EDP expands Polish solar presence with acquisition of installer Soon Energy

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EDP sees distributed solar as a key area of growth in the polish market. Image: Unsplash

EDP is to acquire Polish distributed solar company Soon Energy, enabling its presence in Poland to grow fivefold, the company has claimed, as it targets distributed generation as a key growth area in the country.

Soon Energy has over 25MWp installed in solar projects across Poland, of which 10MWp was installed in 2021, accruing revenues of €6 million (US$6.6 million).

The acquisition will see EDP Commercial gain access to a local sales force of around 400 salespeople and a team with experience in providing sustainable energy solutions for the business segment, the company said in a statement.

Entering the Polish market in 2020, EDP has supplied around 50GWh of energy to business customers and contracted more than 5MWp of capacity in solar self-consumption projects in business customers.

EDP wants to significantly grow its operations in Poland in the coming years and aims to be one of the leading companies in the distributed solar energy market, with a particular focus on the sale, construction and maintenance of decentralised solar installations through to 2025.

Soon Energy will “help reduce costs for businesses and households, protecting them from the volatility of the energy market,” said Vera Pinto Pereira, EDP executive board member. “We are committed to growing strongly in the Polish market and believe that this acquisition is the right step to raise our ambition.”

Elsewhere, EDP plans to invest S$10 billion (US$7.39 billion) in renewables in the Asia Pacific (APAC) region by 2030 after closing its S$1.1 billion (US$813 million) acquisition of Singaporean developer Sunseap.

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