The company announced on Tuesday that it had entered into a $13 billion purchase agreement with Enphase Energy to build a large-scale hydropower project in Texas.
The deal was announced in a press release, and a statement said that Enphase will continue to develop and deploy the Enphase technology, which is used in a number of applications from hydraulic fracturing to desalination.
Enphase said that the deal will create jobs and generate significant cash flow.
The company said that it will also add more than 20,000 jobs and create more than 1,400 new jobs in the Houston area, with an expected net job impact of about $7.6 million.
The purchase price includes cash, options and other consideration.
Enstage said that its acquisition of the Texas project will be completed by 2021.
In addition to the Envisys acquisition, the company also announced that it has been awarded a $1.3 billion contract from the Federal Energy Regulatory Commission to help with the development of the Envirotech E3 system.
Envirods technology has been used to generate electricity for more than 10 years.
Envis has been using its technology to produce power at a number, including on-site in oil and gas operations, on-shore in the U.S. Gulf Coast, and on-land in North Dakota.
Envirods E3 has been deployed in more than 40 states and territories, including Texas, and in more remote parts of the country, including Alaska.