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Apricus Generation acquires a majority stake in Nexus Renewables

Apricus Generation, a new holding company dedicated to the development of distributed solar and battery storage projects, announces the acquisition of a majority stake in Nexus Renewables, a Toronto-based developer.

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The project includes Apricus Generation’s acquisition of Nexus Renewables, providing Nexus with capital support and expertise to advance its portfolio of over 500 MW of solar and energy storage projects. This acquisition is the first since the launch of Apricus earlier this year. Gautam Chandra, Executive Chairman and co-founder of Apricus, expresses his enthusiasm for this strategic partnership, pointing out that Nexus has more project opportunities than available capital, and that this association will enable them to realize their project pipeline.

Collaboration and shared vision

Keith Sandor, founder and CEO of Nexus Renewables, is delighted with the collaboration with Apricus Generation, highlighting the complementary nature of the two companies. Nexus, with a proven development model and significant portfolio, can accelerate the capture of market opportunities with Apricus’ support. Ravi Thuraisingham, CEO and co-founder of Apricus, emphasizes the importance of this acquisition in building a leading developer-focused IPP (Independent Power Producer) platform aimed at bringingrenewable energy to consumers.

Future prospects

Apricus Generation, with this acquisition, reinforces its mission to enable consumers and businesses to participate in the energy transition by providing developers with the management expertise and capital needed to advance their projects to generation. Nexus Renewables, with over 500 MW of projects underway, now benefits from the strategic and financial support of Apricus to achieve its objectives.
Apricus Generation’s acquisition of Nexus Renewables marks an important step in the development of renewable energies in North America. This strategic collaboration will accelerate the energy transition, providing the resources needed to advance solar and energy storage projects, while delivering economic and environmental benefits to communities and energy customers.

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