Getec buys stake in US solar developer Cloudbreak to enter American market

What's the deal? German energy services provider Getec EnergieDealroom has a profile for this one. Try Dealroom → has taken a stake in Cloudbreak Energy PartnersDealroom has a profile for this one. Try Dealroom →, a US developer of solar and storage projects. The move marks Getec's entry into the American market.

Why now? The deal follows a run of Getec expansion moves, including an acquisition to grow in southern Europe. The Cloudbreak stake pushes that growth beyond Europe for the first time.

What's the endgame? Getec is an energy contracting and services firm; Cloudbreak develops solar and storage projects. The stake gives Getec a foothold in US renewables development.

The signal: A European energy services provider crossing into the US points to how established players are chasing renewables growth in new markets rather than staying regional.

Read more: iz.de

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