Payom Solar has taken over the remaining 47.4% of US project developer Amsolar Holdings. The German company acquired a majority share of the San Diego company in March.
Amsolar has been developing megawatts of PV projects for schools in Southern California, and also has a growing commercial and utility-scale business. It recently signed a deal with Brightfield Energy to jointly develop 15MW of projects in California and western Nevada. Amsolar will also take over 75MW of projects from Brightfield, develop them to the point of construction readiness and then place those projects with investors.
Amsolar has also partnered with Stronghold Engineering on a 9MW project in California, with a further 100MW pipeline under development in southern Nevada.
“We deliberately did not take over Amsolar in one step,” said Daniel Grosch, chairman of Payom Solar. “Due to the current positive business development in the U.S. and especially in California, the complete takeover is now the logical consequence.”