RES has completed the acquisition of Ingeteam’s renewable service division.
The deal expands RES’ operations to 10 new markets, up to 24, including the addition of Brazil, Mexico and Spain.
RES will couple its new scale with continued investment in its innovative technology-enabled ecosystems, data, analytics, machine learning and AI to further improve both maintenance and asset efficiency.
In addition, the completed deal marks the launch of RES’ global services business, which will be led by newly appointed CEO Juan Gutierrez, from May 2024.
RES serves over 40GW of operations and maintenance and Asset Management contracts globally, underscoring its commitment to enabling a zero carbon energy future.
RES CEO, Eduardo Medina said: “This deal secures RES’ status as a global powerhouse in enabling delivery of renewable energy solutions. The combination of Ingeteam’s and RES’ technological expertise and international reach will allow us to provide the full range of renewables services required as our core utilities and infrastructure markets continue to expand in pursuit of net zero targets.
“We expect that growth to accelerate and are very well positioned to provide support services across the full range of renewable energy technologies.”
Ingeteam CEO, Adolfo Rebollo, said: “Our decision to divest our O&M Renewable Services division enables Ingeteam to further focus and invest on our core business area of developing Power Conversion Technology, in line with our corporate strategy.
“The solid proposal we received from RES is aligned with our vision for the business and values. We will continue supporting our clients towards the electrification of a sustainable future using our technology, including power electronics, control electronics and rotating machines.”