Good Energy acquires solar and storage business

Good Energy has agreed to buy JPS Renewable Energy and Trust Solar Wholesale for £7 million

Good Energy Group, a provider of renewable electricity and energy services, has finalised its acquisition of JPS Renewable Energy Ltd and its subsidiary, Trust Solar Wholesale Limited.

The agreement, valued at £7 million initially with additional deferred consideration, aims to bolster Good Energy‘s service offerings and expedite its growth strategy in the energy services sector.

Concurrently, the company has conducted a vendor placing, raising £2.1 million to maintain cash reserves for operational needs and explore further expansion opportunities.

Nigel Pocklington, Chief Executive Officer of Good Energy Group PLC, said: “Solar is experiencing a boom in the UK and its role in decarbonising our energy system is absolutely crucial.

“The solar installation market was worth £1.9 billion in 2023 with installations growing 38%. on already strong growth in 2022. This is pronounced in the South East, which is the region with the fastest rate of domestic installations in the country.

“The JPS Group has carved a position as a leading installer across the region, serving as the solar specialist in the South East of the UK for larger homes and properties with more complex requirements.”

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