Hover Energy Acquires Shine Development to Focus on Microgrid Projects

In an effort to further its capabilities ahead of scale production and global rollout of its patented Wind-Powered Microgrid, Hover has acquired Shine Development Partners. Shine focuses on the development, financing and asset management of medium- to large- scale commercial solar, energy storage, distributed wind and clean technology projects.

“As Hover has grown, our challenges have changed dramatically,” says Hover CEO Chris Griffin. “This acquisition positions us to not only manage that growth better, but also to thrive in our development of microgrids worldwide. The assets in this transaction currently under development, and the personnel of Shine that have now become Hover, bring depth of value and expertise that truly set Hover at the ‘head of the class’ in microgrid design, development and deployment.”

The Hover Wind-Powered Microgrid combines wind and solar energy generation as well as storage if needed. The centerpiece of the microgrid is Hover’s patented wind turbine. Installed as an array on the windward edge of a building’s roof, the aerodynamic design uses the building as a sail and delivers commercial-scale power, usually with higher production than rooftop solar alone. A direct drive generator reduces friction and allows for low cut in speeds.

The solar photovoltaic array installed in the center of the roof acts as a complement to the turbine array, generating power during daylight hours. Hover has designed the entire system with an open architecture to accept production from any source. The energy captured by all sources is directed to Hover’s Integrated Energy Management System where the energy is combined, cleaned, and converted into thre-phase AC power, directly linked to the building management system.  Excess power, such as power generated at night, can be stored in batteries.

“Hover brings a truly unique solution to the global energy marketplace,” comments Shine’s CEO, now Hover’s COO, Rajiv Pandya. “Shine’s extensive experience with the integration and structuring of renewable energy projects is a natural fit for Hover as the company migrates from R&D product development to commercialization at scale.”

Shine has developed and executed over 100 solar projects across 10 states and internationally since 2013, including 50 MW of projects currently under contract for future deployment.

Original Source: https://solarindustrymag.com/hover-energy-acquires-shine-development-to-focus-on-microgrid-projects