Le Lézard
Classified in: Oil industry, Environment, Science and technology, Business
Subjects: TNM, BFA

Hover Energy acquires premier solar company, Shine Development Partners

Combined entity offers customers world class execution and operations capabilities in the advanced Microgrid space

DALLAS, Dec. 7, 2022 /PRNewswire/ -- In an effort to further its capabilities ahead of scale production and global rollout of its patented Wind-Powered Microgridtm, Hover has acquired Shine Development Partners, a leader in the solar energy solutions industry. Shine brings decades of experience financing, installing and operating renewable energy projects utilizing solar and battery storage.  Hover's acquisition of Shine not only brings a world class solar capability in-house, but gives commercial and industrial customers around the world the technology, experience and operations support they need to increase energy security, lower power costs, and achieve net zero. Ultimately, Hover's mission is to help clients achieve "real zero", which goes well beyond net zero.

"As Hover has grown, our challenges have changed dramatically.  This acquisition positions us to not only manage that growth better, but also to thrive in our development of Microgrids worldwide.  The assets in this transaction currently under development, and the personnel of Shine that have now become Hover, bring depth of value and expertise that truly set Hover at the "head of the class" in Microgrid design, development and deployment," offered Hover CEO Chris Griffin.

The Hover Wind-Powered Microgridtm features a combination of wind and solar energy generation as well as storage if needed.   The centerpiece of the microgrid is Hover's patented wind turbine.  Installed as an array on the windward edge of a building's roof, the ground-breaking aerodynamic design uses the building as a sail and delivers commercial scale power, usually with significantly higher production than rooftop solar alone.  A direct drive generator reduces friction and allows for low cut in speeds.  The solar photovoltaic array installed in the center of the roof acts as a complement to the turbine array, generating power during daylight hours.  Hover has designed the entire system with an open architecture to accept any and all production from any source.  The energy captured by all sources is directed to Hover's Integrated Energy Management System where the energy is combined, cleaned, and converted into 3 phase AC power, directly linked to the building management system.   Excess power, such as power generated at night, can be stored in batteries.  Testing has shown a Hover Wind-Powered Microgridtm can offset 100% of a building's power consumption in most cases. 

"Hover brings a truly unique solution to the global energy marketplace.  Shine's extensive experience with the integration and structuring of renewable energy projects is a natural fit for Hover as the company migrates from R&D product development to commercialization at scale", said Shine's CEO, now Hover's COO, Rajiv Pandya.

Shine has developed and executed over 100 solar projects across 10 states and internationally since 2013, including 50 MW of projects currently under contract for future deployment. 

Headquartered in Dallas, TX, Hover Energy designs, develops and deploys Wind-Powered Microgridstm, utilizing highly effective global partnerships to help clients to efficiently harness the power of nature to generate power where it's consumed.  Achieving net zero is just the beginning.  www.hoverenergy.com

SHINE focuses on the development, financing, and asset management of medium to large scale commercial solar, energy storage, distributed wind and clean technology projects.  With offices in Houston and Dallas, TX, Shine was established with the goal of helping customers effectively deploy renewable energy to help lower energy costs and reduce their carbon footprint.   www.shine.partners

SOURCE Hover Energy LLC

These press releases may also interest you

at 21:35
FPT Software, Vietnam's leading technology and IT services provider recently entered a strategic partnership with business planning and decision-making platform Anaplan Asia Pacific. As Anaplan Asia Pacific's regional integration partner, FPT...

at 21:13
Nippon Dynawave Packaging, manufacturer of the highest quality paperboard for cartons and cups, has chosen Procemex to provide a 3D Crystal Web Inspection solution for their L3 product line.     The Procemex 3D web inspection solution will ensure...

at 21:08
WEMIX PLAY, the number 1 blockchain gaming platform by Wemade, is hosting a WEMIX airdrop event until February 28th to celebrate the global launch of its MMORPG, MIR M: Vanguard and Vagabond....

at 21:05
Transsion Holdings (Transsion) has effectively addressed the ever-increasing complexity of its product, business model, supply network, and dynamic demand thanks to its successful implementation of Blue Yonder's supply planning solution, part of...

at 21:05
Longboard Pharmaceuticals, Inc. , a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases, today announced the pricing of its previously announced underwritten public offering of...

at 21:00
According to Technavio, the global 3D printer market size is estimated to grow by USD 25,095.58 million from 2022 to 2027. The market is estimated to grow at a CAGR of 23.49% during the forecast period. North America held the largest share of the...

News published on 7 december 2022 at 09:05 and distributed by: