Entropy Investment Management, which is owned by York Capital Management, has acquired a majority stake in Argand Energy Solutions. No financial terms were disclosed. A solar developer, engineering, procurement and construction firm, Argand will now be known as Entropy Solar Integrators.
CHARLOTTE, N.C., July 10, 2014 /PRNewswire-iReach/ — Argand Energy Solutions (the “Company”), a leading solar developer, engineering, procurement, and construction company (EPC), today announced that it has completed the sale of a majority interest in the Company to an affiliate of Entropy Investment Management (“Entropy”).
The Company will now be known as Entropy Solar Integrators and will provide EPC and development services to an expanding portfolio of solar projects currently under development by Entropy and a select group of high value customers.
“The solar energy industry is growing rapidly and the importance of economies of scale and efficient sources of project finance are critical to growing a large solar energy business” commented Erik Lensch, CEO and Founder of Argand Energy Solutions. “We are getting closer every day to a world in which solar energy is the most affordable source of electricity and this acquisition will allow us to compete on a national and global scale.”
“We are excited that such a strong team has chosen to join our quest to build one of the best renewable energy companies in the world. Bringing EPC capabilities under our tent will allow us to more efficiently execute our business plan, and we look forward to working with the new members of our team to take advantage of the numerous opportunities being created in this fast moving industry,” noted Lewis Reynolds, Managing Partner of Entropy.
Entropy Investment Management is a specialty energy investment and management company that engages in asset finance, private equity investments, and arbitrage investments primarily in renewable and alternative energy in North and South America and the Caribbean. Entropy is majority owned by York Capital Management.
About Argand Energy Solutions
Argand Energy Solutions and its affiliates have been providing comprehensive solar energy products and services since 2006. The company has served a variety of commercial and institutional clientele including a number of colleges, universities, state and local governments. Services include but are not limited to, solar project development and third party ownership, system design, inspection, installation, and maintenance and monitoring. For more information about Argand Energy Solutions and Entropy Solar Integrators, visit www.entropysolar.com.