September 25 (Renewables Now) - Renewable energy software company AlsoEnergy said today it is merging with solar monitoring and data analytics provider Locus Energy.
The combined company will serve the residential, commercial, industrial and utility-scale photovoltaic (PV) markets and will have over 25 GW of power monitored across more than 190,000 sites around the world. AlsoEnergy’s global service organisation is expected to be bolstered by the integration of Locus Energy’s customer service and engineering support centre.
AlsoEnergy will continue to lead the business, while energy monitoring expert Genscape, which owned Locus Energy before the announced transaction, will retain a minority shareholding in the enlarged company. The financial terms of the deal were not disclosed.
“Throughout 2018, we have made strategic investments to consolidate best-of-breed technologies that can be integrated through our unified back-end platform to create an end-to-end industry leading portfolio,” said Bob Schaefer, CEO of AlsoEnergy.