Wärtsilä, RCT Solutions form energy storage joint venture

Wärtsilä has agreed to establish a joint venture with German engineering company RCT Solutions, transferring its global energy storage business into a new entity owned equally by the two companies.

The companies said the joint venture could later be opened to additional investors. The transaction is expected to close in the third quarter, subject to regulatory approvals and other conditions, including the arrangement of financing.

According to Wärtsilä, energy storage is its smallest business segment. The division employs 480 people globally and generated net sales of €694 million ($803.5 million) in 2025, with profitability of 3.3%. The Finnish company said the assets contributed to the joint venture represent less than 5% of its total net assets.

Founded in 2012, RCT Solutions will contribute market expertise, operational capabilities, supply chain know-how, and potential vertical integration opportunities through an initiative to establish integrated battery storage manufacturing in the United States. An RCT-affiliated company has also served as a key supplier to Wärtsilä Energy Storage for several years.

Peter Fath, chief executive of RCT Solutions, said the partnership combines Wärtsilä’s technology, customer base, and project expertise with RCT’s engineering capabilities and manufacturing initiatives in the United States to strengthen the companies’ position in the rapidly evolving storage market.

Fath is set to become chief executive of the joint venture once the transaction closes. Following the agreement, Wärtsilä’s energy storage business will no longer be reported as a separate segment from the second quarter onward.

The companies said the joint venture will benefit from project guarantees already issued by Wärtsilä for ongoing projects. The business is expected to post losses this year due to a recent decline in order intake and restructuring costs. Wärtsilä estimated those losses at between €40 million and €50 million, depending on the timing of the transaction, but said the joint venture is expected to achieve positive results by the end of 2027.

From pv magazine Deutschland