18/03/2010

AEG Power Solutions: Majority Stake in skytron energy

AEG Power Solutions strengthens its position as a solutions provider for megawatt utility-scale photovoltaic (PV) power plants with the purchase of a majority stake in skytron energy. Founded in 1996, Berlin-based skytron provides leading-edge metering, monitoring and supervision solutions to companies in engineering, procurement and construction (EPCs), as well as to independent power producers (IPPs). The technological leader in its field, skytron has been the recipient of a number of prestigious awards, including the highly coveted Intersolar Award. The amount of the transaction, which was paid in cash, is not being disclosed.

Commenting on the acquisition, Bruce Brock, Chief Executive Officer of AEG Power Solutions, said: “Combining skytron’s monitoring and supervision products with our power electronics and experienced global services network will allow us to offer PV power plant operators highly reliable technology and expertise for the integration, implementation, and operation of rugged solutions for greater system availability and higher energy yields.”

“This is the partnership we were looking for,” commented Martin Sauter, Chief Executive Officer of skytron energy. “We needed a strong industrial partner to support our growth and give us access to the global market. The alliance will enhance our access to funds to improve our leading-edge technology while allowing us to provide our customers with strong service in all the emerging PV markets.”

Skytron will be a strategic business area within AEG Power Solutions, and continue to act as an independent monitoring solutions provider. AEG PS will invest in skytron’s technology to deliver leading-edge solutions for current markets and customers, as well as address AEG PS’s many industrial vertical markets and the powering of the Smart Grid.