Scotland-based Aggreko has announced a £40 million ($51.8 million) deal to acquire German renewables and energy storage provide firm Younicos.
Aggreko, which is based in Glasgow, said it had set its sights on Younicos’ integrated battery storage technology, which could be deployed across Aggreko’s existing business to “lower the cost of energy, ensure reliability and reduce carbon emissions” for its customers.
Aggreko chief executive Chris Weston said as global energy markets “continue to decarbonise, decentralise 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”.
Stephen Prince, CEO of Younicos, said: “We are delighted to be joining with a market leading power provider in Aggreko. 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 greater stability at a lower economic and environmental cost,” Prince said.