The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Powin buys power electronics & EMS provider EKS, expands renewables offering


Battery energy storage system integrator Powin has acquired EKS Energy, a provider of advanced power electronics and energy management solutions for energy storage and renewables.

Oregon-based Powin said the acquisition will enable it to deliver a complete AC energy storage platform that can interface with multiple generation assets, is capable of advanced control functionality to support microgrid applications and comply with the most challenging grid codes.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

EKS Energy describes itself as a designer, manufacturer and system integrator of advanced power electronics and energy management solutions (EMS) for distributed energy generation/storage and grid management.

It appears to either be a carve-out or a re-brand of the company GPTech (Greenpower Technologies Group), which was founded in Sevilla, Spain. EKS/GPTech has deployed battery storage systems in Puerto Rico, Hawaii, Massachusetts and Chile while GPTech had revenue of €45 million in 2021 (US$44.5 million), according to Spanish outlets.

GPTech was in the top 10 energy storage inverter suppliers in IHS Markit’s Energy Storage (PCS) – Market Overview report for 2020.

The deal adds EKS’ Power Conversion System and Power Plant Controller to Powin’s offering, while other new products include PV inverters, DC-to-DC converters and multi-port inverters, which maximise performance and profits for utility-scale solar-plus-storage projects.

In an interview with back in May, Powin CEO Geoff Brown agreed that providing a software package that covered renewable generation assets as well as energy storage was essential for system integrators.

When asked if the company would build these capabilities in-house or through acquisitions, at the time he said: “We’re evaluating all options but I would not necessarily agree that it’s a necessity to do it inorganically”.

In a press release announcing the acquisition, Brown said: “This landmark deal accelerates our mission to building the grid of the future by delivering safe, scalable and integrated storage solutions.”

Powin has gone through several changes in its financial and shareholding structure in the last few months. In June, it sold a minority stake to an investment arm of Samsung Group. Then, just a month later, it raised US$135 million from existing investors Trilantic, Energy Impact Partners and new investor GIC, the Singaporean sovereign wealth fund.

In project news, in August it entered into a partnership with a developer in Australia to deploy over 1.7GWh of its battery storage solutions across the country over a two-year period.

22 May 2024
London, UK
At the time of writing, Europe had had its most successful year in terms of Power Purchase Agreements (PPAs) with a record 7.8GW of renewable energy contracts signed. As we gather in May 2024 for the third edition of the Renewable Energy Revenues Summit, the energy landscape continues to evolve rapidly, influenced by the beating drum of climate change, volatility around power prices and the need to decarbonise power procurement as well as generation.
22 October 2024
New York, USA
Returning for its 11th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
18 March 2025
Austin, Texas
The Energy Storage Summit USA is the only place where you are guaranteed to meet all the most important investors, developers, IPPs, RTOs and ISOs, policymakers, utilities, energy buyers, service providers, consultancies and technology providers in one room, to ensure that your deals get done as efficiently as possible. Book your ticket today to join us in 2025!

Read Next

May 22, 2024
We hear from developers, IPPs and upstream battery sources about the US’ decision to massively hike tariffs on batteries and battery components from China.
May 22, 2024
EPRI, Southern Company and Storworks have completed testing of a concrete thermal energy storage pilot project at a gas plant in Alabama, US, claimed as the largest of its kind in the world.
May 21, 2024
A roundup of large-scale solar and storage news from across the US, with RWE buying three projects from Galehead Development, Origis Energy securing US$300 million for its pipeline and Appalachian Power launching an RFP for 1.1GW of renewables and storage.
May 21, 2024
Sungrow has agreed a partnership to deploy 160MW/760MWh of battery energy storage systems (BESS) and 165MW of PV inverters for a large off-grid project – AMAALA – in Saudi Arabia.
May 20, 2024
Startup Photon Vault Inc proposal in response to a request for information (RFI) from Microsoft, Google and Nucor, while unsuccessful, offered what it claimed could be a first for California.

Most Popular

Email Newsletter