October 11 (Solar) – Constellation, a subsidiary of US energy provider Exelon Corporation (NYSE:EXC), has acquired Southern California-based solar systems developer PFMG Solar LLC, Constellation said on Wednesday.
The transaction is part of Constellation’s strategy to expand its retail solar business to a broader customer base and to grow its distributed energy in California. Prior to the transaction, PFMG Solar was a subsidiary of Spear Point Energy LLC. The acquired business develops solar power systems for public-sector customers.
"This purchase is a natural expansion of our existing retail solar business," said Jim McHugh, CEO of Constellation. "It enables us to grow our solar footprint in California, the most active U.S. solar market, and extend our Constellation Offsite Renewables (CORe), energy efficiency and other retail energy offerings to new markets," he added.
PFMG Solar and Constellation have worked together in recent years to develop and install 42 MW of solar generation. The joint solar projects were for school districts and government agencies across the West Coast, specifically in California and Arizona, the buyer said.
Constellation currently has more than 360 MW of operating or under-construction solar power plants across the continental US.