In an effort to further align its businesses, portfolio and resources to focus on wholesale markets, Duke Energy has sold its DukeSolutions business to Framingham, MA-based Ameresco Inc., a privately held energy services company. Terms of the transaction were not disclosed.

Ameresco said the acquisition of the commercial and industrial energy services business is a stock purchase transaction and is expected to be completed by the end of the second quarter.

“As Duke Energy pursues a focus on growth in wholesale energy markets, it is appropriate to place DukeSolutions with a company where the business mission is aligned,” said Bruce Williamson, CEO of Duke Energy Global Markets. “We are pleased that the DukeSolutions business will be part of a company that is clearly focused on developing energy services as a core business.” Duke said the sale is not material to its earnings projections going forward.

Ameresco said the acquisition is part of its national growth strategy with an emphasis on organic business growth as well as the acquisition of top-tier energy services companies throughout the United States. The transaction is expected to facilitate a broader national marketing effort to include an expanded menu of energy services and entry into related end-use markets.

Michael T. Bakas, vice president of Renewable Energy for Ameresco, said the acquisition provides great synergies because DukeSolutions’ business model is “identical to ours.” He added that “it is a nice fit to marry the two companies and take the final organization to a higher level.” Once the acquisition is complete, Bakas said DukeSolutions will be renamed and folded into the Ameresco family.

By promoting demand-side and supply-side solutions, Ameresco works with its customers to reduce operating expenses, upgrade and maintain their facilities, improve occupancy comfort levels, increase energy reliability and enhance the environment. By providing two core business services of energy conservation and generation, Ameresco said it allows its customers the chance to capitalize on energy opportunities and to focus on their organization’s primary mission.

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