News
PRESS RELEASE. Amara NZero signs the acquisition of the American company SUNRGY, specializing in solar energy
SUNRGY will be the platform for its expansion in the solar sector in the United States.
The American renewable energy market is strategic for the company, where it aims to establish itself as a leader.
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The Spanish multinational Amara NZero, whose main shareholder is the investment fund Cinven, has finalized the acquisition of the American company SUNRGY. This acquisition is part of the business plan outlined by the company, with a significant focus on expansion in the American market.
SUNRGY is one of the major firms specializing in solar energy in the state of Texas. It is headquartered in the Greater Houston area and has logistical centers in Houston and Dallas, serving customers in other states as well. In 2022, SUNRGY achieved a revenue of over $60 million and an EBITDA of $4.5 million.
Amara NZero will operate in the United States under the SUNRGY brand in the solar sector, with Neel Desai, co-founder and current CEO - remaining in the position - leading its North American expansion. In other business activities in the U.S. market, the company will continue under the brand Amara NZero USA.
"For us, the United States is a strategic market, and we believe that the experience and proven success of a company like SUNRGY provide the best platform to solidify our solar expansion; we have strong confidence in the capabilities of the entire team and Neel Desai," states Gonzalo Errejón, CEO of the Amara NZero Group. He adds, "The goal is to achieve a revenue of $500 million in the United States before 2027, and to achieve this, we will expand the business with a substantial investment, including new openings across the country equipped with powerful teams of professionals, digital tools, and inventory. We aspire to become a leader in solar energy in North America."
Currently, Amara NZero holds leading positions in solar energy in Spain, Portugal, Italy, Brazil, and Mexico, with a presence in 11 countries following the recent opening of branches in Colombia, Bulgaria, Romania, and Greece.
Neel Desai highlights, "We are delighted to be part of the Amara NZero Group. We share their values and objectives. We are united by a strong commitment to the Energy Transition and in contributing to supporting our customers in all their solar projects. I am confident that their support and experience will quickly drive us to expand renewable energies across the United States."