Generac is to acquire Chilicon Power, a US-based microinverter and solar monitoring solutions provider, in a deal which will see the company take aim at the solar microinverter market.
Terms of the deal, which closed late last week but was only announced on Tuesday (6 July), were not disclosed.
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Chilicon, which is based in California, manufactures microinverter and monitoring solutions for the residential solar market. Russ Minick, president of energy technology and chief marketing officer at Generac, said the addition of Chilicon’s microinverter products to his company’s solar and storage range would create “one of the broadest product offerings in the residential clean energy market”.
“Putting Chilicon’s microinverters in the hands of our global network of Generac dealers and distributors will strengthen our competitive position in this rapidly expanding market,” he said.
The deal puts Generac, among the US’ leading providers of domestic energy storage products, in direct competition with US-based microinverter provider Enphase Energy.
“As part of the Generac team, we are able to accelerate our vision for a greener, energy-independent future and provide our microinverter solutions to a significantly larger customer base using Generac’s global distribution network and proven go-to-market strategies,” Christopher Jones, co-founder at Chilicon Power, said.