Shell is to acquire German battery storage manufacturer sonnen in a bid to accelerate its home energy services position. Sonnen is to sit as a wholly-owned subsidiary of Shell should the acquisition clear regulatory approvals, and the deal comes less than a year after Shell made an investment in the battery firm.

The companies said the deal stood to accelerate their respective abilities to provide integrated energy services and electric vehicle charging solutions to homes, while also benefitting the provision of grid services via sonnen’s virtual power plant platform.

Shell to Acquire Battery Firm Sonnen | Devamı>>>

The China Energy Storage Market is set to grow from its current market value of more than $700 million to over $6 billion by 2024; as reported in the latest study by Global Market Insights.

China’s energy storage market size is set to witness robust growth on account of a rapidly growing ancillary service industry coupled with ongoing investments towards smart-grid infrastructure development.

Furthermore, rising deployment of energy storage devices aimed at enhancing the grid stability as a countermeasure to the effects of extensive penetration of intermittent power from renewables will augment the industry size.

Energy Storage Market in China to Reach $6 Billion by 2024 | Devamı>>>