RES, the independent renewable energy company, has announced the completion of its acquisition of Ingeteam's renewable service division. This move has effectively made RES the largest independent renewables services provider globally.
As a result of this acquisition, RES has managed to double the size of its business, expanding its reach across 24 markets. The deal has further diversified RES's service offerings, which now range across several sectors including solar, wind, BESS, biomass, hydro, and hydrogen.
Moreover, by leveraging its considerable scale alongside continuous technology investments, RES is leading the way in applying machine learning and artificial intelligence to enhance operation efficiency, asset maintenance, and, ultimately, renewable energy generation.
Australia, specifically, has seen RES advance to being one of the country's few entities capable of providing top-tier solutions for their clients. This covers the full spectrum from project development and construction management, through to operations and maintenance.
RES is already significantly active in the country; they have developed and managed the construction of wind and solar projects that produce more than 1GW of energy. This output is enough to cater to near a million homes annually via projects such as the Ararat Wind Farm, the Emerald Solar Farm, the Murra Warra Wind Farm Stages 1 & 2, the Dulacca Wind Farm, and the Lal Lal Wind Farm.
Ingeteam, the company absorbed by RES, is a market pioneer specialising in electrical engineering and the development of electrical equipment, motors, generators and frequency converters. With a broad geographical presence across rural Australia, Ingeteam has nurtured partnerships with numerous high-profile businesses.
This acquisition has provided RES with an even more extensive array of capabilities. It now manages £35bn in assets through over 40GW of global operations and maintenance and Asset Management contracts. This solidifies RES's commitment to facilitating the transition towards cleaner energy sources and caters to the escalating growth across its target utilities and infrastructure markets.
Commenting on the deal, Eduardo Medina, RES CEO, said that this acquisition "secures RES's status as a global powerhouse in enabling the delivery of renewable energy solutions". Matt Rebbeck, CEO of RES in Australia, called the acquisition "a significant milestone", adding, "as we continue to drive innovation and sustainability, this development reinforces our dedication to delivering unparalleled value and excellence to our clients".
As the world ramps up efforts towards a net-zero future, the renewable energy industry's role continues to gain prominence. With an impressive track record of 40 years in delivering and servicing intricate projects, RES, in partnership with Ingeteam's service division, is well-positioned to meet the ensuing challenges. The company intends to bring 22GW of new capacity online in the next five years, supplementing the 24GW it already has under its belt.