Engie Advances ‘Energy Transition’ Plan With Major Stake in Electro Power Systems

Mar 12 19:03 2018 Print This Article

Engie last week made official its agreement to acquire a majority stake in Electro Power Systems, a French-based energy storage and microgrid company with projects in the Americas, Europe, Asia and Africa.  

The acquisition aligns with a strategy Engie announced in 2016 “to become leader of the world energy transition.” The EPS deal, originally announced in January, kicks off the last leg of Engie's three-year, $12.5 billion investment plan. 

"It's a full '3-D' vision. D as in 'decarbonization.' D as in 'decentralization.' And D as in ‘digitalization,’” Thierry Lepercq, executive vice president at Engie in charge of research, technology and innovation, told Greentech Media in early 2017. The EPS investment is the latest indication of this vision becoming a reality.

The purchase also reaffirms a several-year trend of large energy companies, especially in Europe, pouring money into customer energy management. 

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