Good Energy buys heat pump installer Igloo

UK renewable power company Good Energy Group Plc (LON:GOOD) said on Monday that it has taken over local heat pump installation firm Igloo Works Limited for an initial consideration of GBP 1.75 million (USD 2.13m/EUR 2.03m) as part of its carbon footprint reduction push.

Igloo offers air-source heat pump technology, providing hot water and heating for domestic customers. It is a subsidiary of Lightbulb ES Limited.

The deal is aligned with Good Energy's strategy to accelerate its capability in decentralised energy services and also supports the group’s ambition to help one million customers cut carbon by 2025, the buyer said.

“The heat pump market is hotter than ever. As everyone feels the crunch of gas prices, more customers than ever are eager to cut loose from fossil fuels and take control of their energy by switching to clean power,” Good Energy’s CEO Nigel Pocklington said.

Good Energy is a supplier of 100% renewable power and energy services. It has long-term power purchase agreements (PPAs) with 1,700 independent UK generators.

The British firm in January sold its entire 47.5-MW portfolio of renewable generation assets to Bluefield Solar Income Fund Ltd (LON:BSIF) as part of its shift to decentralised energy and mobility services.

(GBP 1 = USD 1.219/EUR 1.160)

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