EDP to buy Polish solar DG firm Soon Energy

Portuguese electric utility EDP - Energias de Portugal SA (ELI:EDP) announced on Thursday that it will acquire Soon Energy, a solar distributed generation (DG) company in Poland.

Warsaw-based Soon Energy boasts over 25 MWp of solar DG installations for residential and business customers in across its home country, with 10 MWp of that installed last year, EDP said. The firm closed the books on 2021 with EUR 6 million (USD 6.6m) in revenues, according to its new soon-to-be owner.

Financial details were not disclosed.

Through the acquisition, the Portuguese group's subsidiary EDP Comercial will get access to 400 local sales agents and a team specialised in delivering sustainable energy solutions for the business segment.

"EDP wants to grow significantly in that country in the coming years and aims to be one of the leading companies in the distributed solar energy market. With this acquisition, EDP intends to more than triple its growth next year," the group said in a statement.

EDP started commercial operation in Poland in 2020. In 2021, it supplied around 50 GWh of energy to business customers and contracted more than 5MWp of capacity in solar self-consumption projects in the business segment.

On a global level, EDP will aim to have over 2 GW of solar DG solutions installed at family homes and businesses by 2025, it said.

(EUR 1.0 = EUR 1.110)

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