Solargen Energy acquired by company formed in March

[XemaSab]

A new investment group has purchased Solargen Energy's assets, while the corporation from this point will go by the title Nevo Energy, according to a financial statement filed Friday.

A company called PV2 Energy, which formed March 18, acquired the solar farm company's assets in a deal made definitive April 19, according to the document listed under Solargen Energy's financial statements on the over-the-counter markets, along with state documents showing when PV2 became a limited liability corporation.

Solargen Energy's plans had been in the works for about four years to build a 399-megawatt solar farm on nearly 5,000 acres in southern San Benito County and estimated to cost $1.2 billion. Supervisors last year approved the project and its environmental impact report and, in their support, largely cited potential economic benefits.

The project, which could receive 30 percent of capital upstart funds from the federal government, has faced opposition over environmental concerns from some landowners in the Panoche Valley area and also from broader groups taking part in an active lawsuit trying to halt it.

http://www.freelancenews.com/news/275066-solargen-energy-acquired-by-company-formed-in-march