Solar Age Oy, a growing solar power solutions provider based in Kaarina and Espoo, Finland, was acquired by the German clean energy group 1KOMMA5°. The strong new owner brings Solar Age more resources for growth in Finland.
1KOMMA5°, part-owned by Porsche Ventures, has acquired a majority stake in Solar Age from its founders Ricardo Pacheco and brothers Pasi and Petri Seppälä.
Pacheco, the company’s CEO, says the new ownership will enable faster delivery times and improved service development.
“In the future, we will be able to offer all the main solar energy solutions from a single counter and still supply customers with the highest quality equipment in the industry,” says Pacheco, referring to the component shortages and logistics problems following the pandemic.
Solar Age will also bring 1KOMMA5°’s advanced power management service (Heartbeat) to Finland in 2023. The service will help reduce electricity bills by directing electricity use to the cheapest hours of the exchange and generation and sales to the most expensive hours.
According to Gunnar Jönsson, the company’s Nordic CEO, the company wants to be a leading player in the transformation of European households towards renewable energy.
“We will do this by helping them to switch to carbon neutral electricity, optimise their use of it and transfer their excess electricity to the international grid.”
1KOMMA5° aims for market leadership in Finland
1KOMMA5° aims to become the market leader in the Finnish solar panel market by the end of next year. The fast-growing Solar Age will play an important role in this. Jönsson says that in addition to this, the company will spend €30 million on acquisitions in Finland over the next 12 months.
By the end of this year, Solar Age has installed more than 2,000 systems, mainly in Southwest Finland and Uusimaa. The company’s turnover will rise to over €9 million this year, up from €2.6 million last year.
Despite the change in ownership, Solar Age will remain a Finnish company, although 1KOMMA5° will be reflected in the company’s brand.