Renew Group-backed Excalon completed the acquisition of Emerald Power for £12.3m.

Renew Group-backed Excalon, an electrical utility service provider in UK, completed the acquisition of Emerald Power, a utilities service provider, for £12.3m. "This acquisition represents a strong strategic fit for the Group, enabling our expansion into the rapidly growing overhead line maintenance and repair market. It will bolster our existing well-established position in the regulated electricity distribution sector, with Excalon, and we are now increasingly well placed to capitalise on the significant levels of investment being directed into the market in support of the government's commitment to decarbonising the UK's electricity grid before 2030. I am delighted to welcome the highly regarded Emerald Power team into the Renew family and I look forward to updating the market on the further progress made in this exciting sector in due course," Paul Scott, Renew CEO.