Solarcentury
AcquiredFounded 1998 · 48 employees on LinkedIn · 8 known investors
Global solar company developing and building solar farms and rooftops; sold to Statkraft for GBP 117.7m in 2020.
Also known as Solarcentury Holdings Limited
Investors · 8
Also in the syndicate · 6
Company profile
researched Aug 2026Solarcentury was a solar energy company founded in the United Kingdom in 1998 by former oil geologist Jeremy Leggett, and described as the UK's largest solar company. Its early business centred on the design and supply of building-integrated photovoltaic (PV) and solar thermal products for commercial, residential and public-sector customers in the UK and other European countries, sold through a network of distributors and associate installers and in cooperation with large building contractors and property developers. Notable early installations included the Eden Project, the Vauxhall Cross bus terminal and a large vertical solar facade on the CIS Tower in Manchester.
The company later moved toward utility-scale development, constructing and operating unsubsidised solar farms in southern Europe, Latin America and Africa. In May 2017 it announced a shift away from the UK — then about 85% of its business — toward a pipeline of around £3 billion of projects in Latin America and Europe, and in April 2017 it acquired the 400MW Divisa project in Panama in partnership with Panama-based private equity firm ECOSolar. Solarcentury also had a residential arm that installed roughly 25,000 UK homes; this home-solar business was sold to Sweden's Svea Solar in 2020. In November 2020 Norwegian renewables company Statkraft acquired Solarcentury, and the Solarcentury brand was retired.
Founding story
The company was started in 1998 by Jeremy Leggett, a former oil geologist, who served as founder and CEO.
Business model
Solarcentury designed and supplied proprietary and third-party photovoltaic and solar thermal products and, later, developed, built and operated solar farms, including unsubsidised utility-scale projects. It also acquired project pipelines, such as the 400MW Divisa project in Panama.
Traction
Over 500 solar systems installed as of the mid-2000s and around 25,000 UK homes fitted over the company's lifetime; £168 million turnover in 2015-16; £14.4 million annual profit reported in 2019, an 860% increase year on year; a stated £3 billion project pipeline ambition in Latin America and Europe announced in 2017.
Latest developments
In 2020 Solarcentury sold its home-solar business to Svea Solar, and in November 2020 Statkraft announced it had acquired the company, taking full control; Reuters reported the transaction at about $151 million. Statkraft retired the Solarcentury brand, and the UK residential successor Svea Solar UK Ltd was dissolved in February 2024.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Described as the UK's largest solar company and a UK solar power pioneer, with an annual turnover of £168 million in 2015-16 and annual profits of £14.4 million reported in 2019.
Focus on building-integrated solar technologies alongside utility-scale development, and a stated purpose-driven model under which 5% of profits were donated to SolarAid, the charity it founded in 2006 to supply pay-as-you-go home solar in Africa.
Technology
Proprietary and third-party photovoltaic and solar thermal products, with an emphasis on building-integrated solar solutions such as rooftop systems and solar facades, and later ground-mounted solar farms.
Go-to-market
Sold through a network of distributors and associate installers, working with large building contractors and property developers, alongside direct development of utility-scale solar projects.
Commercial, residential and public-sector customers in the UK and other European countries, plus utility-scale solar markets in Latin America, southern Europe and Africa.
Geography
Headquartered in the UK and based in London, with early operations in the UK, France and Spain. Business later extended to southern Europe, Latin America (including Panama) and Africa; in 2017 the UK accounted for about 85% of its business before a planned international shift.
History
Founded in 1998 by Jeremy Leggett (a company statement dates its establishment to 1999). It founded the charity SolarAid in 2006 and the Solar4Schools initiative, and in 2006 was named the UK's Fastest Growing Renewable Energy Company by The Sunday Times Tech Track 100. It raised a €13.5 million financing round led by zouk ventures with Good Energies. Annual turnover was £168 million in 2015-16. In May 2017 it announced a strategic shift toward Latin America and Europe, and in April 2017 acquired a 400MW Panamanian pipeline. In 2019 it reported an eightfold rise in annual profit to £14.4 million. In 2020 it sold its home-solar business to Svea Solar and was acquired by Statkraft in November 2020.
Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 6
launches, deals, and filingsNorwegian renewables company Statkraft announced it had acquired Solarcentury, taking full control of the company. Wikipedia cites a purchase price of £118 million and a Reuters report of a $151 million deal.
$151M source ↗
Solarcentury sold its UK home-solar business, which had fitted around 25,000 homes, to Sweden's Svea Solar.
Solarcentury announced it was shifting focus away from the UK, then about 85% of its business, to pursue around £3 billion of projects in Latin America and Europe.
In partnership with Panama-based private equity firm ECOSolar, Solarcentury acquired the 400MW Divisa project in Panama, bolstering its Latin American pipeline.
Solarcentury Holdings Limited announced completion of a £13.5m/€13.5m round of financing to fund product development and international expansion. The round was led by zouk ventures and co-led by Good Energies, with Vantania Holdings Limited (advised by the Consensus Business Group), Foursome Investments and existing investors VantagePoint Venture Partners and Scottish and Southern Energy.
Solarcentury was named the UK's Fastest Growing Renewable Energy Company by The Sunday Times Tech Track 100.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 4
primary sources listed
- Solarcentury - Wikipediaen.wikipedia.org · web
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Solarcentury do?
- UK-founded solar company that developed, built and supplied solar power systems and solar farms internationally.
- Who are Solarcentury's investors?
- Solarcentury's investors include VantagePoint Capital Partners, Zouk Capital.