EON, Sungevity to Sell Solar Panels to its Dutch Clients

EON SE, Germany’s biggest utility, will work with closely-held rooftop solar developer Sungevity Inc. to sell solar panels to its customers in the Netherlands.

Sungevity and E.ON Benelux will offer a co-branded solar system to customers, Oakland, California-based Sungevity said today in a statement. Last month, Sungevity bought Dutch solar installer Zonline, in which it previously held a minority stake, and renamed it Sungevity Netherlands.

The partnership will be the first of many with EON in Europe, the world’s largest rooftop solar market, Sungevity Chief Executive Officer Andrew Birch said in an interview.

The partnership with a utility in Europe, where Birch said the price of electricity from conventional power and solar sources is at parity in many markets, will help it avoid expensive marketing efforts, Birch said. “We can leapfrog that inefficient adoption curve and partner with utilities that have existing customers.”

Sungevity has sales and marketing relationships with the Sierra Club, home improvement store chain Lowe’s Cos Inc. and General Electric Co.

The company has raised more than $200 million, including from EON which took part in a funding round in April. About two-thirds of the company’s business is in the U.S., where sales doubled last year.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Andrew Hobbs, Iain Wilson

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