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Novatus Energy and Southwest Generation merge into Onward Energy

Independent power producers combine assets to create US-wide 4GW solar, wind and natural gas entity. ....

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Onward Energy formed through the Combination of Novatus Energy and Southwest Generation to Create 4 Gigawatt U.S. Power Platform

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NEW YORK, Jan. 12, 2021 /PRNewswire/ U.S.-based independent power producers Novatus Energy and Southwest Generation today announced the completion of a merger of the two companies to create Onward Energy. Onward Energy will continue under common ownership by institutional investors advised by J.P. Morgan Asset Management. Onward Energy owns 43 wind, solar, and natural gas generating projects across 16 states, and will be ideally situated to help customers address the U.S. energy market s transition to lower carbon.
Combining these companies positions us to be a leader in the energy transition, said John Foster, CEO of Southwest Generation, who will serve as Executive Chairman of the merged entity. With an array of zero-carbon renewable resources and flexible natural gas generation capabilities, the new company will be able to offer a full range of energy solutions to customers seeking reliable ways to reduce their carbo ....

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