NV5 Acquires Sage Renewable Energy Consulting
NV5 Global, a provider of compliance, technology, engineering, and environmental consulting solutions, has acquired Sage Renewable Energy Consulting, a leader in comprehensive sustainable energy planning and project management services.
Founded in 2009, Sage has successfully managed over $2 billion in clean energy projects and negotiated dozens of successful power purchase agreements for clients in the public and private sectors.
Sage operates nationwide and expands NV5’s growing environmental, social, and governance (ESG) service portfolio. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.
“Clean energy continues to grow as a percentage of NV5’s revenue,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Sage’s expertise in the renewables, battery storage, microgrid, and electric vehicle planning space enhances our ESG capabilities and presents opportunities for cross-selling with our existing ESG services.”
“This transaction will enable us to accelerate the expansion of our practice and offer NV5 clients expertise in developing new clean energy systems, electric vehicle fleets and infrastructure, and asset management,” said Tom Williard, Principal at Sage.
The growth of the renewable energy industry
The world’s renewable energy industry grew at its fastest pace since 1999 last year, despite the disruption caused by Covid-19, and may have established a standard for growth in the future, according to the International Energy Agency (IEA).
The global energy watchdog revealed that the delivery of renewable energy projects, including wind farms and solar power projects, grew by 45% last year in a step-change for the global industry. Wind power capacity doubled over the last year, while solar power grew by almost 50% more than its growth before the pandemic, due to the growing appetite for clean energy from governments and corporations.
“Clean energy is a sector with high market growth potential, as evidenced by Sage’s continued organic growth, and we are excited to add Sage’s team and capabilities to our Energy Efficiency and Decarbonisation group,” said Ben Heraud, COO of Energy Efficiency and Decarbonisation at NV5.