Edison International (NYSE:EIX) today announced that it has completed
the acquisition of SoCore Energy, LLC. Based in Chicago, SoCore Energy
is a distributed solar developer focused on commercial rooftop
Financial details of the transaction were not disclosed. SoCore Energy
will become a wholly owned indirect subsidiary of Edison International.
SoCore Energy's management team, employees and operations will continue
to be based in Chicago.
"SoCore Energy has built an impressive client base and pipeline of solar
projects with large retailers and other businesses," said Bert Valdman,
senior vice president of strategic planning at Edison International.
"We are excited about the opportunity to partner with Edison
International," said Pete Kadens, president and CEO of SoCore Energy.
"Aligning with a well-branded and progressive energy partner will
enhance our attractiveness to customers and broaden our suite of
offerings. The future is indeed bright for SoCore Energy."
SoCore Energy, a privately held company, was established in 2008 and
focuses on the solar energy needs of multisite retailers, real estate
investment trusts (REITs) and large commercial and industrial clients.
SoCore Energy has designed, installed, and operates 80 commercial-scale
solar installations in 11 states.
The company is responsible for executing one of the country's largest
solar energy rollouts for drugstore chain Walgreens. Key clients also
include IKEA, Kimco Realty, and the Simon Property Group.
About Edison International
Edison International (www.Edison.com),
through its subsidiaries, is a generator and distributor of electric
power and an investor in infrastructure and energy assets, including
renewable energy. Headquartered in Rosemead, Calif., Edison
International is the parent company of Southern California Edison, one
of the nation's largest electric utilities.
About SoCore Energy
is the market leader in solar portfolio development and commercial
rooftop installations. An Edison International company, SoCore focuses
on the solar energy needs of its clients, including multisite
and industrial companies. SoCore
combines engineering excellence and financial innovation to reduce the
operational and bottom-line expense of solar energy implementation and
cut energy costs.