IWB buys Swiss solar installer Kunz-Solartech

May 18 (Renewables Now) - Swiss utility IWB said on Wednesday it is acquiring local solar systems firm Kunz-Solartech GmbH to strengthen its position in the growing market for photovoltaic systems in Switzerland.

Financial details of the deal were not disclosed.

With a staff of 26, Kunz-Solartech is focused on designing and building photovoltaic systems for private customers and small and medium enterprises (SMEs). The company has already completed over 600 projects with a total capacity of around 10 MW.

The business will complement IWB’s subsidiary Planeco, which builds large and complex solar systems. IWB sees significant growth potential in the business with retail clients and SMEs, the company’s head of sales, Markus Balmer, commented in the statement.

The acquisition was announced soon after IWB disclosed plans to build own production capacity of at least 100 MW by 2030, increasing its solar power generation tenfold. This would enable IWB to produce about 120 GWh to 140 GWh of solar electricity annually in Switzerland.

In addition to its own facilities, IWB will also install 150 MW-200 MW of solar systems for private and business customers by 2030.