Nabors Industries Ltd. NBR said Tuesday its special purpose acquisition company, Nabors Energy Transition Corp. NETC agreed to acquire Vast Ltd. in a deal that values the concentrated solar power specialist at up to $586 million. Vast will be listed on the New York Stock Exchange under the ticker symbol VSTE and remain headquartered in Australia after the deal closes as expected by the end of the third quarter. Vast is currently developing 230 megawatts of alternative power. Nabors said Vast marks its ninth and largest energy transition investment to date. “Vast’s next-generation concentrated solar power platform complements and enhances our existing portfolio of companies similarly pursuing clean, renewable, dispatchable and scalable energy solutions,” the company said. Nabors stock has risen 12.3% so far this year, compared to a 7.8% rise by the S&P 500 SPX.
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