By being active in both O&M and EPC, the company can offer clients the best long-term solution: an optimal design of a new installation that integrates cost-efficient maintenance considerations and longevity in order to optimize the total cost of ownership. By offering 24/7 monitoring and maintenance services, Solora will furthermore ensure maximum availability and power output.
More recently the company successfully entered the French market on the basis of the same offering.
With the entry of the new shareholders, Solora is now taking its offering to the next level by integrating battery energy storage solutions (BESS). Unlike classical EPC players that do not offer O&M services, Solora will again be better placed to design the most efficient set-up for its clients. By integrating its expertise in monitoring a vast variety of existing production assets, Solora is better equipped to take into account considerations like down-time, peak capacity, intraday volatility and curtailment. As a one-stop-shop solutions provider Solora will ensure that generation (PV), consumption (incl. EV charging) and storage (BESS) are aligned to optimize both physical parameters (e.g. grid connection capacity) as well as financial ones (i.e. intra-day prices).
"There are many reasons for commercial and industrial clients to invest in renewable energy generation assets and related technologies and services. Some of these have been triggered by regulation like the CSRD or the Flemish PV obligation for large industrial energy consumers, but most of our clients see it as an opportunity. This ranges from decreasing their carbon footprint, to reducing their dependency and vulnerability to fossil fuels, over financial optimisation (intra-day electricity prices), to safeguarding their operations by securing a part of their supply at a fixed price”, Jan Van Der Haegen, co-founder of Solora. Junction Growth and BNP Paribas Fortis joining us as shareholders will allow us to further build our offering, and provide us with financial power to complement it with selected acquisitions if opportunities arise”, concludes Jan.
“At Solora we always strive to offer top notch technical solutions that can stand the test of time. That is why we have a lot of repeat clients and even framework agreements. Every project is looked at in detail with tailor-made solutions. We love technically complex projects that leverage on our longstanding PV know-how, that is now complemented with batteries and charging equipment. As a client, you also want an installer that is there for you for the long run, ideally 24/7. We were pleased to meet Junction and BNP Paribas Fortis Private Equity as knowledgeable investors, who understood this challenge and positioning from day one”, emphasizes Tim Weyens, co-founder of Solora.
“We are excited to be partnering with Solora. At Junction we invest in the enablers of the energy transition: European SMEs that make things happen. Ideally, the ones that can further accelerate themselves in order to push the transition forward and mitigate the ongoing climate challenges. Our first six investments have been a lot about enabling technology (often software) and we are pleased to complement this with a technical service company like Solora, according to Dirk Dewals, Managing Partner of Junction. Furthermore, it clearly puts Junction on the map for more mature companies. It also delivers on our promise to investors offering them exposure to a variety of risk profiles.”
“BNP Paribas Fortis has identified sustainable energy as one of its strategic priorities. By steering capital towards a low-carbon economy, we are ready to support the companies in their sustainable transition during the entire investment period, says Raf Moons, Head of BNP Paribas Fortis Private Equity. We also consider the energy transition and associated electrification with local renewable production, an excellent opportunity for the European industry to reduce its international energy dependence. It is always fulfilling to be able to support a Belgian company that is successfully expanding internationally. We look forward to working together with Junction, Jan & Tim as founders as well as the rest of the Solora team”.
The transaction was advised by CFI Corporate Finance, Four & Five Law and Peak Legal.
