Germany-based Payom Solar AG has signed an agreement to take over the remaining 47.4% of project developer AMSOLAR Holdings LLC. Payom acquired a majority stake in AMSOLAR in March.
According to the companies, this latest acquisition puts Payom Solar in an ideal position to take advantage of the promising U.S. solar market. The company is partnering with Brightfield Energy LLC to jointly develop projects in California and western Nevada totaling 15 MW.
In addition, AMSOLAR plans to take over other projects with a volume of up to 75 MW from Brightfield, develop them further through to the construction-readiness phase and then place the solar power plants with investors.