February 02, 2007

Germany's Conergy buys into Canada
Fri 02 Feb 2007
Conergy AG, the German renewable energy giant, has purchased Edmonton, Alberta-based ETI Solar for an undisclosed amount. ETI was apparently the second-largest solar firm in Canada, something that was a revelation to me. The new Conergy division will sell solar, wind and bioenergy systems in Canada and presumably the United States. This deal, while it didn't garner much attention, shows that foreign companies may see the acquisition of Canadian companies as an inexpensive way of accessing markets in North America, particularly California but also Ontario and U.S. states with sizable purchase incentives.