The Brazilian motor, electrical and power equipment maker WEG S.A. has acquired the energy storage business of U.S. company Northern Power Systems (NPS).
WEG said in a press release, the transaction includes the purchase of all of NPS’ energy storage assets, including its portfolio of energy storage system patents, knowhow and related materials including drawings, projects, specifications and software used in the design and maintenance of battery energy storage systems. The financial terms of the operation were not disclosed.
WEG and NPS started a technological partnership in 2013. Three years later, the Brazilian company acquired the wind business of the U.S. firm.
Manfred Peter Johann, MD of WEG Automation, said of the latest move: “It is a market with many growth opportunities for WEG and will bring even more synergy to our renewable energy solutions, such as wind and solar and also [our] electric traction business.”
WEG is active in Brazil’s large-scale PV project development sector.