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    Babcock Power Renewables Acquires Renewable Concepts


    June 20, 2022 - Contify Energy News

     

      Babcock Power Renewables LLC, a Babcock Power Inc. (BPI) company, today announced that one of its subsidiaries has entered into a conclusive agreement to purchase substantially all of the assets of Renewable Concepts Inc. (RCI), a leading U.S. provider of innovative and reliable maintenance and service solutions for the wind power industry, and its affiliate R. Tinsley Projects Inc. Through this strategic acquisition, Babcock Power Renewables positions itself to expand BPI’s overall portfolio of clean energy products and services. RCI was founded in 2008 by Rob Tinsley, a pioneer for renewable energy and a leader in the wind power generation industry. "Renewable Concepts is well-known for timely and quality solutions it provides to the wind industry. Going forward, Babcock Power, a company also known for its integrity throughout the energy industry, will provide high-quality solutions and top-notch customer service to users of wind power generation services," said Rob Tinsley, founder and CEO of RCI.

      Original Press Release:

      DANVERS, Massachusetts, June 16 -- Babcock Power Inc. issued the following news release:

      - Babcock Power Renewables LLC, acquires substantially all of the assets of Renewable Concepts Inc. and R. Tinsley Projects Inc.

      Babcock Power Renewables LLC, a Babcock Power Inc. (BPI) company, today announced that one of its subsidiaries has entered into a conclusive agreement to purchase substantially all of the assets of Renewable Concepts Inc. (RCI), a leading U.S. provider of innovative and reliable maintenance and service solutions for the wind power industry, and its affiliate R. Tinsley Projects Inc. Through this strategic acquisition, Babcock Power Renewables positions itself to expand BPI’s overall portfolio of clean energy products and services.

      “This acquisition aligns with our core commitment to meet the needs of our customers across a broad spectrum of market segments,” said Michael LeClair, President and CEO of Babcock Power Inc. “We provide solutions that support global energy and RCI is the ideal partner to help us continue this growth. RCI’s wind turbine expertise will be a strong addition to our existing portfolio and supports our strategic vision to serve the growing global demand for safe, reliable, and clean energy.”

      RCI was founded in 2008 by Rob Tinsley, a pioneer for renewable energy and a leader in the wind power generation industry. RCI is known for its skilled engineering and technical wind mechanical solutions, including maintenance, engineering, construction and repair services for wind turbines.

      “Renewable Concepts is well-known for timely and quality solutions it provides to the wind industry. Going forward, Babcock Power, a company also known for its integrity throughout the energy industry, will provide high-quality solutions and top-notch customer service to users of wind power generation services,” said Rob Tinsley, founder and CEO of RCI.

      Source: Babcock Power Inc.

      [Category: Energy, New Renewable Energy, M&A Activities, ESG, Divestiture]

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