The oil giant Shell has acquired sonnen, a German residential solar battery maker. Sonnen’s battery system generates energy by solar panels.
The transaction is in line with Shell’s push to expand its electricity business and continue its transition to low-carbon energy. It also follows an investment by Shell in May 2018 and means that, post regulatory approval and completion, sonnen will become a wholly owned subsidiary of Shell.
The agreement will accelerate the ability of the two companies to offer innovative integrated energy services and electric vehicle charging solutions, and the provision of grid services that are based on sonnen’s virtual battery pool.