E.ON UK has announced that it has signed an agreement to fully acquire Eco2Solar, a residential solar firm that works alongside property developers and new-build housing projects.
E.ON UK acquired a 49% stake in the business in December 2020, and worked alongside the firm to expand its network – to date, Eco2Solar has installed solar panels on more than 50,000 homes, generating approximately 85 million kilowatt-hours of green electricity annually.
In a statement, E.ON UK said that the acquisition will strengthen its position in the solar installation market, in line with the UK government’s ambition to build 1.5 million new homes and achieve clean energy by 2030.
‘Strategic step’
“This is another important, strategic step towards accelerating our growth in the new builds market, while connecting residential customers to flexible energy solutions that help to lower their bills, and continuing to lead on the UK’s transition to clean energy,” commented Chris Norbury, CEO of E.ON UK.
“Having acquired a 49% stake in Eco2Solar five years ago, we have been helping developers deliver renewable energy solutions to reduce carbon emissions, and with the aim of making solar energy flexible and affordable for the many, not the few.”
Eco2Solar was founded in 2007, with the aim of making solar energy solutions a viable, cost-effective standard for every home and residential dwelling.
‘Create new models’
“My vision has always been to make solar standard and to change the way that we think about how we get our energy in this country,” Paul Hutchens, CEO of Eco2Solar added. “E.ON UK and Eco2Solar have the opportunity and resources to create new models that will make solar and other sustainable technologies available to everyone.”
Globally, E.ON is a major provider of energy solutions and clean energy networks with around 47 million customers across 17 countries, while in the UK, it serves close to one in seven households. Read more here.
