Impact Power Solutions Joins the New Energy Equity Brand
October 25, 2022 – In April of 2022, Impact Power Solutions was acquired by New Energy Equity as a part of the sale of New Energy Equity to ALLETE (NYSE: ALE). Beginning November 2022, Impact Power Solutions will be operating under the New Energy Equity brand moving forward. New Energy Equity, established in Annapolis, Maryland in 2013, is one of the country’s leading distributed solar developers, having successfully completed more than 250 projects across the nation totaling more than 330 megawatts.
Impact Power Solutions (IPS) was founded in 1991 and has been recognized as a Top Solar Contractor in the country every year since the list’s inception. For over 30 years, the company has thrived as one of the pioneers in the Minnesota community solar market. IPS has since expanded its reach, providing access to affordable, clean energy for communities in states throughout the United States. New Energy Equity has been a long-time partner of Impact Power Solutions, and the two teams have worked together on more than 140 projects over 8 years.
“Our two companies have been working in tandem to achieve similar goals, uphold a dynamic and inclusive culture, and have proven successful in the solar markets we enter,” says IPS president Jamie Borell. “Together, we have decided to integrate our teams, operating under the New Energy Equity brand.”
“Impact Power Solutions has been incredibly successful over the past three decades providing solar access to Midwestern communities, and we are looking forward to expanding and amplifying that success, making good use of the resources and capabilities that will come with joining the New Energy Equity brand under the ALLETE family of companies,” says President and CEO of New Energy Equity, Matt Hankey.
Impact Power Solutions encourages their current followers, partners, and clients to continue their support by following their team under New Energy Equity’s social media platforms. The IPS website will undergo a transition next month and be available moving forward at www.newenergyequity.com.
About New Energy Equity
Founded in 2013, New Energy Equity develops and finances solar power generation assets, providing clean electricity to commercial, industrial, municipal, and utility customers under long-term contracts. New Energy Equity, a wholly owned subsidiary of ALLETE (NYSE: ALE), has successfully developed over 330MW of solar projects and closed more than $600M in clean energy investments. The company was ranked as the 7th Top Solar Developer and the 8th Top Solar Contractor on Solar Power World’s “2021 Top Solar Contractors” list and voted one of the fastest-growing energy companies in D.C., Maryland, and Virginia by Inc. Magazine. To learn more, visit http://www.newenergyequity.com.