February 3, 2017 / 10:03 AM / 6 months ago

EnBW, Bosch to cooperate in battery technology

1 Min Read

A logo of German power supplier EnBW Energie Baden-Wuertemberg AG is pictured at the companies headquarters in Karlsruhe, Germany March 17, 2015.Ralph Orlowski/File Photo

FRANKFURT (Reuters) - German utility EnBW on Friday said it would cooperate with car supplier Bosch [ROBG.UL] on the development of batteries for the energy market, highlighting the importance of storage technology across industries.

In a first step, the companies will form a project company to build battery modules for EnBW's power plant in Heilbronn, Germany, aiming to stabilize the energy grid in times of demand swings, a major problem in times of increased supply from wind and solar.

No financial details were disclosed.

Reporting by Christoph Steitz; Editing by Victoria Bryan

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