Koch Industries subsidiary buys utility-scale solar installer DEPCOM Power
Koch Engineered Solutions (KES), a part of Koch Industries, has acquired solar energy EPC and O&M supplier DEPCOM Power.
“The acquisition of DEPCOM is a milestone for KES, adding expertise in renewable power generation to our extensive knowledge and capabilities that we have delivered to our global customer base,” said Don Brown, vice president of business development at KES. “DEPCOM has shown impressive growth in recent years and this acquisition reflects our confidence that the company will be a major player in the future of this industry. We look forward to supporting developers and operators of renewable generation facilities in providing end users with better access to cost-effective and reliable energy.”
DEPCOM’s solar portfolio includes approximately 5 GW of projects representing completed, in-construction and pre-construction phases in the United States.
“This acquisition is an important development for KES, as DEPCOM will enable our access to the fast-growing renewables market and strengthen our commitment to the electrical infrastructure market segment,” added Dave Dotson, president of KES. “The DEPCOM acquisition is consistent with KES’s vision to deliver innovative, mutually beneficial technical and service solutions for industrial value chains while transforming our business to enhance and create new industry platforms. Our complementary capabilities allow us to offer more opportunities to our customers seeking solutions in this increasingly important and competitive space.”
Johnnie Taul, CEO of DEPCOM, said: “By joining KES, we are joining forces and shared values, leveraging robust capabilities and centers of expertise that enhance our ability to improve our existing services and expand our offerings. to new service lines and markets, and together we will continue our mission to be the solution provider of choice for our customers in the energy industry.”
The name DEPCOM Power will remain. Stinson LLP served as legal counsel to KES on the transaction, while Greenberg Traurig LLP served as legal counsel to DEPCOM.
News item from DEPCOM