AUSTIN, Texas–(BUSINESS WIRE)–MERIT SI, LLC, (“MERIT SI”) announced today that Turner Renewable Energy, LLC (“TRE”) and related investors have invested in a significant minority stake in MERIT SI. MERIT SI is a solar power plant development company delivering customized solutions for industrial operators through innovative applications of solar and energy storage technology.
Led by energy industry veterans Tom Kuster and Richard Gruber, the MERIT SI team features expertise in solar photovoltaic power systems, energy storage and power plant optimization controls to bring the next generation of distributed generation solutions to leading corporations and institutions.
Says MERIT SI CEO Kuster, “We greatly value our partnership with the Turner Renewable Energy leadership team, which in addition to bringing capital to accelerate growth, adds critical thinking, project finance expertise, and access to a network of strategic relationships around the globe.”
TRE made a similar investment in 2007 into DT Solar, where Kuster was CEO. DT Solar was renamed Turner Renewable Energy and the portfolio of utility and industrial scale solar power plant projects developed at TRE were later acquired by leading U.S. solar manufacturer, First Solar.
“We are excited to again be working with Tom and the MERIT SI team. Their approach of leveraging over a decade of utility-scale renewable energy experience not only brings direct cost savings to multi-state industrial clients, but also provides a terrific vehicle to make meaningful impact in carbon reduction metrics important to many leading industrial organizations,” stated Ted Turner, TRE principal.
MERIT SI has sales offices in Austin and Houston, Texas, and an engineering office in Central New Jersey.
About Turner Renewable Energy, LLC
Turner Renewable Energy is wholly owned by Ted Turner. Turner Enterprises Inc., a private company, manages the business interests, land holdings and investments of Ted Turner, including the oversight of 2 million acres in 12 states and in Argentina, and more than 51,000 bison.
About MERIT SI, LLC
MERIT SI, LLC develops and manages Solar PV and Energy Storage Programs for industrial clients, based on standardized solar photovoltaic solutions, optimized for specific site deployment. It is staffed by a leading team of application engineers, project managers and commercial transaction professionals, many whom developed key innovations and U.S. patents to drive down the cost and increase the performance of solar PV power systems. Our project development services and proprietary advanced power plant controls and energy management systems drive ease of integration and hold project risks to a minimum.
If you would like more information, please contact MERIT SI at 908-224-0210 or email [email protected].