Germany-based module manufacturer Innotech Solar has acquired photovoltaic project development and investment company Tripod Energy AB of Stockholm, Sweden, in a deal that includes liquid assets as well as two 1 MW PV plants in Italy.
Tripod Energy was acquired from its management and its main investor, Sustainable Technologies Fund.
Innotech also says Norway-based Firda Investments has increased its investment in the company. Firda owner Geir Forre will join Innotech's board of directors.
‘During a challenging time for the PV industry, we are especially pleased to have been able to make the acquisition of Tripod, bring in new investment and further strengthen our board of directors,’ says Innotech CEO Jerry Stokes.