14/06/2013 - 13:59

Solco buys finance firms

14/06/2013 - 13:59

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Solco buys finance firms

Green energy firm Solco has established a national finance business, offering solar power products for lease through retailers and installers.

Solco announced today it would buy ZincFinance from Australian Finance Group, as well as the solar lease assets of Bright Generation Holdings in a separate transaction.

The businesses will be integrated into a new entity to be known as Solco Finance.

Solco said it would use wholesale networks to offer a range of commercial and solar power leasing projects.

Chief executive Anthony Coles said the new expertise was part of the company’s transformation from a pure solar products provider into an integrated energy retailer with finance, distribution and power operations.

“We are committed to changing the way people buy their power,” he said.

“Distributed generation, supported by the new economics of solar power, is now competitive with traditional sources of power in many parts of Australia.

“By bundling energy and finance services together, we want to be able to bring new products to new customers in a post solar-rebate Australian energy market.”

At 1:45PM, WST, Solco shares were steady at 1.3 cents.

 

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