German developer Goldbeck Solar has reached an agreement with GP Joule to acquire the latter’s North American engineering, procurement and construction (EPC) business unit.
The transaction has resulted in Goldbeck becoming the sole shareholder of the two North American companies, GP Joule PV Canada and GP Joule PV USA.
With the acquisition, Goldbeck said it is strengthening its position in the Americas, having existing operations in Chile and Mexico.
The purchase includes the acquisition of the entire GP Joule EPC NA team as well as the use of the local brand for a limited period.
“Our new local team and their expertise are the basis for this strategic step.
“They understand the culture and the market specifics,” said Joachim Goldbeck, CEO of Goldbeck Solar Group.
“With our new colleagues, we have a strong foundation to master the opportunities and challenges of the North American market.
“The cultural fit of the companies was a fundamental criterion, and we are now looking forward to growing the business together in Canada and the USA.”
After investing in a portfolio of projects in Canada at the beginning of the year, Goldbeck demonstrated “strong interest” in designing and building solar plants in North America, as it has successfully done for over 20 years in Europe, Asia and South America.
“This comes at a perfect time”, states David Pichard, CEO of GP Joule EPC NA.
“Over the last 10 years, we have grown exponentially a team delivering world class assets in the utility scale market.
“Becoming part of the GOLDBECK SOLAR family brings immediate synergies in systems and supply chain, expansion in Operations and Maintenance services to continue providing the best value to our clients.”