July 22, 2021: Taiwan Cement Corporation on July 20 confirmed it had completed the acquisition of a 60.48% stake in ENGIE EPS, the stationary storage and e-mobility arm of the Italian electric utility ENGIE.
ENGIE EPS has been renamed ‘NHOA’ — short for ‘New HOrizons Ahead’ — and ENGIE EPS CEO Carlalberto Guglielminotti has been appointed CEO of the new company.
Taiwan Cement paid a total of €132 million ($156.6 million) in cash for what is now NHOA.
“Through the transaction, the TCC group will be able to expand its international energy and energy storage footprint and to diversify its product offerings, as well as strengthen its technical capabilities in the energy storage field,” said TCC.
“Co-operation with NHOA can help TCC to become a comprehensive storage solution provider and enter the global markets for electric vehicle fast chargers, microgrids and hydrogen.”
ENGIE EPS was conceived in 2005 as Electro Power Systems and in 2013 Guglielminotti took over as CEO.