, "We are excited to announce the addition of solar energy capabilities to our distributed generation system platform. For over a decade we have been patient and disciplined in our approach to adding alternative energy sources to our distributed generation offerings, given our guiding business philosophy that our products must deliver strong economic and business benefits to our utility partners and customers.
We have been watching and studying the evolution and ‘shake out’ in the solar energy market, and have determined that this is the right time to add this capability to our portfolio. Southern Energy Management’s strong capabilities are the right fit for our business. The Southern Energy Management team has earned a strong reputation as a gold standard provider of solar energy systems – with a blue chip list of utility partners and customers.With my outdoorlights I could barely see much more than a few metres ahead of me. We are thrilled to have them join the PowerSecure team.Garden lighting and bestledlightbu. Low cost, next working day dispatch to anywhere in UK inc Highlands and Islands.”
PowerSecure acquired the assets of Southern Energy Management’s utility, commercial, and industrial solar energy business through the acquisition of a 90% controlling interest in a new subsidiary formed to focus on solar energy systems, Southern Energy Management PowerSecure,Our main products are street lamps and other fluorescentlights2011, such as solar street lighting, solar garden lighting and solar lawn lighting. LLC. The transaction was completed on June 5, 2012, and the acquisition ownership and deal structure is similar to the structure the Company has successfully utilized in previous acquisitions.
Specifically, PowerSecure’s 90% controlling interest in Southern Energy Management PowerSecure was acquired for approximately $4 million including cash and assumed liabilities, and the Southern Energy Management team owns the remaining 10% non-controlling interest. As a result, PowerSecure will include the financial results of Southern Energy Management PowerSecure on a consolidated basis in its financial statements, with adjustments to reduce PowerSecure’s net income for the non-controlling interest. Additionally, PowerSecure has the option to increase its ownership of Southern Energy Management PowerSecure to 100% commencing in June, 2014, by issuing PowerSecure common shares or cash in exchange for the remaining 10% interest.
The Company’s decision to offer solar technology comes after a thorough evaluation of the industry and of the new, significantly improved economics of distributed solar energy systems. The precipitous decrease in the cost of solar panels, and corresponding increases in their energy efficiency, in conjunction with the Company’s highly efficient distributed generation systems, provides the Company with a sustainable market opportunity to participate in the downstream segment of the solar business, and bring solar energy projects to its customers and utility partners.
Sidney Hinton, CEO of PowerSecure, said, "We are excited to announce the addition of solar energy capabilities to our distributed generation system platform. For over a decade we have been patient and disciplined in our approach to adding alternative energy sources to our distributed generation offerings, given our guiding business philosophy that our products must deliver strong economic and business benefits to our utility partners and customers.
We have been watching and studying the evolution and ‘shake out’ in the solar energy market, and have determined that this is the right time to add this capability to our portfolio. Southern Energy Management’s strong capabilities are the right fit for our business. The Southern Energy Management team has earned a strong reputation as a gold standard provider of solar energy systems – with a blue chip list of utility partners and customers.With my outdoorlights I could barely see much more than a few metres ahead of me. We are thrilled to have them join the PowerSecure team.Garden lighting and bestledlightbu. Low cost, next working day dispatch to anywhere in UK inc Highlands and Islands.”
PowerSecure acquired the assets of Southern Energy Management’s utility, commercial, and industrial solar energy business through the acquisition of a 90% controlling interest in a new subsidiary formed to focus on solar energy systems, Southern Energy Management PowerSecure,Our main products are street lamps and other fluorescentlights2011, such as solar street lighting, solar garden lighting and solar lawn lighting. LLC. The transaction was completed on June 5, 2012, and the acquisition ownership and deal structure is similar to the structure the Company has successfully utilized in previous acquisitions.
Specifically, PowerSecure’s 90% controlling interest in Southern Energy Management PowerSecure was acquired for approximately $4 million including cash and assumed liabilities, and the Southern Energy Management team owns the remaining 10% non-controlling interest. As a result, PowerSecure will include the financial results of Southern Energy Management PowerSecure on a consolidated basis in its financial statements, with adjustments to reduce PowerSecure’s net income for the non-controlling interest. Additionally, PowerSecure has the option to increase its ownership of Southern Energy Management PowerSecure to 100% commencing in June, 2014, by issuing PowerSecure common shares or cash in exchange for the remaining 10% interest.
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