RWE to invest in Conergy

• 9 years ago (2015-03-17)
• Junior Isles

Europe 1089 North America 1021 Renewables 776

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Conergy, one of the world’s largest downstream solar companies is to receive an equity investment from RWE Supply & Trading, the energy trading arm of the European utility.

The investment is part of a larger equity funding round led by Kawa Capital Management and results in RWE owning a minority stake in Conergy. Kawa Capital Management, Inc., which acquired Conergy in 2013, maintains majority ownership in the Company. The additional capital will be used to support Conergy’s aggressive global growth plans.

The investment follows the partnering between RWE and Conergy for commercial PV ‘solar rentals’ partnership, which targets business customers of RWE Group, initially in Germany, and the finance, construction and sale of one of the UK’s biggest solar farms, at Kencot Hill in Oxfordshire.

Conergy recently announced a profitable 2014 with nearly half a billion dollars in revenue, in expanding its services providing project development, financing, engineering, procurement and engineering (EPC) and operations and maintenance (O&M) globally. Conergy provides these services across all solar segments: utility-scale, commercial and residential, and in both emerging and high-growth solar markets.