Engie Takes Control Of Swiss Energy Solutions Provider Tiko

French utility Engie has purchased a majority stake in Swiss energy management systems provider Tiko Energy Solutions AG.

The investment was made through a capital increase at Tiko, Engie said on Thursday without revealing the exact size of the stake it has acquired. Swisscom and Repower will remain shareholders in Tiko. Swisscom confirmed separately that Engie has taken a majority stake in Tiko, thus marking the start of its expansion into new international markets.

Set up in 2012, Tiko provides intelligent energy management solutions for the residential sector through an Internet of Things (IoT) platform that connects different electrical equipment, including photovoltaic (PV) plants and batteries, into a virtual power plant. The company’s clients can also take part in projects aggregating connected homes and thus form a wider network that allows flexible energy consumption.

“The unique technology developed by Tiko will enable us to create new services for our residential customers and move towards the building of decentralized energy communities,” said Yves Le Gelard, chief digital officer of Engie.