By Editors of Power Engineering
In another post-tariff solar industry shakeup, PPL Corporation announced that it has acquired Safari Energy LLC, a provider of solar energy solutions for real estate investment trusts and large real estate owners and operators in the United States. A purchase price was not revealed.
“The Safari Energy acquisition offers PPL an attractive, low-risk opportunity to help advance a cleaner energy future; to support the growth of distributed energy resources, including energy storage; and to gain additional experience with technologies that will play a bigger role in shaping the future energy grid,” said William H. Spence, chairman, president and chief executive officer of PPL Corporation.
“However, even as it provides these benefits, the acquisition will not alter PPL’s core business strategy,” Spence said. “PPL’s primary investment focus and engine for growth remains our high-performing, award-winning regulated utilities.”
Safari Energy develops structured turnkey solutions to its clients, managing projects through all phases of development, from inception to financing, design, engineering, permitting, construction, interconnection and asset management. Headquartered in New York City, Safari Energy has completed over 200 solar projects in 19 states, with over 80 projects underway.
“I’m very proud of Safari Energy’s track record of using solar power to unlock incremental revenue for our customers,” said Matt Rudey, chief executive officer, Safari Energy. “PPL’s acquisition of Safari will support our continued growth and allow us to expand our offerings to better serve our customers.”
As part of the acquisition, PPL hired industry veteran Vijay P. Singh to lead PPL’s involvement in the evolving distributed energy resource space and to complement the Safari Energy team. Singh previously served as executive director of Renewable Energy Development and Energy Storage for NextEra Energy Resources.