Aggreko growing fast in Americas
21 August 2024
Power and temperature control specialist Aggreko has reported high growth in the Americas and Asia Pacific in the second quarter of the year, with sales up between 16% and 27% in the regions.
Revenues in North America rose by 16% to US$462 million in the three months to 30 June, driven by increased activity in petrochemicals and refining as well as building services and construction.
Aggreko’s new 250 kW/575 kWh battery energy storage system (BESS).
There was a 27% increase to $211 million in Latin America – driven by oil and gas, mining and utilities – while the 16% increase in Asia Pacific to $153 million was the result of data centre power demand in Japan, Indonesia and Thailand, along with mining in Australia and shipping-related work in Singapore.
Sales in Europe and the Middle East were up 5-6%, with Europe seeing revenues of $250 million, with growth in utilities and data centres offset by lower activity in building services and construction.
The company continues to de-risk its business and exit some countries in Africa, where revenues in the quarter fell by 9% to $94 million.
As previously announced, the company is selling its Eurasia business – including Russia – for $108 million to a newly formed concern created by its private equity owners TDR Capital and I Squared Capital Advisors. However, it continues to seek an external buyer.
Meanwhile, Aggreko in North America has expanded the range of battery energy storage systems (BESS) available for rent, adding 250kW/575kWh and 500kW/250kWh units to its existing 30kVA, 60kVA and 1MW models.
The mid-sized units can be plugged into an existing power system, operated in island mode, or used in a hybrid power solution, providing energy storage for commercial and industrial applications. The BESS models are containerised, so they are delivered with inverters, HVAC, fire protection, and auxiliary components.
Stephen Saal, vice president of sales and marketing at Aggreko, said the two new sizes would help customers meet strict emissions standards, improve efficiencies and reduce costs; “We’re committed to using our decades of engineering expertise to deliver greener solutions to power our customers’ energy transition, along their own paths and pace.”
In addition to the expanded BESS options, Aggreko’s ‘Greener Upgrades’ range in North America includes Tier 4F generators, natural gas generators and oil-free air compressors.
