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<a href="https://www.goodenergy.co.uk/" target="_blank" rel="noopener">Good Energy</a>, a renewable energy supplier and energy service provider, has acquired <a href="https://lowenergyservices.co.uk/" target="_blank" rel="noopener">Low Energy Services</a>, an installer of solar panels and battery storage systems for commercial and industrial customers since its inception in 2018. The company provides services in Scotland and the Northeast of England.
Following the acquisition, Low Energy Services will be integrated under the Good Energy brand, adding a skilled team and helping to extend Good Energy’s geographical footprint beyond England.
The deal follows Good Energy’s acquisitions of Empower Energy, Amelio Solar, Wessex Eco Energy, and JPS Renewable Energy over the past 18 months, all of which are now operating under the Good Energy brand.
Jason Lowey, director at Low Energy Services, said, “I’m incredibly proud of the Low Energy Services team and what we’ve built, and joining Good Energy Group feels like a fantastic next step for the company. We share a future-aligned approach focused on quality and customer trust at the center. Working as part of Good Energy Group strengthens our offering, giving our existing clients and partners access to greater scale, while enabling us to deliver even more impactful solutions for new customers across the U.K. from our base in Scotland.”
Last year, Good Energy was acquired by Esyasoft, a smart grid technology firm, to support the expansion of its services into new markets and to help establish it as a nationwide, one-stop energy provider for environmentally conscious customers.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, M&amp;A activity was 17% higher year-over-year in 2025, with 96 corporate M&amp;A transactions compared to 82 in 2024.
In February 2026, SunPower, a solar technology, services, and installation company, <a href="https://cms.mercomindia.com/sunpower-acquires-solar-panel-installer-cobalt-power-systems/" target="_blank" rel="noopener">closed</a> its $12 million all-equity acquisition of Cobalt Power Systems, a solar and energy storage systems installation company headquartered in Mountain View, California. The company is expected to continue to operate as a standalone subsidiary following the acquisition, with shared financial, HR, and administrative functions.

Good Energy Acquires Solar Panel Installer Low Energy Services

<a href="https://www.innovatium.co.uk/" target="_blank" rel="noopener">Innovatium Group</a>, a company specializing in long-duration energy storage technology, has secured £3 million (~$4 million) in funding to accelerate the deployment of its patented Liquid Air Energy Storage (LAES) system, PRISMA.
The funding was provided by Scottish National Investment Bank and Hitachi Industrial Equipment Systems (HIES). This is the first funding investment HIES has made in a Scottish company.
Innovatium aims to address the issues of intermittency and fluctuating supply associated with renewable energy generation by offering its patented long-duration and flexible energy storage solutions for energy-intensive businesses.
“Innovatium’s novel, patented technology is highly scalable and has the potential to significantly reduce industrial carbon emissions across a range of energy-intensive industries, including data centres where the rapid acceleration of AI has caused environmental concern,” said Ailsa Young, Investment Director, Scottish National Investment Bank.
PRISMA uses off-peak electricity to cool and liquefy compressed air. It then converts this stored, liquid energy back into compressed air to generate power when needed.
“This investment gives us the platform to scale up significantly, and we can now offer a much broader portfolio of solutions, creating new value for our customers in the U.K. and globally. We have never been better placed to deliver solutions to support the energy transition,&#8221; said Brian Jack, CEO of Innovatium Group.
In addition to investing, HIES will supply core compressor components for PRISMA and expand Innovatium’s sales through its Hitachi Global Air Power and HIES Europe divisions. This partnership is likely to open new commercial opportunities for the company in international markets.
According to Mercom’s recently released Q1 2025 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">Report</a> for Energy Storage, VC funding in the sector fell 8% year over year, with $1.1 billion raised in 18 deals, down from $1.2 billion raised in 23 deals during the same quarter last year.
In March 2024, phelas, a provider of long-duration energy storage solutions, <a href="https://cms.mercomindia.com/phelas-secures-4-5-million-seed-funding/" target="_blank" rel="noopener">secured</a> €4.1 million (~$4.5 million) in seed funding. The round was led by E44 Ventures, an Israel-leading climate tech fund, with participation from Axon Partners Group, Deutsche Telekom hubraum Fund, BNV Partners, other investors, and existing angel investors.

