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Younicos has been involved in a number of pioneering clean energy projects, including a system developed for the island of Graciosa in the Azores designed to lower the use of imported fossil fuel by combining battery storage with wind and solar power. Aggreko warned that it expected its new acquisition to be loss making in the short term. Younicos made an operating loss of £15m in 2016 on revenues of £7m.
However, the deal makes sense given the growing need for energy storage to help integrate intermittent renewable power, said Bruce Huber, managing partner at Alexa Capital, which advised Younicos on the deal.
“Aggreko will be a great platform for the Younicos business, since Aggreko has global distribution and a solid balance sheet to deliver decarbonised, decentralised, digital power solutions integrating renewables,” he said.
Read the full article here: https://www.ft.com/content/086fe32e-6014-11e7-8814-0ac7eb84e5f1