Aggreko to buy energy storage firm Younicos

Onsite power company Aggreko is to acquire energy storage firm Younicos for $51m.

The deal is a major development for Aggreko and will allow it to now combine storage with its distributed power solutions.

Younicos was founded in Germany in 2005 and is active in Europe and the US, with over 200 MW of installed storage systems. It’s chief executive Stephen Prince will now report directly to Aggreko chief Chris Weston.

Aggreko said the acquisition “strengthens our position as global energy markets continue to evolve and is in line with our strategy to invest in technology in order to reduce the cost of energy for our customers”.

It added that Younicos’ knowledge of batteries combined with proprietary control systems “enables the seamless integration and management of all forms of power, including thermal, renewable and battery energy resources, which is becoming critical in an increasingly distributed energy market”.

“Off grid and microgrid energy solutions are ever more integrating renewable generation, whilst industrial and commercial customers are also taking advantage of opportunities for renewable integration and demand-side management.”Aggreko to buy energy storage firm Younicos

Aggreko said that Younicos offered “compelling” capabilities: “The Younicos integration and control systems, combined with batteries, can be deployed across our existing business to lower the cost of energy, ensure reliability and reduce carbon emissions.”

Weston added: “As energy markets continue to decarbonize, decentralize and become more digital, the integration and control of multiple energy sources, including thermal and renewable, will be essential to ensure the provision of reliable power.

“As a pioneer of smart energy solutions based on battery storage, Younicos is at the forefront of this trend. Together we are a powerful combination; our scale, fleet and global presence, coupled with a smart energy capability, will allow us to open up new markets and provide our customers around the world with a reliable, cheaper and cleaner source of energy.”

Prince said that “batteries are an economically attractive and reliable asset which will play an increasing role as we transition from today’s energy market to the energy market of the future. Integration and management of multiple distributed energy sources will be necessary to optimise energy systems and deliver customers with greater stability at a lower economic and environmental cost.”à‚ 

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