DNV, a digital solutions provider for managing risk and improving safety and asset performance, has signed a definitive agreement to acquire Clean Technology Partners (CTP), a grid consulting company based in Melbourne, Australia.
DNV aims to expand its market footprint in Australia and address the critical area of connecting generation projects to the country’s grid by utilizing CTP’S expertise in delivering over 1,500 advisory projects in the power grid, renewables, and storage technology space.
The addition of CTP’s team will help to enhance DNV’s renewable technical advisory services and strengthens its position to support the growing renewables sector.
“Part of our strategy is based on inorganic growth. We are constantly on the lookout for great companies to acquire and to collaborate with. In APAC, we want to strengthen our position in the power grids sector. Our acquisition of CTP is going to considerably change our position in that sector in Australia and will also significantly change the way we are able to add value to our customers in the whole region,” said Brice Le Gallo, Vice President, and Regional Director-Asia Pacific, Energy Systems at DNV.
With the Australian electricity system rapidly transitioning from coal, the need for power grid expansion is on a high to accommodate the ever-increasing supply of renewable energy, prevent power disruptions and reduce consumer costs.
“We have all worked hard over the years to refine our service offering for the continually evolving renewable energy, energy storage, and power systems sectors. Joining DNV makes so much sense to us on multiple fronts – from the project work we will be doing right through to our workplace culture. The scale, technical depth and ability of DNV to have an impact on the energy transition is something we are all very excited about,” said Lachlan Bateman, Managing Director, Clean Technology Partners.
Lachlan Bateman will serve as Head of Power Systems Planning for the Asia Pacific, and Matthew Forwood will be Head of Project Engineering and Due Diligence – Australia.
According to Mercom’s 1H and Q2 2022 Funding and M&A Report for Storage, Grid & Efficiency, there were 10 Smart Grid M&A transactions (two disclosed) in 1H 2022, compared to 11 transactions (all undisclosed) in 1H 2021.
Last Month, Moixa, a provider of distributed energy resources management software, recently announced that it was acquired by Lunar Energy, a company focusing on providing clean energy products to deliver home electrification at scale. Moixa’s investors ITOCHU and HONDA have now also become shareholders in Lunar.