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