Apricus Generation Acquires Solar and Storage Developer Nexus Renewables

Nexus is First Addition to Join the Apricus Generation Platform: Provides the Company with Management Expertise and Capital to Advance their 500MW Project Pipeline

MIAMI, May 29, 2024 /PRNewswire/ -- Apricus Generation, a new holding company designed to build a national distributed solar and battery development platform and Independent Power Producer (IPP), today announced the acquisition of a controlling interest in Nexus Renewables, Inc., the Toronto-based developer of Community Solar and BESS renewable energy projects and Independent Power Producer (IPP). By joining the Apricus Platform, Nexus is gaining the additional management expertise, support, and capital to effectively advance its 500MW project pipeline to generation. This strategic acquisition is Apricus' first since the company announced its launch earlier this year.

Apricus Generation's platform enables consumers and businesses to participate in the energy transition by providing developers with management expertise and capital to advance their project pipeline to generation. Nexus Renewables, led by its founder CEO, Keith Sandor, has built a leading development and IPP platform that, when combined with Apricus' capital and management expertise, will be one of the leading IPP platforms in this space.

"We are thrilled to have Nexus Renewables join Apricus as the first developer in our platform. Keith and the entire Nexus team have built a significant pipeline and are one of the best community solar and storage developers in North America. As with many independent developers, Nexus has more project opportunities than access to capital. By joining Apricus, they now have access to capital and expertise that will allow them to execute on their pipeline," said Gautam Chandra, Executive Chairman and Co-Founder of Apricus Generation.

"This is a perfect fit for us. We are excited to join forces with Apricus Generation and build a leading IPP in Community Solar and BESS segments. Nexus Renewables has proven development and IPP model with a significant pipeline and a team of professionals that can rapidly and efficiently expand to capture the market opportunity," said Keith Sandor, founder and CEO of Nexus Renewables.

"I've worked with Keith in the energy industry for nearly two decades and have been impressed with how Nexus Renewables has rapidly grown into a leader in the sector," said Ravi Thuraisingham, Chief Executive Officer, and Co-Founder of Apricus Generation. "I couldn't be happier that Nexus is joining the Apricus platform as our first acquisition. With this strategic partnership, we are committed to building the leading IPP platform built by the developers for the developers to bring renewable energy to the consumers."

About Apricus Generation

Apricus Generation, Inc. is a new holding company designed to build a national distributed solar and battery development platform and Independent Power Producer (IPP). Apricus Generation's platform enables consumers and businesses to participate in the energy transition by providing developers with management expertise and capital to advance their project pipeline to generation. The company brings together the founders' decades-long proven track record in clean energy development and investment.

For more information, visit: https://www.apricus.energy/

About Nexus Renewables

Nexus Renewables is a full-service renewable energy developer and independent power producer with a current portfolio of over 500MW of North American solar and energy storage projects under various stages of construction and development. Our projects provide clean energy and widespread economic and environmental benefits for landowners, communities, and energy customers.

For more information, visit www.nexusrenewables.ca.

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SOURCE Apricus Generation