AGL to acquire Epho and Solgen Energy Group from Anchorage Capital Partners for $85m.

AGL, a firm engaged in buying and selling of gas and electricity and related products and services, agreed to acquire two of Australia’s commercial solar businesses Epho and Solgen Energy Group from Anchorage Capital Partners, a private equity firm for $85m. “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. 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 $150m per annum. This part of the energy sector has seen significant growth over the last 10 years, as businesses right across Australia seek out solar offerings to help them decarbonise, reduce costs and create sustainable operations," Brett Redman, AGL CEO & Managing Director.