Bloomberg News

Solar Industry M&A Constrained by Lack of Funding, REC CEO Says

July 19, 2012

Mergers and acquisitions in the solar energy industry are being constrained by a lack of funding, according to Renewable Energy Corp. ASA’s Chief Executive Officer, Ole Enger.

“With the financial status now in the solar industry, there aren’t many companies that can afford to spend money on mergers and that is holding it back,” he said in an interview in Oslo today.

While “there are always approaches” in terms of mergers and acquisitions, REC hasn’t seen anything “concrete,” Enger said.

To contact the reporter on this story: Josiane Kremer in Brussels at jkremer4@bloomberg.net

To contact the editor responsible for this story: Alastair Reed at areed12@bloomberg.net


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