Kedco to acquire Reforce Energy

Cork-based renewable energy group Kedco has announced that they are acquiring Reforce Energy Ltd as part of their plan to become one of the largest independent renewable energy companies in England and Ireland.

Kedco is to acquire the entire share capital of Reforce Energy and both parties are in the final stages of agreeing the legal contracts that will see the acquisition completed.

Gerry Madden, CEO of Kedco, said Kedco and its shareholders have been looking for acquisitions to diversify and complement their business.

“As recently reported to Kedco shareholders, we have been examining a potential acquisition which we believe has an attractive and diverse portfolio of complimentary projects as well as a strong and experienced management team,” said Mr Madden.

“We are delighted today to be able to announce the proposed acquisition of Reforce Energy Limited. Kedco has a clear strategy to become one of Britain and & Ireland's largest independent renewable energy companies.

“This acquisition would add both breadth to the pipeline and available technologies as well as depth to the management team.”

Reforce Energy is a renewable energy development company focused on small-scale renewable projects across various technologies. The company’s key markets are Britain, Ireland and the North, where it has an active pipeline of more than 60 projects with a capacity over 40MW at various stages of development.

Reforce Energy was founded by Steve Dalton and Tim O’Keeffe in 2011.

Mr Dalton was previously head of UIster Bank’s project finance business in Ireland with specific responsibility for the financing of renewable energy projects.

Tim O’Keeffe is an experienced senior executive with a successful track record spanning 30 years in many different industries including renewable energy, dairy and media.