RACV today announced it has acquired one of Victoria’s largest solar panel and battery installers, Gippsland Solar to bolster its end-to-end residential solar offerings.
Under the landmark agreement, RACV has acquired 100 per cent of Gippsland Solar and its related Gippsland Heating and Cooling business.
The purchase of Gippsland Solar will allow RACV to expand its current home solar business, RACV Solar, and provide more energy-efficient solutions for members and customers, including:
- Solar panels for schools and commercial properties,
- Off-grid solar power,
- Solar energy for micro-grids and communities,
- Energy management technology, and
- Solatube and Velux premium skylights.
Under the deal, the Latrobe Valley-based company’s residential solar business will be rebranded RACV Solar while the commercial business will retain the Gippsland Solar name.
Gippsland Solar’s founding owners, husband and wife team Andy and Kelly McCarthy, and more than 70 existing full-time staff will stay with the business through the transition period and beyond the change of ownership.
RACV Managing Director and Chief Executive Officer Neil Taylor said the acquisition will bring together one of Victoria's most exciting regional businesses with one of the state's oldest and most trusted.
“We’re thrilled that Gippsland Solar will become part of RACV. We’re looking forward to working alongside Andy, Kelly and the entire Gippsland Solar team to ensure the transition period is as smooth as possible for all parties, including our members and customers,” Mr Taylor said.
“This acquisition will see both RACV and Gippsland Solar benefitting from each other’s strengths. Together, we’ll be able to improve current solar offerings, scale quicker and make renewable and sustainable energy solutions accessible to more Victorians.”
Mr Taylor said the acquisition was another example of RACV’s ongoing commitment to sustainability.
“We know Victorians are concerned about the sustainability and cost-efficiency of the current energy system. In keeping with RACV’s mission to improve the lives of all Victorians, at the core of this acquisition is our commitment to help shape a more sustainable future for our members, customers and the state.”.
Gippsland Solar’s founder and owner Andy McCarthy said he and Kelly were thrilled to be partnering with RACV.
“Gippsland Solar’s reputation for innovation and exceptional customer service, combined with the solid foundations and trust of the RACV brand, will position us well to become Australia’s most trusted name in renewable energy,” Andy said.
“When we started Gippsland Solar 10 years ago, our entire business philosophy was built around listening to the needs of our customers. We couldn’t think of a better partner than with RACV to take us to the next level.”
The announcement comes on the back of RACV’s multi-million-dollar investment in energy-saving initiatives across many of its properties, including the ongoing roll-out of solar installations on its resorts in Victoria.
Earlier this year, RACV contracted Gippsland Solar to install almost 2,000 solar panels on its corporate offices in Noble Park and 1,645 solar panels on its Torquay resort.
RACV recently announced the switch to 100 per cent renewable energy at its Victorian clubs, resorts and office buildings after signing a five-year deal with Snowy Hydro’s energy retailer Red Energy. The agreement will combine power generated from solar panels installed on several of RACV’s properties.
Find out more about RACV Solar and watch our video on the announcement below.