After the expansion into European, Asian and African cement markets, Taiwan Cement Corp. (TCC), is ready to add another piece to its energy puzzle.

First Taiwan-Based Company to Enter The Battery And Energy Storage Market in Europe

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2021-07-06 11:30:03

After the expansion into European, Asian and African cement markets, Taiwan Cement Corp. (TCC), is ready to add another piece to its energy puzzle. The cement company had invested €132 million to acquire 60.48% shares and becoming the largest shareholder of French-based Engie Eps. With transactions to be completed in July, further cooperation plans will be announced in Europe.

Engie Eps is an energy storage system and electric vehicle charging infrastructure provider, located in Italy with shares publicly traded in France with proprietary technology in battery energy storage systems (BESS), charging infrastructure for electric vehicles (EVs), hydrogen power-to-power solutions and smart grid (microgrid) with projects spanning across Europe, America, Oceania and Africa. This year, Engie Eps formed a joint venture with the world’s fourth largest carmaker, Stellantis (a merged company of Fiat Chrysler Automobiles and the PSA Group), which owns 9% of the world’s market share with annual production of 7.70 million vehicles.

Stellantis announced in March on the plan to have all-electric or hybrid version of its vehicles in Europe by 2025 (around 3.38 million vehicles). What Stellantis’ goal to transform all its vehicles into all-electric or hybrid version means a total of 1.69 billion batteries are required each year after 2025. This also means there is a strong demand for charging and fast charging stations in Europe.