Conergy buys Wirsol Solar UK

28 January 2014 (Last Updated January 28th, 2014 18:30)

Germany-based solar photovoltaic (PV) systems manufacturer Conergy has completed the acquisition of Wirsol Solar UK for an undisclosed amount.

Germany-based solar photovoltaic (PV) systems manufacturer Conergy has completed the acquisition of Wirsol Solar UK for an undisclosed amount.

The acquisition includes Wirsol's solar farm portfolio totalling approximately 100MW in the UK and all employees.

Construction work on 50MW of the portfolio is said to be ready to start with the first projects that are already under way.

Another 50MW solar plants, which are currently in the development phase, are expected to be ready to be built in the course of the year.

Conergy COO and CEO for Europe Alexander Gorski said the UK is the company's one of the key markets especially for the setting up of turnkey solar PV plants.

"Construction work on 50MW of the portfolio is said to be ready to start with the first projects that are already under way."

"We have a leading position in this market with our project pipeline including solar farms totaling around 200MW," Gorski said.

"Together with Kawa Capital Management as our owner, we aim to build our core businesses organically and through acquisitions."

The new ownership with Kawa is said to help Conergy grow and expand its project development and financing business globally.

With the acquisition of Wirsol Solar, Conergy has doubled its project pipeline while securing exclusive construction rights for the entire portfolio in the UK.

Earlier in November 2013, Conergy sold a 90MW solar farm portfolio that was developed together with a local partner.

Energy