Ecotricity Snaps Up SunEdison’s UK Solar Business
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UK-based green energy company Ecotricity has announced it has acquired SunEdison’s UK residential solar rooftop business.
Ecotricity, a leading green energy company in the UK, announced that it had acquired SunEdison’s residential solar business on the same day that SunEdison has announced it filed for bankruptcy in the US.
SunEdison had built up a significant portfolio of nearly a thousand rooftop installations across the UK under a product known as the Energy Saver Plan. The Plan allowed consumers to generate clean energy from rooftop solar with no upfront investment, and “low quarterly fees.” SunEdison promised savings of up to 15% on existing electricity bills, no upfront payment, and a 20-year performance guarantee.
“This is an exciting and important step for Ecotricity,” said Dale Vince, Ecotricity founder.
“As a company, we want to help more people generate their own power at home. The government’s cuts to the feed-in tariff, and its broader attack on the renewables industry, have caused a significant problem for companies like SunEdison: we have seen some go bust and others quit the UK market as a result, losing a lot of jobs as a result.”
“This is our first step into the domestic solar market, and as the price of the technology continues to fall, we’re confident that it’s only a matter of time before we can resume the work SunEdison started and help more homes take advantage of solar power.”
Ecotricity now supplies nearly 200,000 customers with clean energy from a fleet of wind and solar projects across the UK.
“We see a big future for renewable technology of this scale in Britain – small wind and rooftop solar will allow more people to generate their own power at home, decentralising the energy sector and putting power in the hands of the people.”
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