
Koch Engineered Solutions (KES) LLC has acquired US engineering, procurement and construction (EPC) firm DEPCOM, which specialises in utility-scale solar PV projects, for an undisclosed amount.
A subsidiary of Koch Industries, best known for its background in fossil fuels, KES said the acquisition would enable its “entry into the fast-growing renewables market,” according to its president Dave Dotson.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
KES said its entry into the renewables sector was down to the “cost-competitiveness of utility-scale solar on an unsubsidised basis”, which meant it was becoming an “increasingly significant part of the generation mix”.
DEPCOM has a 5GW portfolio of projects across the US in operation, under-construction and pre-construction stages. It also performs operations and maintenance (O&M) and refurbishment services.
“DEPCOM has recorded impressive growth over the last few years, and this acquisition reflects our confidence that the company will be a major player in the future of this industry,” said Don Brown, vice president of business development at KES.
Arizona-based DEPCOM is “one of the largest solar EPCs in the US”, according to KES, and “differentiates itself through customer-centric solutions”.
Johnnie Taul, CEO of DEPCOM, said: “By joining KES, we are combining forces and shared values, and leveraging robust capabilities and knowledge centres that will accelerate our ability to enhance our existing services and expand our offerings into new service lines and markets.”
Stinson LLP served as legal advisor to KES on the transaction, while Greenberg Traurig LLP served as legal advisor to DEPCOM.