SunEdison Buys Mark Group to Sell to U.K. Homes, Businesses

SunEdison Inc. bought Mark Group, a U.K.- based energy-efficiency company, to help sell its solar products in Britain. No terms were given.

The acquisition provides a direct commercial and residential sales channel for SunEdison across England, the Maryland Heights, Missouri-based company said Tuesday in a statement. Mark Group, which has 2 million British customers, provides power-saving solar, heating and insulation systems.

The deal enables SunEdison to offer energy solutions and services to clients that augments “our existing installation partner network to meet the growing demand for solar in this market,” said Vikas Desai, senior vice president of residential and small commercial at SunEdison.

SunEdison, which on Monday bought rooftop panel installer Vivint Solar Inc. for $2.2 billion to grow its solar-energy offerings, in January secured funding to build 85.2 megawatts of solar in Britain. In April it raised 84.6 million pounds ($131.5 million) for a portfolio of U.K. sun-powered plants as part of its plan to install about 300 megawatts of rooftop solar in three to five years.

The Vivint Solar transaction will help boost SunEdison’s 2016 installations by about 50 percent to 4,200 megawatts to 4,500 megawatts.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE