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Aggreko makes solar power acquisition
23 January 2024
Aggreko has acquired the UK and South African businesses of RenEnergy Group, a UK-based company that builds solar energy and energy storage systems for commercial and industrial customers.
RenEnergy was founded in the UK in 2006 by Damian and Lori Baker and expanded into South Africa in 2012. It installs ground and roof mounted solar panels, special solar panels for carports, and energy storage and charging systems.
The company said it would continue to operate under its current brand following the acquisition.
Chris Rason, managing director of Aggreko Energy Services, said; “RenEnergy is a well-run business in the growing renewable energy sector and we look forward to supporting the management team in achieving their growth ambitions, both in terms of investment and the benefit our commercial position brings in both the UK and South Africa.”
Damian Baker, managing director of RenEnergy UK, said Aggreko was the perfect partner “as our capabilities and growth aspirations complement and strengthen one another. I am confident that our business will continue to thrive under Aggreko’s stewardship.”
The managing director of RenEnergy’s South African business, Claude Peters, said the transaction would enable it “to bring more solutions to more clients. We can accelerate our growth by combining with a significantly larger player in the energy industry.”
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