Renewable energy developer and operator RES announced the acquisition of Ingeteam Service, the renewable service division of Spanish renewable and storage equipment provider Ingeteam.
Founded in 1999, Ingeteam Service employs more than 1,600 people globally, and serves clients in more than 22 GW of renewable energy plants.
In a statement announcing the acquisition agreement, RES said that the transaction will make the company the largest renewable energy support services provider in the world, employing 4,000 people and with approximately 35 GW of O&M services and Asset Management contracts around the world.
According to RES, the acquisition comes ahead of significant expected growth over the next several years in the utilities and infrastructure market, and will position the company to accelerate the deployment of renewable projects, providing support services across solar, wind, BESS, biomass, green hydrogen, and hydropower.
RES’ CEO, Eduardo Medina, said:
“We have reached a critical moment for the energy transition. We need innovative solutions to accelerate the pace and scale of renewables build out and servicing. RES will play a key role in driving meaningful progress towards global Net Zero targets by unlocking significant synergies, while building on RES’ existing track-record and expertise across the whole spectrum of renewable technologies. Ingeteam’s services naturally complement RES’ operations and will allow RES to bring meaningful benefits to corporates and governments, and society as a whole.”