NHOA said the fall was ‘entirely attributable to the industry-wide drop in system prices deriving from a welcome rapid degression in battery prices’, a trend Energy-Storage.news has reported on extensively (Premium article).

Including its EV charging solutions divisions Atlante and Free2move eSolutions (a joint venture with OEM Stellantis), group revenues were €124 million, up 7%, with Free2Move doubling its figure to €32 million. The group is in the process of being bought out and de-listed by its parent company Taiwan Cement Corporation (TCC), pending regulatory approval.

For NHOA Energy, EBITDA for the period was €4.4 million while net income was positive, and it increased its operational projects deployed by 344% to over 1GWh with another 1GWh under construction. It commissioned a 120MWh BESS for TCC in Taiwan in April, and won contracts for a 50MWh system in Italy and a 313MWh system in the UK.