Oneworld Energy Inc., a provider of design, management and servicing of wind and solar power installations, has acquired over 95% of the common shares of COU Capital Inc., a Canada-based solar developer, from its shareholders in exchange for shares of Oneworld Energy Inc.
This is the first tranche, with the balance of the COU shares expected to be acquired by the middle of this month.
COU provides a variety of services to the solar sector in Europe and North America, encompassing the entire value chain, says Oneworld Energy. COU has established relationships with large solar panel manufacturers for procurement and contributes a pipeline of over 83 MW of solar projects in Germany, Italy and Bulgaria, which can be built for Oneworld's portfolio or for third-party clients under contract.
Agreements are in place with the Solar Income Fund Limited Partnership to build solar parks in Germany, and COU has mandates from other capital funds created to own solar parks in Europe and North America. In addition, COU brokers the sale/acquisition of solar parks to third parties. In Ontario, COU has started acquiring rooftop and property for ground-mounted solar projects in order to participate in the feed-in-tariff program recently introduced by the Ontario government.
SOURCE: Oneworld Energy Inc.