Menlo Electric, a solar module distributor in Poland, has announced it is to be acquired by the 'largest' developer of solar PV farms in the country, R.Power that now adds distribution activities to its business portfolio.
R.Power did not disclose the purchase price, but shared that the investment aims to strengthen the position of the company and the group in the international market, also through the distribution activity of PV equipment.
Local news portal Gramwzielone quoted R.Power's President Przemek Pięta as defending the acquisition of a module supplier at a time when the world is facing 'rapidly changing prices and breaking logistic chains'.
With a distributor in its pocket, R.Power will be able to expand its international presence and 'better use access to capital and purchasing position'. Menlo Electric will purchase PV modules with a capacity of over 1 GW annually under the new ownership. R.Power recently entered the Romanian solar market for 100 MW capacity to be developed with a local company (see Poland's R.Power Enters Romanian Solar Market).
For Menlo Electric, having R.Power as its parent company will help it to expand its distribution activities in Poland and internationally, while also enabling it to expand its product portfolio, it added. Menlo Electric was till now owned by Edison Energia which itself is being taken over by Polenergia.
In October 2021, Menlo Electric launched a tender to secure 250 MW solar module supply for Europe (see 250 MW Solar Module Tender For Europe).