Greentech Lead U.K: Kedco, a renewable energy provider in
the UK and Ireland, has signed agreement to acquire Reforce Energy, a renewable
energy development company.
The deal will be finalized after both companies meet the
pre-conditions relating to the acquisition. The transaction, if completed, will
be satisfied by the issue of new Kedco ordinary shares and would not involve
cash consideration, according to bullbearings report.
Reforce is focused on small-scale renewable projects across various
technologies. The company’s key markets are the UK, Ireland and Northern
Ireland where it already has an active pipeline of over 60 projects with a
capacity of in excess of 40MWs at various stages of development.
“As recently reported to Kedco shareholders, we have been examining a
potential acquisition which we believe has an attractive and diverse portfolio
of complimentary projects as well as a strong and experienced management team,”
said Gerry Madden, chief executive of Kedco, in a statement.
“Kedco has a clear strategy to become one of the UK & Irelands largest
independent renewable energy companies,” Madden added. “This acquisition would
add both breadth to the pipeline and available technologies as well as depth to
the management team.”