Mitsui & Co. Inc., a wholly owned subsidiary of Mitsui & Co. Ltd., has agreed to acquire Kingston, N.Y.-based SunWize Technologies LLC, a designer and manufacturer of solar power systems.
According to the companies, the acquisition is expected to close once the regulatory review is complete. Once the acquisition is finalized, Mitsui says it will retain the current management and employees of SunWize.
Mitsui plans to grow the business to $400 million within three to five years by aggressively expanding its business in solar power, in addition to other renewable energy technologies, such as wind, biomass and fuel cells, the company adds.
