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Otovo Enters Letter Of Intent To Acquire Solar Service Provider
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Otovo, a home energy service provider whose operations include branded retail energy supply, announced that it has entered into a letter of intent to acquire EnergyAid, a provider of residential solar service and repair solutions in California, Arizona, and Nevada.
EnergyAid has built a solar service business focused on diagnostics, repair, maintenance, and system upgrades. The company has completed service jobs for approximately 60,000 homes and has approximately 8,000 active customers.
EnergyAid generated approximately $18.7 million in total revenue in 2025, up 20% from 2024, and recently launched a subscription service that has grown to approximately 2,800 members.
The purchase price represents an enterprise value of approximately USD $10 million, and the consideration is expected to be settled through a combination of cash and new shares in Otovo.
EnergyAid will be integrated into Otovo’s growing service business, "expanding its presence in the U.S. to three key markets through an established and popular service provider."
Otovo will work to convert EnergyAid’s extensive customer base to its subscription service
Otovo says that it, "delivers comprehensive home energy solutions through an integrated platform that combines electricity supply, professional service and maintenance, and smart grid optimization via a Virtual Power Plant."
The transaction is subject to definitive agreements, a financing condition and other standard closing conditions, including completion of due diligence and no material adverse changes, Otovo said
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March 2, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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