Premier Power expands activities in Europe with acquisition of Arco Energy

9 June 2009

Premier Power Renewable Energy is to expand its activities in the European solar energy market through its acquisition of Arco Energy, a privately held Italian solar project developer and distributor with more than 20MW of permitted projects worth approximately $114m in potential revenue.

Throughout its history Arco Energy has been profitable and as a result the acquisition will be immediately accretive for Premier Power. The company anticipates projects in Italy to begin generating substantial revenue growth for Premier Power in the second half of this year.

‘Italy is by far the leading market in the solar world today with both near-term and long-term potential that begins with immediate large scale solar farming projects and will move to rooftop and building-integrated photovoltaics (BIPV) market opportunities further down the line,’ said Dean Marks, CEO of Premier Power. ‘Arco Energy is a perfect fit. Both companies have always placed a premium on profitable growth and a focus on customer satisfaction. Our technology expertise complements each other perfectly and Arco brings a significant pipeline that adds immediate value.’

The acquisition of Arco Energy gives Premier Power access to arguably the world’s fastest growing solar power market today, the company said. With an aggressive feed-in tariff program and ideal solar power conditions, Italy’s solar market is expected to grow to 3,000MW by 2016, up from 325MW in 2008.

Premier Power Spain anticipates an almost doubling of its revenues in Spain this year as a result of its strategy of focusing on the distributed generation and rooftop markets. Premier Power sees a similar opportunity ahead with its entrance into the Italian solar market, the company said.

Arco Energy is based in Campo Basso, Italy. The company installs and connects ground mount systems in both Southern and Northern Italy.

Copyright © 2009 NewNet

Tags: solar

This story was published on Tuesday, June 9th, 2009 at 4:24 pm and is filed under Europe, deals, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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