The 100% renewable electricity supplier and power provider Good Energy has hit the acquisition trail again, snapping up another solar installation company as it looks to become a major player in the market.
The Chippenham-headquartered group is paying up to £6m for Amelio Solar, a solar installation company with a strong presence in the commercial solar sector.
The Lincolnshire-based firm also has extensive experience in education and public sector projects.
Good Energy said the move represented a further step in delivering on its strategy to expand its capability in decentralised energy services by significantly expanding its geographical presence in the solar installation market.
It added that the acquisition built on its current offering, which is weighted to domestic installation, and was in line with its vision of powering a cleaner, greener future by making it simple to generate, use and share clean energy.
The solar installation market was worth £1.9bn last year, with installations growing 38% on already strong growth in 2022.
To gain a toe hold in the market Good Energy snapped up established Dorchester-based solar installation business Wessex EcoEnergy for £2.5m last year and paid £13.75m for Kent-based specialist solar and storage installation and distribution business JPS Renewable Energy in February.
Amelio Solar made a pre-tax profit of £1.4m on revenue of £7.1m last year.
Good Energy CEO Nigel Pocklington said: “Amelio Solar is a perfect fit for Good Energy as we continue to grow our clean energy service offerings, especially in the commercial and public sectors where demand for solar installations remains strong and less susceptible to the cyclical fluctuations seen in the domestic market.
“Amelio Solar's proven ability to deliver large, complex solar projects will enable us to better support businesses and public sector bodies in cutting their carbon emissions, while positioning Good Energy as a leader in commercial solar solutions."
Good Energy has also ventured into the heat pump installation market with the 2022 acquisition of Southampton-based Igloo for £1.75m.
The group, founded in 1999 with a mission to power a cleaner, greener future together, also part owns electric vehicle charge point mapping app Zap-Map.
This summer it became the first UK household energy supplier to be certified as a B Corp, recognising its high standards of social and environmental performance, transparency and accountability.
