Germany-based Conergy has announced that it has acquired Wirsol Solar UK for an undisclosed sum.
The solar manufacturing and construction firm will assume Wirsol Solar UK’s solar farm portfolio which totals 100MW. Half of the acquired portfolio is ready to build, with a number of projects already in construction.
Conergy, which was purchased by Miami-based Kawa Capital Management in October 2013, has targeted significant growth in the UK solar market. The acquisition of Wirsol Solar UK considerably strengthens the company’s UK presence, doubling its current UK project pipeline.
In addition to the project pipeline, Conergy is also expanding its UK staff by adding Wirsol’s employees to the team, a move that the company believes will help further strengthen its UK solar expertise.
Commenting on the acquisition, Alexander Gorski, COO and CEO Europe of the new Conergy holding company said: “The UK is one of the most exciting growth markets for Conergy, especially for the development and the construction of turnkey PV plants. We have a leading position in this market with our project pipeline including solar farms totalling around 200MW.”
Conergy is also considering the introduction of a finance offering to help boost its position in the European solar market. Gorski explained: “In addition to our build expertise, we plan to further strengthen our activities in project development and financing. After the growth markets in Asia and North America, we are in a position to successfully implement this strategy also in Europe with the target to further expand such investments.”
The UK solar market is set to be the largest European solar market in the first quarter of 2014 due to large growth in ground-mount solar projects looking to take advantage of funding under the Renewable Obligation before it drops in April 2014.