Sonnen Group, a German manufacturer of residential energy storage batteries, announced on June 2 that it will be acquiring 100% of Webatt Energia, a Spanish company that provides PV and energy storage solutions. Sonnen itself is a subsidiary of energy giant Shell. The acquisition is pending regulatory approval, and its value has yet to be disclosed. This announcement was first picked up by other renewable energy news outlets.
Sonnen and Webatt have been partners for about five years. Together, they have developed residential and commercial energy storage projects in Spain. Sonnen’s products are also being distributed by Webatt. Commenting on the acquisition, Oliver Koch, CEO of Sonnen, said that the Spanish PV market grew rapidly in 2021 and will continue to do so in the future due to the country’s abundant solar energy resource and surging demand. With Webatt’s assets, Sonnen is expected to raise its sales and expand its growth capacity.
Koch added that entering into new regional markets and market segments is the major part of his company’s growth strategy because widespread adoption of the company’s products and services will bring about a clean and affordable energy supply.
The transaction is scheduled for completion in the second quarter of 2022. Following the finalization of the transaction, Webatt will be operating as “Sonnen Spain”, but it will remain relatively the same as before organizationally. Sonnen now aims to expand its presence in the Spanish market for self-consumption energy systems. In its announcement about the acquisition, the company noted that PV-plus-storage systems will help insulate end users from the increasingly volatile electricity prices across Spain and the rest of Europe.