Sterling Power Opportunities, a subsidiary of Galway Sustainable Capital, has acquired a majority interest in Charlotte, N.C.-based Forsite Renewables.
The transaction will fund Forsite’s expected expansion and marks the 34th strategic acquisition for Galway. Galway will retain the existing management team to lead ongoing development and company operations.
“This is a transformative transaction and incredible milestone for our team at Forsite,” says Kevin Day, Forsite Renewables’ president. “It will enable us to significantly expand our project portfolio and serve the growing demand for sustainable energy.”
KeyBanc served as Forsite’s strategic advisor in the transaction.