Eiffage and Entech joint venture targets €1bn energy storage market

Photo: Eiffage

The alliance between Entech and Eiffage’s Énergie Systèmes arm aims to capture a market in France worth over €1 billion (US$1.1 billion).

Together, they will build, operate and maintain electricity storage facilities using batteries connected to the high-voltage network.

The joint venture’s target projects are regional or national battery storage facilities connected to the high-voltage (50 to 400 kV) network in mainland France.

The two partners are already involved in several of these projects, with upstream design work at a relatively advanced stage.

The joint venture will be owned 60% by Eiffage Énergie Systèmes and 40% by Entech, with governance equally shared. Its official creation is expected in two to three months, following consultation with employee representative bodies and approval by management bodies and regulators.

“With this partnership, Eiffage Énergie Systèmes is diving headlong into the emerging energy storage market,” said Ludovic Duplan, chairman of Eiffage Énergie Systèmes. “It’s a natural extension of our historical position as a leading player in the design and construction of renewable energy production units. The growing need for energy storage is a direct result of the massive increase in renewables in our energy mix. This joint venture will combine advanced technical expertise and powerful deployment capabilities to provide a comprehensive response to market needs.”

Entech’s chairman, CEO and founder, Christopher Franquet, added, “I am delighted that talks between our teams have led to the creation of this joint venture. We are united by common values and possess the complementary expertise to provide a robust response to the technological and operational needs associated with major storage projects. With our shared commitment and advanced market expertise, we are certain that this joint venture will play a major role in the booming energy storage sector and effectively meet the needs of businesses undertaking renewable energy projects. This initiative also provides a new boost to Entech’s growth and profitability.”

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