Philadelphia, United States [RenewableEnergyWorld.com] Alteris Renewables Inc. has acquired all of the assets of Renewable Power Systems LLC (RPS). This acquisition furthers Alteris’ mission to bring quality, affordable renewable energy systems to homeowners, businesses and institutions throughout the Northeastern states, the company said this week at PV America in Philadelphia.
“As a larger organization, we can provide better designs, more cost-effective solutions and a wide array of financial options which together result in superior customer offerings,” said Ron French, president of Alteris Renewables’ solar business unit. “We’re proud to be partnering with RPS. In addition to being one of the largest solar installers in New York, RPS has an outstanding reputation for providing their customers with high quality turnkey solar energy solutions and world-class customer service.”
Alteris told RenewableEnergyWorld.com that the solar industry, like others, is under pressure in these trying economic times.
“That pressure will strengthen some companies and force out weaker companies. Overall, the industry is growing regardless of the economic downturn. Merger and acquisition activity is as much a function of the phase that our industry is in as it is a function of macro economic factors,” the company said in a statment.
The company was not at liberty to disclose financial details of the transaction.