Novatus, Southwest Era Merge to Type Onward Vitality
Novatus Energy and Southwest Generation, independent US-based power producers, have merged the two companies to create Onward Energy.
Onward Energy will continue to be jointly owned by institutional investors advised by JP Morgan Asset Management. Onward Energy owns 43 wind, solar and natural gas projects in 16 states and is ideally located to help customers transition the US energy market to low carbon products.
“By bringing together two highly productive and talented teams, we have gained the best of both companies, with Onward being something even greater than the sum of its parts,” said Steve Doyon, CEO of Novatus Energy, who will take on the same role new companies. “The energy transition not only requires flexible resources, but also qualified and experienced teams in order to guarantee customers in the USA a clean and reliable power supply.”
Onward will continue to provide services under Novatus Energy and Southwest Generation’s existing power purchase agreements with their respective counterparties and looks forward to continuing existing relationships with local communities. The integration was completed without any major disruption to the workforce.