Germany-based 1Komma5° has continued its planned AUD 100 million ($65 million) spending spree to secure a major market share in Australia’s renewable energy transition with the acquisition of Gold Coast-based Arkana Energy Group.
Philipp Schröder, CEO of 1Komma5°, said the transaction is the company’s fourth investment in Australia.
“This expansion in Australia is our biggest investment to date,” he said, noting that the acquisition more than doubles 1Komma5°’s presence in the Australian market. “Arkana fits perfectly with our ambitious growth targets and our mission to create a worldwide one-stop-shop for renewable energy solutions. With our fourth investment in Australia, we are well on our way to fighting for market leadership in 2024.”
Arkana Energy, established a decade ago and now operating in Queensland, New South Wales and Victoria, is one of the nation’s largest solar retailers for residential and business installations, with more than AUD 40 million of revenue last year.
Data from SunWiz shows Arkana Energy is among the top five companies in Australia for capacity of residential solar power systems installed in 2023, with approximately 20 MW deployed.
Arkana Managing Partner Luke Stronach said the company, with a team of 120 people, has completed more than 15,000 installations on both domestic and commercial premises across the country so far.
“Now is the perfect time to grow,” he said, alluding to the rapid growth in solar installations in Australia, with the overall installed capacity growing from 11.5 GW in 2019 to 34.2 GW in 2023.
Hamburg-based 1Komma5° made its first foray into the Australian market when it acquired home solar and battery installation company Natural Solar in late 2022. This was quickly followed by the acquisition of Solaray Energy and the recent purchase of Adelaide-based Kozco Energy Group.
As well as selling and installing solar panels and batteries, the company has also developed the Heartbeat energy management system. The system connects to and controls solar panels, batteries, smart meters, heat pumps and other electrical devices around the house, and co-ordinates the buying and selling of electricity to and from the grid.
The company claims that a solar-battery system optimized by Heartbeat can save as much as 120% off electricity bills.
Arkana Chief Executive Tyson Stronach said the central control system will pave the way for 1komma5° to shift from a PV and battery focused company to a true one-stop-shop for smart energy solutions.
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