AGL has announced that it has entered agreements to acquire Epho and Solgen Energy Group, two of Australia’s largest commercial solar businesses.

The acquisitions build on AGL’s existing solar capabilities and will help AGL deliver a more tailored energy solution for businesses.

“These acquisitions are another step in AGL’s energy transition and a clear example of how we are responding to the accelerating market forces of customer demand, community expectation and the development of technology,” AGL chief executive and managing director Brett Redman says.

“With these acquisitions, we will have the systems and technologies in place to deliver more than 70MW of commercial solar each year, providing a combined revenue of over $150 million per annum.

“This part of the energy sector has seen significant growth over the last ten years, as businesses right across Australia seek out solar offerings to help them decarbonise, reduce costs and create sustainable operations.”

He adds that AGL can now provide more options, value and convenience to its business customer.

“Renewable acquisitions, such as Epho and Solgen, contribute to AGL’s progress toward achieving its Climate Statement commitments which includes a target of net zero emissions by 2050,” he says.

“AGL has the expertise and capabilities to deliver the best commercial energy solutions in the market and we are looking forward to working with customers right across the country.”

Established in 2008, Solgen operates a large wholesale distribution, engineering, procurement and construction (EPC) business, delivering more than 15,000 projects in the past decade.

Solgen Energy Group, CEO David Brown said AGL and Solgen Energy Group strategies are well aligned, creating an exciting opportunity to grow.

Epho, which was formed in 2014, specialises in the construction and maintenance of large-scale systems and has delivered more than 400 projects nationwide.

In addition, Epho has co-developed proprietary technology known as Bright Thinkers Power Station which allows large roof-top solar systems to be connected both behind-the-meter and also as an independent, market registered power station; creating a virtual power plant.