Liquid Air Energy Storage Company Innovatium Secures $4 Million

<a href="https://renewableconnections.co.uk/" target="_blank" rel="noopener">Renewable Connections</a>, a solar and battery storage project developer, and its partner European Energy UK announced the sale of two &#8220;shovel-ready&#8221; solar and battery storage projects totaling 121 MW in Scotland. EVC Kilt Limited, a part of EVC Energy, a solar and battery storage project developer, acquired the projects. EVC Energy is a joint venture between Elmya Energy and Valpre Capital launched in 2021.
Michael Hughes, Director at Renewable Connections, said: &#8220;Working closely with European Energy UK, we have built an outstanding record of developing and achieving consent for our renewable energy projects. We deliver highly innovative developments and take a responsible, community-led approach to plan and designing. Achieving an outstanding record of project consents to date, also means we deliver projects which appeal to investors such as EVC Energy and our existing co-development project partners. We are delighted to have closed this deal which marks another exciting chapter for Renewable Connections and its future.&#8221;
Adam Spearey, Director at European Energy UK, said: &#8220;It is pleasing to see investor interest in these projects. The joint decision to sell them was in part driven by the unprecedented success Renewable Connections has achieved in consenting solar and storage projects over the last 12 months, with over 500MW of projects consented under our prosperous partnership to date.&#8221;
The deal was supported by legal advisors Burges Salmon for Renewable Connections and European Energy UK and Foot Anstey on behalf of EVC Energy. Both projects, which Renewable Connections have developed in partnership with European Energy UK, were consented to in 2022.. Once built, the projects will generate enough clean green energy to power around 19,000 homes.
According to Mercom&#8217;s Q1 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2023-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, 27 solar M&amp;A transactions were recorded in Q1 2023 compared to 38 in Q4 2022 and 29 solar M&amp;A transactions in Q1 2022. Recently, Ethical Power Development, a renewable energy developer and investor and a part of the Ethical Power Group, has <a href="https://cms.mercomindia.com/ethical-power-development-acquires-public-power-solutions/" target="_blank" rel="noopener">acquired</a> the development business of Public Power Solutions (PPS), including a pipeline of solar and energy storage projects with a potential capacity of over 250 MW.

EVC Energy Acquires Solar and Battery Storage Projects in Scotland

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					</table>Flotation Energy (<a href="https://www.flotationenergy.com/" target="_blank" rel="noopener">FE</a>), a subsidiary of <a href="https://www.tepco.co.jp/en/hd/index-e.html" target="_blank" rel="noopener">TEPCO</a> Renewable Power based in Edinburgh, Scotland, and Norway-based <a href="https://www.vargronn.com/" target="_blank" rel="noopener">Vårgrønn</a>, have received exclusive rights from Crown Estate Scotland (<a href="https://www.crownestatescotland.com/" target="_blank" rel="noopener">CES</a>) to develop two floating offshore wind projects with a total capacity of up to 1.91 GW.
In the Targeted Oil and Gas Round, Flotation Energy and Vårgrønn won submarine lease rights from CES, which manages the UK seabed and other assets to support sustainable marine industries, to develop two projects &#8211; Green Volt and CENOS.
The projects are expected to provide a combined electricity supply of 9 billion kWh/year and reduce carbon dioxide emissions by 3.6 million tons/year.
Green Volt and CENOS will conduct wind condition and seafloor surveys, equipment design, and other activities to develop floating offshore wind farms.
Green Volt will start commercial operations in 2028, while CENOS is expected to begin in 2030.
Additionally, the agreement said they will contribute significantly to the offshore oil and gas sector&#8217;s goal of halving emissions by 2030.
The bidding round for the offshore wind power subsea lease rights in the Scottish waters of the United Kingdom is part of the Targeted Oil and Gas initiative aimed at promoting innovation and decarbonization of the oil and gas sector.
Masashi Nagasawa, the CEO of TEPCO Renewable Power, said it was the first project the company had been involved in from the bidding stage.
Nagasawa added that the company would leverage the knowledge and know-how gained from the development of the floating offshore wind farms to become a top runner in the industry and expand into the Japanese market.
The company said it remains committed to developing renewable energy sources in collaboration with its domestic and overseas group companies. Its goal is to achieve a sustainable and clean carbon-neutral society that leverages the benefits of nature.
Recently, Japan&#8217;s electric utility JERA <a href="https://www.mercomindia.com/jera-acquire-viryas-equity-wind-platform" target="_blank" rel="noopener">signed</a> a definitive agreement with Virya Energy to acquire 100% of the shares of Parkwind, Virya&#8217;s offshore wind energy platform, for €1.6 billion (~$1.7 billion).
The European Commission <a href="https://www.mercomindia.com/eu-to-fund-e2-billion-offshore-wind-projects" target="_blank" rel="noopener">approved</a> €2.1 billion (~$2.2 million) in funding to support offshore wind projects to help the EU meet the objectives under its Offshore Renewable Energy Storage and the European Green Deal.

scotland

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