WEG will become the sole owner of the Energy Storage System (ESS) business, including portfolio patents, projects and software, as well as the commercial and engineering team, WEG said.
"It is a market with many growth opportunities for WEG and will bring even more synergies to our renewable energy solutions, such as wind and solar," said WEG Automation managing director Manfred Peter Johann.
Following a three-year technology partnership from 2013, WEG acquired NPS’s wind turbine manufacturing business in late 2016.
In its Q3 report in October, WEG Group — which includes industrial electronic equipment; energy generation and transmission (incorporating the wind business); domestic motors; and paints and varnishes — reported a 32.9% year-on-year increase in net operating revenue.
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