Published on 9 March 2021
AGL has today announced it has entered into an agreement to acquire, Solgen Energy Group, including Sol Distribution.
The acquisition complements and strengthens AGL’s existing solar capabilities, enabling the combined group to deliver more tailored and innovative energy solutions for businesses.
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, both residential and commercial, 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 strengthen our offering to customers with best-in-market products and energy solutions that will allow their businesses to thrive. ‘Enabling Solar Business’ is at Sol Distribution’s core and we intend to grow this strategy into the future.” 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 Sol Distribution and look forward to following its continued growth under AGL’s ownership,” Mr Cave said.
Media contact: Jacey Brown, Marketing Manager.