Leading UK renewable energy provider, Good Energy Group Plc，has announced a major step in its solar installation expansion strategy with an agreement to acquire Empower Energy Limited, a Hampshire-based solar installation company, for up to GBP 8 million (USD 10.3 million/EUR 9.5 million).
Empower Energy, based in Hampshire, specializes in commercial solar installations, focusing primarily on the South of England while servicing clients nationwide. For the fiscal year ending August 31, 2024, the company reported unaudited revenue of GBP 10.1 million and a profit before tax of GBP 1.8 million, reflecting its strong market presence.
This acquisition marks the fifth for Good Energy in the past two years, following the purchase of Lincolnshire-based Amelio, and underscores the company's strategy to broaden its reach and service capabilities in the solar sector. With this deal, Good Energy aims to expand its operational footprint in southern England and strengthen its overall renewable energy offerings.
The transaction, to be financed through Good Energy’s existing resources, includes an initial payment of GBP 7 million—comprising GBP 6.25 million in cash and the remainder in shares of Good Energy. A deferred consideration of GBP 1 million in cash is also set for payment in January 2026, contingent upon certain retention arrangements involving Empower’s founder and managing director, Ryan McShea.
“We are thrilled to welcome Empower Energy into the Good Energy family,” said Good Energy CEO Nigel Pocklington. “Their track record in commercial solar installations aligns perfectly with our goals to expand access to renewable energy solutions for businesses across the UK. This acquisition not only enhances our operational footprint but also brings additional expertise and capabilities that will be vital in our efforts to drive the UK’s clean energy transition.”
With the acquisition of Empower Energy, Good Energy is poised to further its vision of delivering reliable, affordable, and sustainable energy solutions to businesses across the nation, aligning with the UK’s broader renewable energy goals.
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