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.”




Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

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.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.

Renewable NRG_id1934
Canwea_id1984