Wärtsilä’s decision to launch a strategic review of its energy storage & optimisation (ES&O) business, including potential divestment, may be because of its dilutive effect on the broader company’s margins, an analyst told Energy-Storage.news.

Power technology firm Wärtsilä has initiated a strategic review of its energy storage and optimisation (ES&O) business, with “all potential alternatives considered” including divestment.

New study predicts the energy storage industry will grow to employ millions by 2050, fuelling a renewables jobs boom as fossil fuel industries shed millions of workers.

Investment giant Goldman Sachs will invest US$150 billion in renewables by 2025, including energy storage as a key part of this commitment, it has said.

E.ON, the German utility giant with 61GW of generation assets, has announced plans to split its business in two. The company will stake its future on renewables in a major restructuring, spinning off its conventional power generation business, in part as a response to the growth in distributed generation. Cosmin Laslau of Lux Research digs deeper.