Storage provider Senec acquired by German utility EnBW
German utility EnBW Energie Baden-Wuerttemberg has taken over domestic battery storage maker Deutsche Energieversorgung GmbH, better known as SENEC.
Following the transaction, the value of which was not disclosed, the acquired business will continue to operate as an independent company, keeping the name of the SENEC brand. Headquartered in Leipzig, SENEC has been active since 2009 and has since then sold more than 15,000 of its intelligent battery storage systems.
"With the Senec solutions, we are becoming a comprehensive supplier of the decentralised energy transition and with this strategic step we are expanding our own value-added chain as well as our competence in the field of intelligent energy management systems," said Timo Sillober, vice president sales, product management and digital at EnBW.
The acquisition is awaiting antitrust approval by the Federal Cartel Office, Germany's national competition regulator.
EnBW noted the deal will come into effect retrospectively, as of December 31, 2017.
