Agreement to acquire Eneco reached by Mitsubishi-led consortium
A consortium featuring Mitsubishi and Japanese utility Chubu is set to buy out European energy major Eneco as Mitsubishi targets further European growth.
Articles tagged with: Mergers And Acquisitions
‘Time for a new chapter’ at redT as flow firm names Avalon chief as CEO designate
RedT has confirmed that Avalon chief executive Larry Zulch will lead the combined entity should its proposed merger complete, with Scott McGregor set to depart at the end of the year.
Feature
Editor's blog
A flow battery ‘competitive with the LG Chems and Samsungs of this world’
Some choice words from conversations with Scott McGregor, CEO at redT, Avalon Battery president and chief product officer Matt Harper and NEXTracker’s chief technology officer, Alex Au.
Solar-charged vanadium flow machine pre-qualifies for UK’s frequency response market
‘Flow batteries’ could provide frequency response in the UK for the first time ever, as a modestly sized solar-plus-storage system has been pre-qualified into National Grid’s dynamic firm frequency response (dFFR) market.
Flow players aim to create ‘global partnership’ in long duration energy storage
RedT has confirmed it has agreed outline terms for a reverse takeover of fellow vanadium redox flow battery firm Avalon, a move which the firm said would create a “leading player” in the energy storage market.
Feature
How the deal came together: Convergent CEO Johannes Ritterhausen
Following on from our look at some of the takeovers of promising or already-prolific energy storage companies in the last edition of PV Tech Power, here’s an exclusive interview with Convergent Energy + Power CEO Johannes Ritterhausen.
ESS developer Convergent Energy + Power changes hands for ‘several hundred million’ dollars
Infrastructure investment firm Energy Capital Partners has acquired prolific ‘mid-range’ energy storage project developer Convergent Energy + Power in a deal worth "several hundred million dollars".
ROUNDUP: Saft acquires Go Electric, Italy’s CM market dispute, Nidec ASI 2.5MWh Bahamas project
News in brief from around the world in energy storage.
Feature
Analysis
Corporate takeover: the end of independence? Part 1
The growth potential of energy storage has drawn interest from some of the biggest names in the power business and beyond. With the trend set to continue, Andy Colthorpe explores how three recent acquisition targets are faring under new ownership.
Feature
Editor's blog
Why Shell bought Sonnen: Value is in behind-the-meter potential
Perhaps the biggest indicator of the recognition of behind-the-meter storage so far this year has been the acquisition of Sonnen by oil major Shell. CEO Christoph Ostermann spoke to Andy Colthorpe about why home storage uptake could be on a worldwide series of inflection points.
Tesla acquires Maxwell Technologies, rival warns of ‘R&D hell’
Tesla will acquire Maxwell Technologies, it was announced this week, although it is not clear yet which of Maxwell’s product lines, including ultracapacitors, are of most interest to the Silicon Valley automaker and new energy company.
ROUNDUP: Parker-Hannifin PCS sale, Sunnova-Itochu tie-in, Greensmith launches latest GEMS software
News in brief from around the world in energy storage.
‘Strategic review’ leads to US$13.2 billion sell-off of Johnson Controls’ power business
Johnson Controls has sold off its power business, including its design and production of automotive batteries, to focus on management solutions for buildings and HVAC systems for industrial customers.
SolarEdge targets ‘one-stop-shop’ destination with battery manufacturer acquisition
An agreement to buy 75% of Korean battery manufacturer Kokam gives SolarEdge a level of vertical integration that could make the PV company a ‘one-stop-shop’ for customers, while SolarEdge could diversify into areas outside solar energy.
Macquarie-owned GIG buys Conergy
Developer and EPC firm Conergy Asia has been acquired by the Green Investment Group (GIG).
Leclanché’s main investor ups the ante with US$76m injection
Swiss vertically-integrated battery and energy storage system and equipment maker Leclanché has followed sonnen in netting a significant amount of investment to go into the second half of 2018, securing CHF75 million (US$76 million) from its main existing investor.
Shell invests in Sonnen to drive distributed energy aims forward
Shell has continued to scale-up its interest in distributed energy by participating in a €60 million (US$70.23 million) investment round by German battery storage firm sonnen.
RWE and E.On’s Innogy asset swap aims at ‘creating a leading European utility on renewables’
German energy giants E.On and RWE have reached an agreement on a major exchange of business activities, promising a significant shake-up of the duo’s energy interests.
ROUNDUP: ENGIE acquires EPS, E.On’s Texas Waves complete, Remote Chilean residential batteries
News in brief from around the world of energy storage.
ENGIE wraps acquired US energy storage, efficiency & sustainability players into parent brand
France-headquartered multinational utility ENGIE has followed up acquisitions in smart energy by incorporating three companies including commercial energy storage provider Green Charge into its parent brand, with the explicit aim of furthering its position in North American markets.
Lyon confirms sell-off for 800MWh energy storage, 545MW of PV across three Australia projects
Australian large-scale renewables investor Lyon Group has confirmed it is selling three projects under development, totalling 800MWh of energy storage and 545MW of PV generation capacity, in Queensland, Victoria and South Australia.
Ice storage manufacturer Calmac acquired by Ingersoll Rand subsidiary
Calmac, a provider of ice-creating thermal energy storage systems – and ice rinks – has been bought out by a subsidiary of major US manufacturer Ingersoll Rand.
Mercom: VCs invested US$480 million in battery energy storage in first half of 2017
The amount of energy storage investment that came from VC (venture capital) funding more than doubled in the first half of 2017 compared to last year, a new report has found.
Wärtsilä completes US$170 million Greensmith purchase
Nasdaq Helsinki-listed power company Wärtsilä’s acquisition of software specialist, system integrator and turnkey energy storage system provider Greensmith has been completed.
Younicos bought out for US$50 million
Energy storage provider and system integrator Younicos has been bought out by Aggreko, a power generation equipment and energy controls supplier.
E.On sells stake in Greensmith as software specialist is acquired by Wärtsilä
Finnish power equipment firm Wärtsilä has immediately followed up its launch of hybrid and standalone energy storage systems with the acquisition of system integrator and software specialist Greensmith Energy Management Systems (Greensmith).
ROUNDUP: SEPA’s utility top 10, NEC ES’ new CEO, Maxwell’s Nesscap takeover
News in brief from this week in energy storage around the world.
Mercom: Project funding for energy storage totalled US$820 million in 2016
Project funding for energy storage jumped to US$820 million in 2016 from just US$30 million in 2015, while Sonnen was revealed as the energy storage company to raise the most VC funding this year.
Enel swoops for energy storage software and project developer Demand Energy
US-based energy storage project developer and software company Demand Energy has been acquired by Italian utility company Enel.
Geothermal company Ormat buys Viridity Energy for US$35 million to enter storage market
Geothermal power and renewable energy developer Ormat Technologies has signalled its intent to join demand response and energy storage markets with the purchase of Viridity Energy.