1komma5° announces largest Australian acquisition yet – pv magazine Australia – pv magazine Australia

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German solar technology developer and retailer 1komma5° has continued to strengthen its presence in the Australian market with the acquisition of Queensland-based Arkana Energy Group.

March 1, 2024

1Komma5° has continued its planned $100 million (USD 65 million) spending spree to secure a major marketshare in Australia’s renewable energy transition, announcing that it has acquired Gold Coast-headquartered home solar and battery installation company Arkana Energy Group.

Philipp Schröder, Chief Executive Officer and co-founder of 1Komma5°, said the transaction is the company’s fourth investment in Australia and marks a significant step in advancing sustainable energy and aiming for market leadership.

“This expansion in Australia is our biggest investment to date,” he said, noting that the acquisition more than doubles 1Komma5°’s presence in the Australian market.

“Arkana fits perfectly with our ambitious growth targets and our mission to create a worldwide one-stop-shop for renewable energy solutions.”

“With our fourth investment in Australia, we are well on our way to fighting for market leadership in 2024.”

Arkana, established on the Gold Coast a decade ago and now operating in Queensland, New South Wales and Victoria, is one of the nation’s largest solar retailers for residential and business installations with a revenue of more than $40 million last year.

Data provided by industry analyst SunWiz shows Arkana is among the top five companies in Australia for capacity of residential solar power systems installed in 2023 with approximately 20 MW deployed.

Arkana Managing Partner Luke Stronach said the company, with a team of 120, has completed more than 15,000 installs on both domestic and commercial premises across the country so far.

“Now is the perfect time to grow,” he said, alluding to the rapid growth in solar installations in Australia, with the overall installed capacity growing from 11.5 GW in 2019 to 34.2 GW in 2023.

Hamburg-based 1Komma5° made its first foray into the Australian market when it acquired home solar and battery installation company Natural Solar in late 2022. This was quickly followed by the acquisition of Solaray Energy and the recent purchase of Adelaide-based Kozco Energy Group.

As well as selling and installing solar panels and batteries, the company has also developed the Heartbeat energy management system. The system connects to and controls solar panels, batteries, smart meters, heat pumps and other electrical devices around the house, and co-ordinates the buying and selling of electricity to and from the grid.

The company claims that a solar-battery system optimised by Heartbeat can save as much as 120% off electricity bills.

Arkana Chief Executive Tyson Stronach said the central control system will pave the way for 1komma5° to shift from a PV and battery focused company to a true one-stop-shop for smart energy solutions.

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