November 27 (Renewables Now) - French utility Engie SA (EPA:ENGI) has increased its ownership stake in UK distributed energy resource aggregator KiWi Power following an initial investment three years ago.
Engie has bought more KiWi Power shares from the business’ two co-founders, Yoav Zingher and Ziko Abram, according to a statement on Monday, which does not provide any additional details regarding the transaction.
When first investing in KiWi Power, Engie said that it recognises large potential for synergies between the two companies. At the time, they teamed up to provide demand response services and develop energy storage projects.
KiWi Power said on Monday that this latest share-purchase transaction marks the start of the next phase of growth for the UK firm.