Crius Energy Buying Bankrupt Verengo in U.S. Rooftop Solar Push

Crius Energy Trust, a Canadian power retailer, agreed to buy the assets of a bankrupt residential solar installer, its second such deal in recent days focused on rooftop solar systems. Crius agreed to pay $11.9 million for assets of Verengo Inc., which filed for protection from creditors Sept. 23 (In re Verengo, Inc., Bankr. D. Del., 1:16-bk-12098, petition filed 2/8/16).

Verengo is acting as debtor-in-possession during Chapter 11 proceedings and will provide as much as $4.8 million in financing until the acquisition is completed by late next year, the Toronto-based company said in a statement.

That follows ...