10 March 2021
Two of Australia’s leading commercial solar companies have been snapped up by AGL Energy, in a move that offers both a major endorsement of the booming C&I PV market and the latest sign of a period of consolidation driven by the increasingly tough operating conditions that have been dogging the sector.
As RenewEconomy reported on Tuesday, AGL announced separate deals to buy Solgen Energy Group and Epho in the gen-tailer’s second major push into the rooftop solar market as it plays catch-up on Australia’s rapid transition to distributed renewables.
Australia’s commercial solar market is running hot at the moment, as more and more corporations make commitments and firm plans to source part of all of their energy needs from low-cost and zero emissions renewables.
9 March 2021
Australia’s biggest coal generator and emitter AGL Energy has made a second major move into the rooftop solar market, this time targeting the booming commercial solar sector with the acquisition of two major players in that market, Epho and Solgen Energy Group.
ASX-listed AGL said on Tuesday that it had entered into agreements to buy Epho and Solgen – the latter from current owner Anchorage Capital Partners – to “complement and strengthen” its existing solar capabilities.
Epho and Solgen rank among the top five commercial rooftop solar installers in the country, which should be enough to propel AGL above its rival Origin Energy as the major incumbents seek to replicated their dominance in centralised generation in the new distributed energy market.