Innogy SE is setting the course for future growth and will take over German solar and battery specialist Belectric Solar and Battery, part of the Belectric Group. Innogy and Belectric Holding GmbH have signed a share purchase agreement with a purchase price in a high double-digit million euro range. The transaction is subject to approval by the anti-trust authorities. Closing of the transaction is intended to take place in early 2017.
Belectric Solar and Battery is engaged in the design, installation, operation and maintenance of utility-scale photovoltaic plants. It is also active in the field of battery storage systems and develops among others turn-key large-scale battery storage solutions. Technology products are developed and manufactured at the company’s own plants in Germany and India.
With over 15 years of experience, Belectric has built more than 280 utility-scale photovoltaic plants and roof-top systems with a total installed capacity of more than 1.5 gigawatts peak (GWp). In addition, Belectric is responsible for the operation and maintenance of solar plants with a total output capacity of more than 1.0 GWp. The regional focus of this business area is on Europe, the growth markets of the MENA region as well as India, South America and USA.
Peter Terium, chief executive officer of RWE AG and Innogy SE: “With Innogy we are creating the innovative, decentralised and sustainable energy company of the future. The agreed acquisition of Belectric Solar & Battery fits this strategic orientation perfectly. Smart battery storage solutions make generating electricity from renewables both more efficient and more secure.”
Bernhard Beck, one of the pioneers of the German solar industry and executive chairman of Belectric Holding GmbH: “With Innogy, an established European energy company is acquiring our trail-blazing business for solar energy and battery solutions. Thereby, the focus is further on sustainable business development for the benefit of our customers and employees.”
Innogy SE is a subsidiary of RWE, which is temporarily called RWE International SE until the beginning of September 2016. The Innogy brand pools the company’s German and international renewables, retail, grid and infrastructure businesses.
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