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Alteris Renewables Buys ISI Solar

Alteris Renewables, an integrator of renewable energy systems in the Northeastern U.S., has acquired ISI Solar, a designer and installer of solar electric systems in New York and New Jersey. No financial terms were disclosed. Alteris is a portfolio company of Riverside Partners.

PRESS RELEASE
Alteris Renewables, the largest design-build renewable energy company in the Northeast, has acquired ISI Solar of New City, NY. ISI Solar designs and installs solar electric systems for residential and commercial customers in New York and New Jersey. The acquisition of ISI Solar is the second by Alteris in a year, furthering its mission to bring quality, affordable renewable energy systems to homeowners, businesses and schools in the Northeast United States. A press conference describing Alteris Renewables’ expansion will be held on May 14, 2010 at 1pm at ISI’s New City, NY headquarters located at 22 Third Street.

“The solar markets in both New York and New Jersey are growing, and the need to provide quality-engineered solar energy solutions is more important than ever,” said Ron French, President of the Solar Business for Alteris Renewables. “By combining with ISI Solar and by expanding further into New York and New Jersey, Alteris will be able to make its affordable and reliable solar energy systems available to more customers.”

“Joining Alteris will help ISI offer our customers affordable renewable energy solutions. Homeowners and businesses will have access to a broader array of financing options and to greater technical resources. We are excited to be partnering with Alteris Renewables,” added James Albert, President of ISI Solar.

The acquisition of ISI Solar is another step in the rapid expansion of Alteris into the New York and New Jersey markets. ISI will strengthen Alteris’s growing operations in Parsippany, New Jersey. Just last summer, Alteris Renewables acquired Renewable Power Systems of Albany, NY. Alteris currently has offices throughout the Northeastern states and offers a full range of innovative services making clean energy more attainable and affordable than ever before.

With over 30 years experience, 3000 installations, and 15MW of operational renewable power, Alteris continues to be most experienced solar integrator in the region. They recently were named as one of five solar installers to utilize $10M in American Recovery and Reinvestment Act (ARRA) stimulus funding for New York solar initiatives, and are also an eligible partner for the New York Power Authority (NYPA) 100 MW State Solar Initiative.

About Alteris Renewables, Inc.

Alteris Renewables is the largest design-build renewable energy company in the Northeast, with more than 15 MW installed for over 3,000 customers over the past thirty years and more than a dozen offices across six states. Ranked as one of 2009’s top ten fastest growing energy companies in the Inc. 500, Alteris provides turn-key solar electric, solar thermal, and wind energy solutions for commercial, residential, education, government and institutional clients. The company has industry-leading expertise in engineering, design, project management, performance analysis, project financing and renewable energy credit programs.

About ISI Solar

ISI Solar was founded by James Albert in 1999. The company provides clean, renewable energy solutions for residential and commercial customers in Rockland, Westchester, Putnam and Orange counties of New York as well in Bergen, Passaic and Essex counties of New Jersey.