Florida-based Apricus Generation has acquired a controlling interest in Nexus Renewables, a solar and energy storage developer, according to a May 29 news release.

Nexus, which has a pipeline of about 500 megawatts of solar and energy storage projects in North America, is Apricus’ first strategic acquisition. The holding company launched earlier this year.

“As with many independent developers, Nexus has more project opportunities than access to capital,” said Gautam Chandra, executive chairman and co-founder of Apricus Generation. “By joining Apricus, they now have access to capital and expertise that will allow them to execute on their pipeline.”

Nexus Renewables is based in Toronto, Ontario.