Solar Panel Roof Mounting Systems
Sungevity bankruptcy follow-up: Engie acquisition of its European business unit
Sungevity bankruptcy follow-up: Engie acquisition of its European business unit

Engie, the French energy group, has agreed to acquire the European business unit Sungevity, the Holland based Sungevity International, which has filed for bankruptcy of the American residential solar company. However, details of the financial terms of the transaction were not disclosed.

Engie Sungevity International said that since 2012 active in Belgium, Holland, Germany and the UK, and a subsidiary of Engie ,Engie Electrabel from the beginning of last summer, in cooperation with the former began in the residential solar market in Belgium. All 90 employees of Sungevity International will be incorporated into the Engie group.

Sungevity last year was the top five residential solar installers. But in March this year, due to the failure of the takeover of the investment company Easterly Acquisition Corp, resulting in failure to obtain public funding, in mid in the United States filed a eleventh chapter of bankruptcy applications.

On the other hand, Engie, the energy giant, has begun to expand its share of the solar sector through mergers and acquisitions. Its latest move is to gain a 30% stake in the latter by adding new energy (UnisunEnergy) to Chinese solar developers. Engie is also active in the solar sector through a range of subsidiaries. The group aims to achieve 2.2GW solar PV installed capacity in 2021.

Service Online

+86-158-5821-3997

+86-13739-270270