Nelnet buys sun corporate with Lincoln ties | Native Industry Information

The monetary products and services corporate mentioned Tuesday that it bought a controlling pastime in GRNE Sun, an organization that designs and installs residential, industrial and utility-scale sun methods in Illinois, Indiana, Iowa, Nebraska, Missouri and shortly in Colorado.

Phrases of the deal weren’t disclosed.

Nelnet mentioned corporate founders Jess Baker and Eric Peterman retained a minority stake within the corporate and can proceed to control day by day operations.

“We’re excited to spouse with Jess, Eric and the GRNE group to boost up their enlargement plans and our diversification into sun construction,” mentioned Scott Gubbels, Nelnet govt director of tax and renewable power. “The GRNE group has earned a powerful popularity within the sun trade for his or her tradition, values and high quality execution and development control.”

GRNE Sun is founded in Palatine, Illinois, however has a Lincoln place of job. As well as, Baker, co-founder and president, lives in Lincoln.

The acquisition continues Nelnet’s growth into the solar power trade. The corporate first were given into solar power in 2018 when it dedicated to investment as much as $142 million in sun tasks that have been additionally receiving tax incentives, and in 2020 it shaped a brand new department referred to as Nelnet Renewable Power to provide control and beef up products and services to solar power construction.