RES has completed the acquisition of Ingeteam’s renewable service division in a deal that expands RES’ operations to 24 markets. RES serves over 40 GW of operations and maintenance (O&M) and asset management contracts globally, underscoring its commitment to enabling a zero-carbon energy future.
The deal adds to RES’ distinctive breadth of services to the solar, wind, BESS, biomass, hydro, and hydrogen industries and expands its global reach into 10 new markets with the addition of Brazil, Mexico, and Spain. RES will couple its new scale with continued investment in its technology-enabled ecosystems, data, analytics, machine learning, and AI to further improve both maintenance and asset efficiency. The deal creates a new leader in speed, delivery, and depth of renewables services, whilst driving down costs through scale advantages and inventory management.
“This deal secures RES’ status as a global powerhouse in enabling delivery of renewable energy solutions. The combination of Ingeteam’s and RES’ technological expertise and international reach will allow us to provide the full range of renewables services required as our core utilities and infrastructure markets continue to expand in pursuit of net zero targets. We expect that growth to accelerate and are very well positioned to provide support services across the full range of renewable energy technologies,” said RES CEO, Eduardo Medina.
The deal marks the launch of RES’ global services business, which will be led by newly appointed CEO Juan Gutiérrez, from May 2024.
“Our decision to divest our O&M renewable services 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 is 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,” commented Ingeteam CEO, Adolfo Rebollo.
RES is uniquely positioned to meet this challenge with over 40 years of experience in delivering and servicing complex projects. Now, in conjunction with Ingeteam’s service division RES is strongly positioned to unlock additional potential for technology driven solutions. Alongside its service provision, RES remains committed to playing its part in increasing the pace of renewable energy deployment and plans to bring 22 GW of new capacity online in the next five years from its pipeline, in addition to the 24 GW it has delivered to date.
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Energy Global's Winter 2023 issue
The Winter 2023 issue of Energy Global hosts an array of technical articles weather analysis, geothermal solutions, energy storage technology, and more. This issue also features a regional report looking at the future of renewables in North America, and a report from Théodore Reed-Martin, Editorial Assistant, Energy Global, on how Iceland utilises its unique geology for renewable energy.