11 Oct Constellation acquires California-based retail solar business
Constellation grows retail solar business with PFMG Solar acquisition. Exelon’s retail energy supplier unit, Constellation, has acquired PFMG Solar LLC, a subsidiary of Spear Point Energy. PFMG Solar develops solar power systems for school districts, government agencies and other public-sector customers. “This purchase is a natural expansion of our existing retail solar business,” said Constellation CEO Jim McHugh. “It enables us to grow our solar footprint in California, the most active U.S. solar market, and extend our Constellation Offsite Renewables energy efficiency and other retail energy offerings to new markets.” The acquisition comes after a track record in which Constellation has collaborated with PFMG Solar to develop and install 42 of more than 100 megawatts of solar generation it has completed over the last decade. “PFMG Solar and Constellation have enjoyed a productive and collaborative relationship over the past several years,” said Jorge Vargas, executive vice president for Spear Point Energy. “We look forward to Constellation’s continued success as a leader in the solar industry nationwide.”
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