Nuveen Acquires Ally Energy Solutions to Accelerate Climate Impact
Nuveen, a global investment manager, has acquired a majority stake in US-based Ally Energy Solutions. The move aims to accelerate Ally's growth and impact, addressing climate change and inequality while ensuring strong financial returns.
Ally Energy Solutions, established in 2014, specialises in large-scale energy projects for commercial and industrial customers. It has completed over 1,000 projects, avoiding an estimated 578,000 tons of CO2 emissions and reducing peak demand by 60 megawatts.
Nuveen's Climate Inclusion strategy, which focuses on addressing climate change and inequality, led to this acquisition. The investment will enable Ally to expand nationwide, delivering more operating cost and emissions reductions for clients. Brian Walterbach, previously Ally's COO, will take over as CEO from Shane Mathis, who will become Chief Strategic Officer. The acquisition was made by Nuveen's Private Equity Impact team through the Nuveen Climate Inclusion Fund II.
With Nuveen's backing, Ally Energy Solutions is poised to grow and make a bigger impact on reducing carbon emissions. The company's solutions help clients improve energy efficiency, reduce their carbon footprint, and meet sustainability goals. This acquisition aligns with Nuveen's commitment to addressing climate change and inequality.
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