Koch Industries unit acquires solar EPC firm DEPCOM

Solar power plant. Source: DEPCOM Power Inc.

December 1 (Renewables Now) - Koch Engineered Solutions (KES), a unit of Koch Industries Inc, has taken over DEPCOM Power Inc, an engineering, procurement and construction (EPC) firm specialising in utility-scale solar power plants.

The acquired business not only designs, engineers, builds and commissions solar parks but also provides operation management, maintenance and refurbishment services. Its portfolio includes about 5 GW of US projects in the operation, under-construction and pre-construction stages.

"This acquisition is a major development for KES, as DEPCOM will enable our entry into the fast-growing renewables market, reinforcing our commitment to the electrical infrastructure market segment," said Dave Dotson, president of KES.

The Koch Industries subsidiary noted that the renewable energy sector has drawn its attention due to the cost-competitiveness of utility-scale solar on an unsubsidised basis.

Stinson LLP acted as legal advisor to KES on the transaction, while Greenberg Traurig LLP served as legal advisor to DEPCOM.

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