Soligent has acquired the U.S. solar distribution division of Conergy, expanding Soligent Distribution’s service range to more than 40 additional countries. With this acquisition, Soligent Distribution will serve almost 5,000 solar installers, energy efficiency firms, electrical contractors and roofing companies worldwide and Soligent will have estimated annual revenue in the hundreds of millions of dollars.
The transaction is the latest step in Soligent’s strategy to expand the solar market by making independent and regional solar dealers more competitive. The company is developing new financing programs, cloud-based applications, logistics and installation services, and other products and services that effectively provide local dealers with the same capabilities as nationally-based installers and also give them the opportunity to cut soft costs and streamline operations. By collaborating with Soligent, solar dealers can grow their businesses and reduce their overhead.
“We envision a world where solar isn’t just the cleanest choice for power, it is the obvious choice,” says Jonathan Doochin, CEO of Soligent. “We see this as an additional opportunity to give our current and future dealers – of any size or in any location – the tools they need to make a difference in the lives of people everywhere.”
“By adding the U.S. distribution unit of Conergy, Soligent will be a stronger partner for our dealers, manufacturers, and, ultimately, for the millions of Americans installing solar on their homes,” adds Mark Laabs, COO of Soligent.
Conergy will continue to sharpen its focus in the U.S. on project development, financing, construction and operations. With over 650 MW of solar development experience around the world, Conergy is one of the only downstream solar companies without manufacturing ties. Conergy currently maintains a global presence with offices in the U.S., Canada, Germany, United Kingdom, Italy, Singapore, Australia and Japan.
“Conergy sees great opportunity at a time in the Americas where utility-scale and distributed generation continues to grow across all markets,” says Anthony Fotopoulos, CEO of Conergy Americas. “Throughout North America, Conergy has been able to partner with developers and building owners due to our strong balance sheet and project financing relationships. With our additional resources, we can sharpen our focus and maintain our growth into additional markets in Central and South America to procure and develop new pipeline.”
Soligent’s Solar Engine program will also grow as a result of this combination, adding new installer partners and more than 150 projects around the U.S. By adopting Solar Engine, customers can increase their profitability by an estimated 10% on average while substantially reducing the time-to-completion for residential and commercial solar projects, the company says.
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