At the beginning of 2018, AlsoEnergy was monitoring 6 GW of projects at over 20,000 sites. At the end of July, that number had jumped to 18 GW. Today, AlsoEnergy is adding another 6.6 GW of projects through its announced merger with Locus Energy, bringing it to 25 GW of solar, wind and energy storage in over 190,000 unique sites. There are only so many countries that have a total of 25 GW of renewable energy installed.
Per company statements, AlsoEnergy will lead the business, while Genscape – another owner of Locus Energy – will retain a minority equity stake in the new entity.
And while data becomes more and more important in the solar industry, it is notable that the deal leaves Genscape, a “provider of real-time data and intelligence for commodity and energy markets”, with access to the aggregated solar product data to make available to their own customers in future projects.
Historically, AlsoEnergy had been the a leading monitoring and power plant control systems provider in the US commercial market. With the company’s July merger with skytron, AlsoEnergy gained a stronger presence in the utility-scale sector in Europe. The Draker acquisition gave it a deeper batch of commercial & industrial projects, as Draker was not only a pioneer in the monitoring space, but also a leader in the 1 to 5 MW space. With this move Locus Energy is adding a deeper focus on the residential, commercial and utility solar markets in North America.