Global renewables firm RES will acquire Ingeteam’s Renewable Service division, making it the largest renewable energy support services provider in the world.
The company will employ 4,000 people, and operate across 23 countries, while retaining its UK headquarters.
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Following the acquisition, RES will have approximately 35GW of O&M services and asset management contracts worldwide.
Ingeteam’s disposal of its Renewable Service Division aligns with its broader strategy to prioritise development of power conversion technology.
Ingeteam will boost spending on R&D and explore opportunities for organic growth. As a result, Ingeteam will offer a more specialised set of solutions to its customers and support the wider electrification of society.
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.”
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Ingeteam CEO Adolfo Rebollo said, “Our decision to divest our O&M Renewable Service division enables Ingeteam to further focus and invest on our core business area of developing Power Conversion Technology, in line with our corporate strategy.
“The solid proposal we received from RES aligned with our vision for the business and values. We will continue supporting our clients towards the electrification of a sustainable future using our technology, including power electronics, control electronics and rotating machines.”
