British Gas has acquired the remaining 81 per cent of Econergy for £6.5 million in cash, adding to its existing 19 per cent holding.
Econergy is a market leader in biomass heating, which uses renewable energy sources for combustion to produce heat.
Econergy offers a complete design, installation and energy services package to domestic properties, businesses and public sector customers. The acquisition supports British Gas’s strategy of helping customers to reduce their carbon emissions through a portfolio of renewable technologies.
British Gas said that the Government's confirmation of the levels of support for the Renewable Heat Incentive, announced last month, underpins the key growth opportunities for Econergy and biomass heating in the future.