Solgen Energy Group to join AGL’s Business Energy Solutions Team
AGL has today announced it has entered into an agreement to acquire Australia’s largest commercial solar business, Solgen Energy Group.
The acquisition complements and strengthens AGL’s existing solar capabilities, enabling the combined group to deliver more tailored and innovative energy solutions for businesses.
As Australia’s first and largest business in the commercial and industrial solar market, Solgen Energy has established enduring relationships with significant corporate clients and government agencies.
Established in 2008, Solgen Energy embarked on delivery of one of the largest government solar rollouts across more than 1000 NSW government schools. As the solar industry evolved, the group pioneered the solar power purchase market with the Tyrrells solar farm and commonly undertake multi-megawatt rollouts for some of Australia’s biggest brands.
Working with the CSIRO to drive greater customer value from the integration of solar and battery storage, Solgen Energy has developed a leading virtual power plant platform. This platform will dynamically operate with customer energy portfolios to optimise financial outcomes across energy pricing and other energy markets.
Solgen Energy Group’s distribution business, Sol Distribution, has grown to be one of the largest importers of solar equipment in the Australian market. With nationwide warehousing and logistics capability, Sol Distribution underpins Solgen Energy’s delivery capability as well as the significant installer market within Australia.
AGL CEO & Managing Director, Brett Redman said that on completion of the acquisitions, AGL will become the largest commercial solar provider in Australia.
“This part of the energy sector has seen significant growth over the last 10 years, as businesses right across Australia seek out solar offerings to help them decarbonise, reduce costs and create sustainable operations.
“AGL will continue to evolve and innovate in energy and other essential services to enhance the way
Australians live and drive a cleaner energy future.”
Solgen Energy Group, CEO David Brown said AGL and Solgen Energy Group strategies are well aligned, creating an exciting opportunity to grow.
“This will allow us to provide more customers with best-in-market commercial energy solutions throughout Australia – this group will play a leading role in the future of the broader, national solar energy market,” Mr Brown said.
Anchorage Capital Partners Chairman, Phil Cave said they are proud to have worked with the Solgen team to develop Australia’s largest commercial solar company.
“We are delighted that AGL recognised the strategic benefit of Solgen and look forward to following its continued growth under AGL’s ownership,” Mr Cave said.
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