French groups Eiffage and Entech have announced the creation of a joint venture dedicated to the production of electrical storage systems. This ambitious project is part of a strategy to meet the growing needs of the energy transition and support the development of renewable energies in France. The joint venture will focus on the construction and operation of battery storage units connected to the high-voltage grid. A market estimated at over a billion euros.
Objectives and governance
The new entity, 60% owned by Eiffage Energie Systèmes and 40% by Entech, will be formalized in the next two to three months. It will be governed on a parity basis, ensuring balanced management between the two partners. Eiffage Énergie Systèmes, a subsidiary of construction giant Eiffage, brings its expertise in electrical and power engineering, while Entech, founded in 2016, specializes in renewable energy power plants and storage systems, including batteries and hydrogen.
Electrical storage market context
The energy storage market is booming, especially with the expected increase in solar and wind power capacity. According to the International Energy Agency (IEA), global storage capacity will have to increase sixfold by 2030 to meet the objectives of the COP28 climate conference. Energy storage is crucial to managing the intermittent nature of renewable energies, which do not produce electricity continuously.
Management declarations
Ludovic Duplan, President of Eiffage Énergie Systèmes, said the partnership would enable Eiffage to gain a foothold in the emerging energy storage market, combining technical expertise and deployment power. Christopher Franquet, CEO and founder of Entech, added that this joint venture would play a major role in the development of energy storage, and would effectively meet the needs of renewable energy project developers.
Challenges and prospects
The joint venture aims to capture a significant share of the battery storage market, a key sector for the energy transition. Storage systems will help stabilize the power grid and maximize the use of renewable energies. By combining the strengths of Eiffage and Entech, the joint venture is positioned to become a key player in energy storage.
This strategic partnership between Eiffage and Entech marks an important step in the evolution of the energy sector in France. By meeting the growing need for energy storage, the joint venture will contribute to meeting climate targets and increasing renewable capacity. The collaboration between these two leading players underlines the importance of innovation and cooperation in the global energy transition.
