Wedoany.com Report-Oct 14, Global energy storage owner-operator BW ESS has announced a strategic merger with UK-based Penso Power in a move designed to strengthen its position in the energy storage sector, both in the UK and internationally.
BW ESS and Penso Power have partnered on a number of recent battery storage deals, including a Sungrow BESS supply deal for the 350MW/1750MWh Hams Hall energy storage project in North Warwickshire and Great Britain’s first long-term tolling agreement for a single battery energy storage system (BESS) with Shell Energy Europe.
BW ESS was already the major stakeholder in Penso Power. This merger will see BW ESS acquire the remaining shares in the UK company. Penso Power’s founders will become BW ESS shareholders, while also being appointed to the senior management team.
BW ESS has over 1GWh of projects under construction in the UK, Sweden and Australia, working with strategic partners in these territories to grow a ‘multi-gigawatt development pipeline’. That pipeline, combined with Penso Power’s 2GW+ Australian and UK roster means the entity now holds approximately 5GW across its territories.
BW ESS is part of BW Group, a global maritime company founded in 1955 that cites shipping, floating infrastructure, deepwater oil and gas production and new sustainable technologies among its operations. The merger seeks to enhance the company’s energy storage capabilities and solidify its presence within the renewable energy market.
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