Power

Koch enters renewables market after DEPCOM acquisition

Koch Engineered Solutions

Koch Engineered Solutions (KES), a unit of Koch Industries, announced this Wednesday that it entered the renewable energies market after the acquisition of DEPCOM Power Inc. DEPCOM is an Engineering, Procurement, and Construction company firmly positioned in the US.

Firstly, the acquisition is a milestone for Koch as it will market its entrance to a rapidly growing market. Dave Dotson, president of KES, said about the matter. “This acquisition is a major development for KES, as DEPCOM will enable our entry into the fast-growing renewables market, reinforcing our commitment to the electrical infrastructure market segment.”

DEPCOM, on the other hand, is a true leader in its field, having built utility-scale solar power plants and offering ongoing operations, maintenance, and refurbishment services. Indeed, it is one of the largest EPCs in the US. It provides distinctive customer-centric solutions, a full-service model, and in-house expertise and tools for solar development, optimization, and operations.

Moreover, DEPCOM’s portfolio includes approximately 5GW of projects representing completed, in-construction, and preconstruction stages across the US. Mr. Doston explains that the transaction reflects Koch’s growth vision. “Through our complementary capabilities, we can offer greater opportunities for our customers who are seeking solutions in this increasingly important and competitive space.”

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Koch ES to compete in the market with cost effectiveness

Furthermore, the renewables sector is growing rapidly all over the world and in the US. The US Energy Information Administration (EIA) estimates that solar electricity generation will increase from 3% of the US generation mix in 2020 to 14% by 2035.

As a result, this strategic acquisition marks KES’s entry into the renewables market; in which will compete with the cost-competitiveness of utility-scale solar on an unsubsidized basis development. Its objective would be to become an increasingly significant part of the generation mix over time; growing energy usage among businesses and households; continued consumer preference for renewable electricity.

Finally, Johnnie Taul, CEO of DEPCOM, said. “By joining KES, we are combining forces and shared values, and leveraging robust capabilities and knowledge centers that will accelerate our ability to enhance our existing services and expand our offerings into new service lines and markets.”

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