SunEdison will buy Vivint Solar Inc and Acquires UK’s Mark Group
SunEdison Inc, the largest global renewable energy company said that it will buy Vivint Solar Inc, for about $2.2 billion. Vivint is a solar panel installer in the US and is the second largest in the nation. This acquisition will help in the expansion plans of SunEdison Inc in the residential solar market which is picking up rapidly.
Last year, after its IPO, the demand for the residential solar systems manufactured by Vivint has increased by many folds. The products permit the homeowners to lease the solar systems who do not have to buy them complete. The slide in the cost of equipments has also been helpful for the company.
In another instance, SunEdison, Inc. also announced that it has acquired U. K's Mark Group. It is a service energy solution company and also partner's installations. The company is based in Leicester, UK.
With the acquisition SunEdison will have a direct channel for sales in the UK for its residential and commercial energy efficient products. It will also fortify the company's presence in UK and enhance its position as a leader in global renewable energy industry.
Mark Group has a customer base of about two million in the UK market. The company offers heating systems, energy proficient solar systems along with insulation devices.
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