Good Energy Acquires JPS Renewable Energy, Expands Solar Portfolio

Feb 12, 2024 12:26 PM ET
  • Good Energy Group strengthens its position as the UK's top solar specialist with the acquisition of JPS Renewable Energy, expanding its market share and product offerings.

Good Energy Group has announced its acquisition of JPS Renewable Energy, a specialist solar and storage installation and distribution business, and its subsidiary Trust Solar Wholesale. The acquisition is valued at £7m initially, with a further deferred consideration of up to £6.75m, subject to performance conditions. The payment will be made through a combination of cash and the allotment of new ordinary shares in Good Energy. The acquisition will help Good Energy solidify its position as the UK's leading solar specialist and expand its market share.

JPS Renewable Energy is a leading installer in the South East of the UK, serving larger homes and properties with complex requirements. The company is experiencing significant growth in response to the demand for premium clean energy products and services. Good Energy plans to integrate JPS Group under its brand to further grow and consolidate its market share and introduce its wider product suite to a new customer base. The solar installation market in the UK was worth £1.9bn in 2023, with installations growing by 38% compared to the previous year.

How will Good Energy's acquisition of JPS Renewable Energy strengthen its position in the solar industry?

  • The acquisition of JPS Renewable Energy will allow Good Energy to expand its presence in the South East of the UK, where JPS is a leading installer.
  • JPS Renewable Energy specializes in serving larger homes and properties with complex requirements, which will help Good Energy tap into a new customer base and cater to a wider range of clients.
  • The demand for premium clean energy products and services is growing, and JPS Renewable Energy is experiencing significant growth in response to this demand. This acquisition will enable Good Energy to capitalize on this trend and further solidify its position in the solar industry.
  • Good Energy plans to integrate JPS Group under its brand, which will help consolidate its market share and create a stronger and more recognizable presence in the solar industry.
  • The solar installation market in the UK is expanding rapidly, with installations growing by 38% compared to the previous year. By acquiring JPS Renewable Energy, Good Energy will be well-positioned to take advantage of this growth and capture a larger share of the market.
  • The acquisition is valued at £7m initially, with a further deferred consideration of up to £6.75m, subject to performance conditions. This investment demonstrates Good Energy's commitment to expanding its presence in the solar industry and its confidence in the potential of JPS Renewable Energy.
  • The payment for the acquisition will be made through a combination of cash and the allotment of new ordinary shares in Good Energy, which will help strengthen the company's financial position and provide additional resources for future growth and development.
Source:
renews.biz

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