Taiwan Cement Corp completes majority acquisition of Engie EPS

Taiwan Cement Corp has finalised the acquisition of a 60.48 per cent share of Italy-based energy storage company Engie EPS SA on 20 July 2021, at a price of EUR17.10 per share and a total investment of EUR132m. The new company name, New Horizons Ahead (NHOA), also came into effect.

According to Bloomberg New Energy Finance (BNEF), after the acquisition of NHOA, TCC will be in fourth place in global energy storage power output and become a major supplier of high-end electric vehicle (EV) charging infrastructure.

Through the acquisition, TCC Group will be the only group in Taiwan to have in-house R&D, manufacturing and managing capabilities of green energy, battery cell, energy storage and EV fast charge infrastructure.