A joint venture between commercial and technical services firm, Aksiom Services Group, and private equity company, Ara Partners, has reportedly purchased Anesco for an undisclosed amount. The move comes as Anesco gears up to deliver what was described by CEO Mark Futyan as the next wave of subsidy-free, large-scale solar and energy storage.
As per the terms of the acquisition, Futyan, who joined Anesco in February 2020 from Centrica, will continue to lead the company. Meanwhile, principle funder and shareholder, Alcentra, will be exiting Anesco’s shareholder base after a six-year investment partnership.
It is to be noted that, having secured three new O&M contracts, comprising one with Blackfinch Energy, one with Downing LLP, and one with Foresight, Anesco has already expanded into Northern Ireland in 2021. Early in 2021, the firm also announced its collaboration with Gresham House for the development of a 200MW solar portfolio.
For the same, Anesco will be handling the EPC (Engineering, Procurement, and Construction). In addition, the company will be providing long-term O&M of the sites after energization, while Gresham House will be funding the portfolio.
For the record, the first subsidy-free solar farm in the United Kingdom was developed by Anesco in the year 2017. In August 2020, the farm was sold on to GRIDSERVE. So far, Anesco has constructed and developed more than 115 solar farms and energy storage assets. The company provides operations and maintenance (O&M) services with nearly 1.2GW of renewable assets under management.
According to Aksiom Group’s Co-founder, Luis Pais Correia, Anesco Group has designed and proven a high-value added and unique commercial strategy within the United Kingdom renewables market. The company has considerable potential for rapidly scaling in both the United Kingdom and elsewhere in Europe.
As per sources, Anesco’s acquisition by Aksiom comes after Ara’s takeover of Stockton-on-Tees-based px Group in April 2021. Ara is particularly looking for the acceleration of decarbonization by investing in and developing companies that have sustainability and energy efficiency at their heart.