Enfinity Continues U.S. Expansion, Acquires ClearPeak

Oct 11, 2010, 10:00 ET from Enfinity

ATLANTA, Oct. 11 /PRNewswire/ -- Enfinity America Corporation, a leading international solar power project developer, announced today that the company has acquired U.S. solar developer ClearPeak. The move strengthens Enfinity's coast-to-coast presence in the solar space while leveraging the 80 years of combined energy and renewable experience within ClearPeak.

ClearPeak was established in 2009 and provides outsourcing solutions to the clean energy industry. Areas of focus include business strategy, business development, project development, project finance, and policy support.

Financial details of the acquisition were not disclosed. However, Enfinity will retain all ClearPeak executives and adopt ClearPeak's pipeline of renewable energy customers and projects.

"This acquisition demonstrates Enfinity's continued commitment to the North American market," said Rafael Dobrzynski, CEO at Enfinity America Corporation. "Adding the professionals from ClearPeak will complement an already successful development, financial and project management team. ClearPeak's principals Bob Hopper and Brian Lynch have a network of deep relationships within our industry. That network, combined with Enfinity's access to capital, will accelerate the installation of a series of commercial- and utility-scale solar systems."

ClearPeak President and Co-founder Bob Hopper will assume a Senior Vice President role at Enfinity. He possesses 20 years of experience in the energy industry and has an extensive background in project development and energy business planning.

"Becoming part of a market leader means we can optimize our dual strategy of pursuing key alliances and self-originated, utility-scale projects," said Hopper. "We believe 2011 is going to be a strong year for the solar industry and a tremendous growth year for Enfinity."

Brian Lynch, the other ClearPeak co-founder, will move into the role of Senior Vice President for Development, United States, at Enfinity. He has been working in the energy industry for more than 20 years, focusing on the development of renewable energy and energy efficiency projects.

"This is an exciting and positive move for both organizations," said Lynch. "Working with Enfinity's substantial resources will allow us to execute on our pipeline and seek out qualified projects that put our balance sheet to work. Enfinity has a peerless financing pedigree, and we anticipate being able to quickly fund numerous projects across the United States."

According to a June 2010 U.S. Solar Energy Market World Data report, the United States still has the greatest potential to increase its position in the solar market. The report sees PV installations rising to 7,600 MW in 2014, up from the 900 MW of PV installations projected for this year.

About Enfinity

Founded in 2005, Enfinity has rapidly grown into one of the world's largest and most experienced solar photovoltaic (PV) development companies, with operations in North America, Europe and Asia-Pacific. To finance these projects, Enfinity works with individual project companies funded by equity investors and banks. The company also owns its own portfolio of renewable energy installations. Enfinity has been selected to build some of the largest renewable energy projects across the globe, with 200 MW installed and operational worldwide. Further information is available at www.enfinitycorp.com.

SOURCE Enfinity