In the rapidly developing energy sector, Battery Energy Storage Systems (BESS) are not just an innovation but a necessity. Recognising the transformative potential of BESS, Volvo Penta has acquired a minority stake in UtilityInnovation Group (UIG) to enable the development of resilient and reliable BESS solutions.
Strengthened by UIG's recent acquisition of Enicity, Volvo Penta and UIG say they are well-prepared to continue their contribution towards a more resilient energy future. As the world accelerates towards decarbonisation, both Electric Utilities and Large Energy Users (LEUs) face the intricate challenge of reducing carbon footprints and transitioning to cleaner and more diverse energy sources, all while maintaining reliable power supply.
Volvo Penta says it recognises the pivotal role that battery energy storage plays in tackling these challenges. Its legacy is said to be firmly rooted in the Volvo Group's tradition of engineering expertise and proficiency in heavy-duty applications.
As an independent supplier, Volvo Penta says it eagerly anticipates UIG's expansion into the European market. This move, the company says, not only broadens its scope of influence and knowledge but also underscores the importance of diverse regulatory expertise in this rapidly evolving sector.
UIG's acquisition of Enicity, adds regulatory expertise, utility-facing capabilities, and a robust network to the Volvo Penta-UIG partnership. "Our collaboration with UIG has greatly accelerated our journey, enabling us to extend our reach and influence in the energy sector,” says Hannes Norrgren, president Volvo Penta Industrial.
