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Hitachi Energy buys Spanish energy integrator in strategic deal

Hitachi Energy buys Spanish energy integrator in strategic deal

Business news |
By Nick Flaherty



Hitachi Energy, formerly Hitachi ABB Power Grids, as acquired a controlling stake of eks Energy in Spain from Powin LLC for an undisclosed sum.

The investment also marks the establishment of a strategic partnership with Powin, which retains a significant stake in eks Energy.

The global demand for battery energy storage systems (BESS) continues to surge and is expected to grow more than 20 percent per year through 20301. The deal combines eks Energy’s power electronics and advanced control capabilities with the automation, software and system integration offerings from Hitachi Energy for the renewables and BESS market.

The strategic partnership with Powin in Oregon, US, aims to develop power conversion products specifically designed for the next generation of energy storage systems. Initiatives include joint marketing activities, the integration of EKS’s technologies into Powin’s product roadmap and the inclusion of Powin’s batteries in Hitachi Energy systems at the edge of the energy system.

“This is an incredible opportunity for Powin and Hitachi Energy to partner on shaping the future of the PCS solution,” said Jeff Waters, CEO of Powin. “Powin has played a pivotal role in EKS’s remarkable success, facilitating their impressive growth, and advancing their global expansion. Hitachi Energy’s expertise in research and development and impressive grid-edge capabilities will accelerate EKS’ continued growth and aid our shared mission to reinvent the global energy storage industry with safe, reliable, and scalable solutions.”

“The market has made it clear that it needs and wants energy solutions powered by best-in-class power electronics integrated with control and digital capabilities,” said Massimo Danieli, Managing Director for Hitachi Energy Grid Automation Business Unit. “EKS has an impressive product deployment footprint in North America and Europe, and under Powin has further extended their global reach. With this significant addition to our portfolio, Hitachi Energy is ready to address the demands of the fast-growing global BESS market with speed and scale.”

“Hitachi Energy has been an innovative force in the BESS and microgrid space for more than 30 years, and this strategic acquisition demonstrates our continued commitment to deliver the most advanced and proven solutions for our customers,” said Danieli.

“This strategic investment marks a significant milestone in the energy storage industry, as it paves the way for Hitachi, Powin and eks Energy to align their strengths in exploring new opportunities on a global scale as well as an ability to better serve new and existing customers,” said Waters at Powin. 

“We are proud of what we have already developed with eks Energy, including one of the world’s largest battery projects in history, the Waratah Super Battery (WSB) where eks Energy’s unrivaled power conversion systems are able to meet the Australian grid operators’ high standards of performance. We look forward to continuing to work with eks Energy and Hitachi Energy to bring more projects like WSB to the world.”

The addition of eks Energy to the Hitachi Energy portfolio is part of the company’s 2030 strategic growth plan to strengthening its power grids core business.

www.hitachienergy.com

 

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