Tuesday 9 April 2019

ENGIE takes over Swiss energy solutions provider tiko

French utility ENGIE has announced it has increased its investments in Swiss energy solutions provider tiko.

It is now the controlling majority shareholder in tiko, which focuses on the control of domestic energy consumption, offering solutions for managing a wide range of electrical equipment in households such as water heaters, heat pumps, solar panels and battery storage.

Its internet of things (IoT) platform also enables customers to group all the electrical devices in a virtual power plant for participation in the management of fluctuations on the electricity network.

The investment in tiko - founded in 2012 as a joint venture by Swisscom and the Grisons-based energy company Repower - are part of ENGIE’s efforts to achieve its decentralisation and digitisation goals.

Yves Le Gélard, Chief Digital Officer of the ENGIE Group, said: “The unique technology developed by tiko will enable us to create new services for our residential customers and move towards the building of decentralised energy communities. It effectively completes our portfolios of load-balancing and storage solutions, which are so crucial to the achievement of the energy transition.”