Project Better Energy (“PBE”), one of the UK’s leading solar, battery and EV technology groups, is pleased to announce the acquisitions of Photon Energy and Elco Group (trading as EG Solar).
These acquisitions represent a significant step in PBE’s strategy to expand its position in the fast-growing B2B solar PV installation market, complementing its established leadership in the residential retrofit sector through its core brand Project Solar UK and own brand distribution channel of EV chargers and heating products via the Project EV and Project CÜRV brands.
Photon Energy and EG Solar bring strong track records and extensive project pipelines across commercial new build, residential new build and commercial retrofit segments serving a range of blue-chip clients and flagship projects. Their integration will broaden PBE’s capabilities, enhance delivery capacity, and accelerate the Group’s growth ambitions in both existing and emerging markets.
Following these acquisitions, PBE is positioned as one of the UK’s largest independent renewable energy platforms, with market-leading brands, nationwide installation capacity, and a growing footprint across both consumer and commercial energy solutions.
Simon Peat, Chief Executive Officer of Project Better Energy, commented:
“The acquisitions of Photon Energy and EG Solar mark a fantastic milestone for PBE and the first of what we expect to be multiple strategic additions to the Group. They strengthen our position in the UK solar market and enable us to serve a wider segment of the clean energy economy. We are really excited to welcome 67 new colleagues to the PBE family”.
Jonathan Bates, Commercial Director of Photon Energy, said:
“We’re proud to see Photon Energy join PBE. The clean energy transition is a collective effort, and we’re confident this partnership will accelerate that mission while ensuring our customers and colleagues are in excellent hands”.
Luca Aldibek, Commercial Director of EG Solar, added: “The solar PV installation market is undergoing rapid growth and consolidation. Partnering with PBE gives us the platform, resources and reach to take EG Solar to the next level and deliver even more ambitious projects across the UK”.
PBE was advised by the corporate finance team at Dow Schofield Watts in the Midlands, led by Ryan Shields, Daniel Chouciño, and Zain Mahmood. Gateley Legal advised on legal matters, led by Oliver Harker; and transaction services support from Dow Schofield Watts London, led by Richard Hooper.
Ryan Shields, Partner at Dow Schofield Watts, said:
“Following a nationwide market review, Photon Energy and EG Solar were identified as standout opportunities aligned with PBE’s growth strategy. Both bring complementary strengths, creating valuable synergies that will enhance PBE’s commercial solar capabilities and growth potential”.
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