- Butagaz has acquired a majority stake in two solar PV installers Soltea and Solewa.
- The company is looking to become a major player in the solar PV installation space, particularly for the agricultural, industrial and commercial sectors
French gas supplier Butagaz has acknowledged that it acquired a majority stake in two solar PV installers Soltea and Solewa. This investment is part of the gas supplier’s plans to diversify into the clean energy sector. The company is looking to become a major player in the solar PV installation space, particularly for the agricultural, industrial and commercial sectors.
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Butagaz believes that with its vast technical, commercial and customer support expertise, it has the capacity to scale up the installation of solar PV panels. Solewa has 75 employees and recorded €22 million ($26.8 million) of turnover in 2020, while Soltea employs just 25 people and recorded revenues of €5 million last year.
As part of the acquisitions, Butagaz will become a majority shareholder in the two companies with no lost jobs.