- Ingeteam will continue to promote its activity in the development of energy conversion technology, supporting its customers and electrifying a sustainable future.
- The acquisition expands RES's capabilities, creating the world's largest independent provider of renewable energy services with multi-technology capabilities.
RES, the world's largest independent renewable energy company, has completed the acquisition of Ingeteam's renewable O&M services division. The agreement expands RES' operations to 24 markets and makes it the world's largest independent provider of renewable energy services.
Adolfo Rebollo, CEO of Ingeteam, stated: “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.”
The CEO of RES, Eduardo Medina, stated: “This agreement consolidates RES' status as a global reference in the supply of renewable energy solutions. The combination of the technological expertise and international reach of Ingeteam and RES will allow us to provide the full range of renewable energy services necessary for our main services and infrastructure markets to continue expanding in the energy transition. We expect growth to accelerate and are very well positioned to provide support services across the full range of renewable energy technologies.
The acquisition of Ingeteam O&M Services reinforces RES' presence in Spain and we are excited to operate in a market that offers so much potential and growth in renewable energy.”
Ingeteam and RES are in a unique position to face this new stage thanks to their extensive experience. Ingeteam has a history of more than 80 years in the electrical sector, designing and manufacturing electrical machines since 1940, and since 1972 also designing and manufacturing control electronics and power electronics solutions. For its part, RES has 40 years of experience in the delivery and maintenance of complex projects. Now, together with Ingeteam's O&M services division, RES is strongly positioned to unlock additional potential in technology solutions.