LINCOLN,
Neb., April 12, 2024 /PRNewswire/ -- Nelnet
Renewable Energy today announced a strategic shift in its solar
engineering, procurement, and construction (EPC) operations to
focus exclusively on the commercial solar market. This decision
underscores the company's commitment to leveraging its technical
and project management strengths in a market that has shown robust
growth potential and aligns with its long-term vision for
sustainability, operational excellence, profitability, and energy
innovation.
"Nelnet is committed to being an industry leading commercial
solar EPC contractor and consultant with resources, knowledge, and
people to deliver high quality projects and solutions for our
customers," said Jim Kruger, Nelnet
chief financial officer.
In the face of challenging regulatory and economic conditions
within the residential solar market and after careful deliberation,
Nelnet Renewable Energy has made the difficult decision to
discontinue its residential solar operations. Nelnet Renewable
Energy will honor its existing warranty and contractual obligations
for residential projects installed to date and will proactively
communicate with customers and other relevant stakeholders about
available service and support. Nelnet Renewable Energy will strive
to make the transition as seamless as possible.
With its solar financing and Inflation Reduction Act expertise,
along with its investments in excellent people, quality
workmanship, safety and long-term partnerships, Nelnet Renewable
Energy is well-poised for further success in constructing and
developing commercial solar projects, especially in the Midwest and
New York. Nelnet Renewable Energy
has approximately 15 projects under construction with an average
size of 4 megawatts.
"We look forward to strengthening our position in the commercial
solar market, driving innovation and contributing to a cleaner,
more sustainable future for all," said Kruger. "With a strong
foundation in construction and solar experience, we are set to
deliver projects that exceed expectations in quality and efficiency
with meticulous execution. We thank our customers, partners, and
stakeholders for their continued support and trust."
About Nelnet and Nelnet Renewable Energy: Nelnet (NYSE:
NNI) is a publicly traded diversified financial services and
technology company focused on offering educational services,
technology solutions, professional services, telecommunications,
and asset management. As a brand of Nelnet, Nelnet Renewable Energy
serves others by financing, developing, deploying, and operating
clean energy solutions that create sustainable value. For more
information, visit www.NelnetInc.com.
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SOURCE Nelnet Renewable Energy