Ingenero extends to the residential market

Ingenero extends to the residential market

13th August 2009

Brisbane-based renewable energy company Ingenero Pty Ltd today announced its acquisition of residential solar hot water and solar PV company, SolarPay Pty Ltd. Ingenero is known for its expertise in the sale of long term Power Purchase Agreements (or power sales agreements) with no upfront costs to commercial, industrial and utility customers. Ingenero has recently ventured into the mass market with the sale and installation of PV systems to residential customers. The acquisition further increases Ingenero’s commitment to making solar energy accessible to all facets of the community, after it was named supplier for the Queensland Government Solar Schools Program.

SolarPay brings an exceptional amount of experience in the residential market with its product range of solar PV systems, solar hot water systems and hot water pumps. This experience is reflected in their participation in the Sunshine Coast 1000 Solar Roofs Project run by the Sunshine Coast Environmental Council.Ingenero’s CEO, Steve McRae said the acquisition will allow consumers from all over Australia to have access to SolarPay’s quality products and services at a competitive price.“Ingenero and SolarPay strongly believe in making renewable energy accessible to all Australian households,” he said. “The combined strength of the two companies will allow the new entity to provide a high quality product at an affordable price, making solar energy and hot water available to the widest range of potential customers,” he reflected. SolarPay founder Alexander Kohl said he believes the organisations are well aligned and will combine to deliver significant benefits to new and existing customers. “We are very excited by the opportunities that this partnership brings to both companies,” he said. “The acquisition will benefit SolarPay customers in a variety of ways – through improved buying power, a greater product range and additional installers, allowing us to help even more Australians go solar in the future,” he said. “We have always prided ourselves in delivering maximum benefit to our customers and this partnership will help us to continue to deliver on that promise.” While the companies are still in integration phase, both are focused on providing a leading product range that will see households, communities and small businesses experience smaller carbon footprints.