Another Canadian Utility Looks South of Border for M&A Targets
Gaz Metro Inc. became the latest Canadian energy company to look south of the border for new sources of revenue after snapping up Standard Solar Inc. to tap into the growing U.S. renewable market. Standard Solar said its acquisition by the Montreal natural gas distributor will speed up its growth in distributed generation and energy storage markets, according to a statement by the Rockville, Maryland-based company on Tuesday. The purchase puts Gaz Metro in a growing field of Canadian companies that can’t seem to get enough of America’s energy assets.