Emma Foehringer Merchant, Green Tech Media
Microgrid company GI Energy announced this week that Shell New Energies would acquire a majority stake in the company for an undisclosed amount.
This marks Shell’s sixth investment or acquisition of a company working on the grid edge since the beginning of 2017. Last year, giants including Enel, Total, Engie and Centrica also joined the "grid edge shopping spree," according to GTM Grid Edge Research Manager Elta Kolo.
That “spree” has turned into a long-range business strategy in 2018. With another investment in thermal storage company Axiom Exergy announced Wednesday, Shell’s investments so far in 2018 already rival the number of acquisitions it made last year. According to Kolo, it's part of a concerted push from the giant over the past two years, after promising to invest in distributed energy cautiously.