Technology firm, Entech and Eiffage Énergie Systèmes, a leader in design, installation, and maintenance of systems and equipment for electrical, industrial, climate, and energy engineering have established a joint venture for the construction of energy storage systems for large-scale infrastructure projects.
The two companies signed an agreement to create a JV on Thursday (May 16), the target projects for which will include regional or national battery storage facilities connected to a high-voltage (50 to 400 kV) network in mainland France.
"With this partnership, Eiffage Énergie Systèmes is diving headlong into the emerging energy storage market," said Ludovic Duplan, Chairman of Eiffage Énergie Systèmes.
"The growing need for energy storage is a direct result of the massive increase in renewables in our energy mix. This joint venture will combine advanced technical expertise and powerful deployment capabilities to provide a comprehensive response to market needs."
Eiffage Énergie Systèmes is a leading player in the design and construction of renewable energy production units and has been involved with Entech for several of energy projects, with upstream design work at a relatively advanced stage.
"With our shared commitment and advanced market expertise, we are certain that this joint venture will play a major role in the booming energy storage sector and effectively meet the needs of businesses undertaking renewable energy projects," said Christopher Franquet, Entech's Chairman, CEO, and founder.
"This initiative also provides a new boost to Entech's growth and profitability."
The joint venture will be owned 60 percent by Eiffage Énergie Systèmes and 40 percent by Entech, with governance equally shared by the two entities. The official creation of the JV is expected in the next two to three months.
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