SSE Airtricity has agreed a deal to buy 40% of the Irish-based supplier of rooftop solar systems, Activ8 Solar Energies.
The existing Activ8 management team will remain in place, and SSE will have an option to acquire an additional 10% shareholding in Activ8 after two years.
The Co Monaghan-based Activ8, which will continue to trade under the same brand, employs around 40 people and supplies rooftop solar systems to home and business customers.
The acquisition, which is subject to approval by the Competition and Consumer Protection Commission, is expected to complete in the coming months.
Activ8 has been in business for more than ten years and has supplied and installed over 7,000 solar energy systems so far across the island of Ireland.
In 2016 Activ8 Solar Energies was selected by SSE Airtricity Energy Services as a preferred partner in the delivery of SEAI-supported domestic and community-based retrofit schemes.
Commenting on the deal, SSE Airtricity Director of Business Energy Stephen Gallagher said: "Activ8 has a very strong team which is the driving force behind the company’s success.
"Now, subject to approval by the Competition and Consumer Protection Commission, Activ8 and SSE Airtricity are poised to bring our combined strengths and unique offerings to a much-wider domestic and commercial customer base, including SSE Airtricity’s 750,000 energy supply customers across the island."
Activ8 Chief Executive Ciaran Marron said the "major investment by SSE Airtricity into our business represents an exciting step-forward for the growth of our business and service offering".
