source: Wabusinessnews.com
http://www.wabusinessnews.com.au/en-story.php?/1/46712/Euromicrocaps-acquires-100-of-Solar-Sales
Perth-based Euromicrocaps Ltd today announced its pooled development fund had increased its 50 per cent stake to 100 per cent in one of Australia’s longest established solar energy system suppliers, Solar Sales Pty Ltd. EMC Managing Director John Davidson said the financial and management support offered by EMC would greatly assist Solar Sales to capitalise on opportunities emerging in the renewable energy industry. “Solar Sales’ expansion opportunities complement EMC’s mandate to invest in successful companies operating environmentally sustainable businesses,” Mr Davidson said.
“The renewable energy sector is gaining significance in mainstream investment markets as socially conscious corporations join the effort to reduce Australia’s carbon dioxide emissions. “Renewable energy is often an overlooked investment class. The renewable energy development companies that EMC has backed have all proven to be highly successful businesses, providing an opportunity for solid growth and returns.” Mr Davidson added, “Since the initial $2.3 million capital raising in March 2005, EMC has grown its pooled development fund to over $4 million and we are seeking to increase our investment in the renewable energy sector five fold to over $20 million.”
Solar Sales is a major distributor of Sun Power, the world’s most efficient solar panels, and is also involved in the design of hybrid renewable energy systems that convert solar and wind energy into electricity. Solar Sales CEO Bob Blakiston said that there is vast scope for expanding the photovoltaic energy sector in Australia given it is one of the fastest growing energy sectors worldwide. “Solar photovoltaics have grown by 40 per cent globally over the past five years and in 2005, solar cell usage increased by 57 per cent in just one year,” Mr Blakiston said.
“Solar Sales is well positioned with first-to-market advantages as Australia’s uptake of this product is forecast to surge.” The increasing momentum driving the global warming debate has encouraged Australian state and Federal Governments, energy suppliers and consumers to adopt proactive initiatives that decrease carbon dioxide emissions. Federal and state government funding and commitment have further boosted the solar energy sector. “Both Solar Sales and EMC are participating in the Perth and Kalgoorlie Solar Cities consortium as part of the Federal Government’s $175.3 million renewable energy initiative,” Mr Davidson said. Each of the 11 short listed applicants have developed initiatives combining solar power, smart power meters, energy efficiency and more flexible electricity pricing to provide a future for the use of sustainable energy sources in urban locations.