Solar developer/financier Helio Micro Utility (Helio mU) has acquired Simple Energies, a renewable energy project development firm with a 50MW global pipeline. As part of the deal, Simple Energies CEO and industry veteran Ty Jagerson joins Helio mU’s executive management team.
Jagerson, who was a founding executive of SolFocus and cofounder of the Xerox PARC Cleantech Initiative, becomes president of Helio mU; he also steps in to lead commercial- and utility-scale sales for affiliated company HelioPower, becoming executive VP of commercial sales.
Helio mU spun out of HelioPower in 2007. The company works with established financial partners to develop, own, and operate large commercial- and utility-scale solar assets in the U.S. and other countries. The San Francisco-based firm worked with Citi Community Capital in 2008 to establish the Helio Green Energy Community Investment Fund, a $100 million solar financing program.
Sister company HelioPower, founded in 2001, has installed more than 1000 solar power systems worldwide.
Terms of the acquisition agreement were not disclosed.
“By acquiring Simple Energies, Helio Micro Utility expands its pipeline into adjacent solar markets and other renewable energy domains and increases our solar financing strength,” said CEO Mo Rousso. “Bringing Ty on board in particular adds a seasoned solar industry professional with proven U.S. and international project development skills; this adds the financial acumen we need for this next stage of our growth.”
Jagerson said that “the track record that Mo and the team have built for performance and profitable growth makes them an ideal match for the renewable energy project portfolio and innovative solar financing products we have developed at Simple Energies.”