ENcome acquires abakus solar

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
abakus solar's open-air power plant of the administrative district in Rietberg
. Source: abakus solar

Austria-based PV O&M company ENcome has acquired abakus solar, a German PV wholesale business that specialises in project development, EPC and O&M, for an undisclosed amount. The deal was arranged by SolarKapital, a private equity company focusing on the solar market.

The immediate ramification of the acquisition is that ENcome’s PV assets under management are to grow to approximately 800MWp with the company’s O&M operations in the UK and Germany to expand significantly – to 300MWp and 250MWp respectively.

According to the company, the abakus acquisition has catapulted ENcome into the top spot for independent PV service provider in Europe. This is the latest venture in the company’s new ‘Buy&Build’ strategy, which last saw ENcome acquire the PV O&M business of Enerqos in December last year, with more acquisitions in the pipeline.

“With abakus solar we have found a company that perfectly fits ENcome in its business model, innovative capacity and its highly motivated and qualified personnel. Together, we want to increase our European presence and provide high service quality and add value in order to maximise the benefit of our customers,” said Robin Hirschl and Burkhard Söhngen, managing directors of ENcome, in a joint statement.

The company also acquired 100% of the shares in abakus solar Manchester after abakus underwent insolvency restructuring. The validity of the transaction is still subject to a few conditions, which will be fulfilled within the next few weeks. 

Read Next

January 21, 2022
The European Commission has launched a public consultation on solar energy on the continent as it continues preparations to publish its solar strategy later this year.
January 19, 2022
Innovative Solar Systems (ISS), a utility-scale solar developer with a 12GW pipeline, has put itself up for sale, as it seeks partners to support the company in its development of ever larger PV projects across the US.
January 19, 2022
Renewables developer R.Power has signed a power purchase agreement (PPA) with energy trader Axpo for nearly 300MWp of solar in Poland.
January 19, 2022
Energy major Shell has acquired 100% of PV project developer Solar-Konzept Italia (SKI), taking its solar development pipeline in Italy to around 2GW in the process.
January 17, 2022
Spanish energy company Iberdrola has bet big on the UK market through the acquisition on 17 solar PV projects from Elgin Energy and Lightsource bp, taking the firm’s share of UK solar from 2% to 9% and making it one of the biggest players in the market.
January 12, 2022
German asset manager KGAL Investment Management has acquired a combined 50% stake in renewables developer GP Joule Projects, with the two companies intent on taking advantage of the “immense growth opportunities” of renewables across Europe, and in particular Germany.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal