UAE-backed firm acquires Scots solar business – Daily Business

Good Energy has swooped on a Scottish company

An energy company with ties to a member of the United Arab Emirates’ ruling family has acquired a Scottish solar panel business.

Good Energy’s acquisition of Glasgow-based Low Energy Services (LES) is its fifth solar deal in 18 months.

LES is a commercial solar panel installer servicing Scotland and the North East of England 2018. 

Last year, Good Energy was acquired by Esyasoft, the UAE-linked smart grid technology company, in a deal close to £100 million.

It aims to support the expansion and scale of Good Energy’s services into new markets “and become a nationwide one-stop energy provider for green-minded customers”.

The LES deal follows the acquisitions of Empower Energy, Amelio Solar, Wessex Eco Energy and JPS Renewable Energy over the past 18 months, now all operating under the Good Energy brand.

Esyasoft is ultimately controlled by the Abu Dhabi International Holding Company, which is the investment firm chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the son of the United Arab Emirates’ founder, and part of Abu Dhabi’s ruling family.

Jason Lowey, director at Low Energy Services, added: “I’m incredibly proud of the Low Energy Services team and what we’ve built, and joining Good Energy Group feels like a fantastic next step for the company.”

Nigel Pocklington, chief executive of Good Energy, said: “Low Energy already has a strong and established presence across Scotland and northern England, and by bringing the business under the Good Energy brand, we can provide the financial backing and support needed to accelerate growth.”

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