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AGL buys C&I solar leaders Solgen and Epho

AGL buys C&I solar leaders Solgen and Epho

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AGL has entered into agreements to buy two of Australia’s largest commercial solar businesses, Epho and Solgen Energy Group (from Anchorage Capital Partners), market leading commercial and industrial solar businesses.

AGL managing director Brett Redman said the acquisitions will see the company become the largest commercial solar provider in Australia.

“These acquisitions are another step in AGL’s energy transition and a clear example of how we are responding to the accelerating market forces of customer demand, community expectation and the development of technology,” Redman said.

“With these acquisitions, we will have the systems and technologies in place to deliver more than 70MW of commercial solar each year, providing a combined revenue of over $150 million per annum.”

AGL did not say what it is paying for Solgen and Epho.

Sydney-based Epho worked on the delivery of one hundred 100kW systems over 100 work days for retailer Aldi, and won the Clean Energy Council solar award 2020 for systems over 240kW.

Epho has also seen success at some projects with its Bright Thinkers Power Station solution, which enables exports and the potential for C&I solar zones to operate as utility-scale plants.

Solgen, with its headquarters also in Sydney, was top performer for C&I installations in 2018 and in recent years has developed propositions around short-term power purchase agreements.

“Renewable acquisitions, such as Epho and Solgen, contribute to AGL’s progress toward achieving its Climate Statement commitments, which includes a target of net zero emissions by 2050,” Redman said.

Established in 2008, Solgen operates a large wholesale distribution, engineering, procurement and construction (EPC) business, delivering more than 15,000 projects in the past decade.

Epho, formed in 2014, specialises in the construction and maintenance of large-scale systems and has delivered more than 400 projects nationwide.

Source: ecogeneration
Anand Gupta Editor - EQ Int'l Media Network