Hitachi Energy has acquired a controlling stake in eks Energy to enhance its capabilities in battery energy storage solutions amidst rising global demand.

Target Information

Hitachi Energy has successfully acquired a controlling interest in eks Energy, a prominent supplier of power electronics and energy management solutions. eks Energy, headquartered in Seville, Spain, specializes in technology crucial for storage and integration of renewable energy sources. This acquisition was made from Powin LLC, a significant player in the energy storage market globally, which retains a considerable stake in eks Energy, paving the way for further collaboration between these two innovative companies.

Industry Overview in Spain

The energy industry in Spain is experiencing a transformative shift towards renewable sources, driven by both national policies and a global commitment to sustainability. Government initiatives aim to increase the share of renewables in the energy mix, leading to a sharp increase in investments in solar and wind energy. Spain is recognized as a leader in the generation of wind power and is rapidly expanding its solar energy capabilities.

The integration of energy storage systems, notably battery energy storage systems (BESS), is essential for managing the variability of renewable energy generation. The market for BESS in Spain is projected to grow significantly due to this integration requirem