True Value Solar was an Australian renewable energy company headquartered in Melbourne, reviews: , , until 2013 when German-based M+W Group bought True Value's remaining 35 per cent shareholding. The core business of the company is as a sales company of rooftop solar power systems, with installation and perhaps responsibility for issues by contractors, operating in all major states in Australia (absent from the Northern Territory and Australian Capital Territory). Founded in 2009.
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ACCC issues
On 11 April 2016, the Australian Competition and Consumer Commission reported that energy retailer True Value Solar Pty Ltd (True Value Solar) ceased offering its customers incentives for publishing positive online reviews, following an investigation by the Australian Competition and Consumer Commission.
On 4 November 2011, the Australian Competition and Consumer Commission reported that True Value Solar Pty Ltd paid two infringement notices totalling $13,200 and provided a court enforceable undertaking to the Australian Competition and Consumer Commission regarding misleading advertising.
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Purchase By M+W Group
In March 2013, True Value Solar became fully owned by German-based M+W Group, after the engineering and construction firm bought True Value's remaining 35 per cent shareholding. M+W was already the majority shareholder in the rooftop solar specialist, having bought 65 per cent of the company in 2011.
In March 2011 German engineering firm M+W Group announced that it had purchased a majority stake in National Solar Group, the parent company of True Value Solar at the time.
Executive members
- Robert Gattereder, Chief Executive Officer of M+W Solar GmbH
Market Presence
The rooftop solar industry in Australia is one of the biggest in the world. With over 1 million residential systems installed throughout the country, the solar sales market is one of the most competitive. True Value Solar is among the top solar system sales companies in the country, like Infinite Energy, Euro Solar, Regen Power, Bradford Solar etc, with over A$ 40 million net average annual turnover.
Source of the article : Wikipedia
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