BW ESS, an energy storage company, has acquired the remaining shares of Penso Power, solidifying its position as the sole owner of the firm. Previously the largest shareholder, BW ESS will now integrate Penso Power’s founders into its senior management team, with the combined entity continuing operations under the BW ESS name.
BW ESS will handle all phases of project development, from planning and construction to long-term operations as an owner-operator. The company currently holds operational assets in Sweden and has over 1 GWh of projects under development in the UK, Sweden, and Australia. The acquisition expands its portfolio by incorporating Penso Power’s UK and Australian pipeline of over 2 GW, bringing the total pipeline to approximately 5 GW across various regions.
Earlier in 2024, BW ESS along with Gaw Capital Partners launched Valent Energy, an investment platform in Australia with over 1.6 GW of utility-scale battery projects, including three in Victoria and New South Wales.
