M&A Action: Mitsubishi Subsidiary Invests In Massachusetts Energy Companies

Diamond Generating Corp. (DGC), an independent power producer and a wholly owned subsidiary of Mitsubishi Corp., has announced substantial investments into two Boston-based firms and the opening of a corporate office to complement the growth of its distributed energy platform. DGC completed the acquisition of Boston Energy Trading and Marketing LLC (BETM), an energy trading and marketing firm, from NRG Energy Inc. on Aug. 1. Less than one week later, DGC acquired a controlling stake in Nexamp Inc., a clean energy, and community solar provider, following an initial successful investment in the company in 2016. DGC says the investments establish Massachusetts as the foundation for the company’s national efforts to expand its renewable energy deployments and advance comprehensive solutions for energy storage, asset optimization, energy management and retail power.