in News Departments > FYI
print the content item

NEC Corp. has completed the previously announced acquisition of A123 Energy Solutions, the grid energy solutions and commercial energy systems business of A123 Systems, from China-based Wanxiang Group.

NEC says this acquisition, for approximately $100 million, strengthens the company's energy storage capability of its smart energy business. A123 Energy Solutions will now operate as NEC Energy Solutions Inc. (NECES), and as part of this acquisition, NECES and Wanxiang will also create a joint venture to develop a grid energy storage and commercial systems business in China.

“We are very pleased about the establishment of NEC Energy Solutions, and with it the full-scale entry into the grid energy storage and industrial batteries marketplace,” says Takemitsu Kunio, senior vice president of NEC Corp. “We will leverage the strengths of the NEC Group to enhance our offerings to support the renewable energy sector, the utility sector, the telecommunications sector and others.”





Trachte Inc._id1770
Latest Top Stories

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

Renewable NRG_id1934
BG 2015DblBox_id2032
Canwea_id1984
Hybrid Energy Innovations 2015