Powin, Hitachi Energy ink alliance amid burgeoning demand for battery energy storage

Strengthening its position as a leader in renewables and battery energy storage systems (BESS), Hitachi Energy acquires eks Energy

Hitachi Energy has acquired a controlling stake in Seville, Spain based eks Energy, a leader in power electronics and energy management solutions for storage and renewables integration, from Powin LLC, a top global energy storage system provider. The investment also marks the establishment of a strategic partnership with Powin, who maintains a significant ownership stake in eks Energy. Citing an October report from BloombergNEF, Utility Dive’s Kavya Balaraman writes, “Global energy storage deployments are on track to hit 42 GW/99 GWh in 2023. The market is expected to see a 27% compound annual growth rate through 2030, with annual additions touching 110 GW/372 GWh.” By combining eks Energy’s power electronics and control solutions with its own complementary offerings, Hitachi Energy fortifies its position as a leading technology provider to the renewables and BESS markets.