Alteris Renewables Adds On

Alteris Renewables, an integrator of renewable energy systems in the Northeastern U.S., has acquired substantially all the assets of Renewable Power Systems LLC, a provider of solar installation services in Upstate New York. No financial terms were disclosed. Alteris is a portfolio company of Riverside Partners.

PRESS RELEASE
Alteris(TM) Renewables, Inc., the largest integrator of renewable energy systems in the Northeast, announced today that it has acquired substantially all of the assets of Renewable Power Systems, LLC (RPS), a leading solar installer in New York. This acquisition furthers Alteris’ mission to bring quality, affordable renewable energy systems to homeowners, businesses and institutions throughout the Northeastern states.

“As a larger organization, we can provide better designs, more cost-effective solutions and a wide array of financial options which together result in superior customer offerings,” said Ron French, president of Alteris Renewables’ solar business unit. French continued, “We’re proud to be partnering with RPS. In addition to being one of the largest solar installers in New York, RPS has an outstanding reputation for providing their customers with high quality turnkey solar energy solutions and world-class customer service.”

“This is a great day for the homeowners and businesses in New York,” said Kevin Rose, co-founder of Renewable Power Systems. “Alteris has proven that they’re able to form the strategic partnerships with other leading companies that are changing this industry. As a result of this acquisition, we’re part of a cutting-edge growth company with greater operational and financial capacity. We look forward to serving our customers with even more competitive pricing, innovative products and superior customer service.”

“Governor David A. Paterson’s comprehensive energy policy has created one of the most attractive environments for the deployment of renewable energy in the country, which will reduce our dependence on fossil fuels, fight global climate change, and meet our future energy requirements through clean energy technologies,” said Francis J. Murray Jr., president and CEO of NYSERDA. “Our incentive programs for renewable energy are attracting leading companies such as Alteris to invest in our clean energy economy, which creates good paying jobs right here in New York State.”

With the acquisition of RPS, Alteris is further extending its lead as the company with the most solar installations and largest presence in the Northeast. Alteris has completed over 2,250 installations including hundreds of commercial installations making it the most experienced solar integrator in the region. Alteris currently has thirteen offices in six states that offer a full range of innovative services making clean solar, thermal and wind energy more attainable and affordable than ever before.

There will be a press event with NYSERDA to celebrate Alteris Renewables’ expansion in the State of New York early next week. Details will be forthcoming.

About Alteris Renewables, Inc.

Alteris Renewables is a full service renewable energy systems integrator and project developer. With more than 2250 completed installations throughout the Northeast over the past 30 years, Alteris provides PV (photovoltaic, solar electric), solar thermal, and wind energy solutions for commercial, residential, education, municipal and institutional clients. The company has industry-leading expertise in engineering, design, project management, performance analysis, project financing and renewable energy credit programs. For more information, please visit http://www.alterisinc.com.

Alteris is a portfolio company of Riverside Partners, a Boston-based technology and healthcare private equity firm. For more information, please visit http://www.riversidepartners.com.

About Renewable Power Systems, LLC

Renewable Power Systems was founded in 2004 to serve Upstate New York and has provided high quality solar electric systems for hundreds of satisfied homeowners, schools and businesses.