Innogy SE, a unit of German utility RWE, said it has agreed to acquire German solar power and battery specialist Belectric Solar & Battery Holding as it expands its interests in utility-scale solar PV and energy storage.
Innogy said it would pay a “high-double digit million euro” sum for the business and expects to wrap up the transaction at the start of 2017.
Belectric has built more than 280 large solar PV plants and roof-top systems with a combined generating capacity of more than 1.5GW and is focused on Europe, the Middle East, India, South America and the US.
Image: Belectric
RWE swoops on 1.5GW PV player
Belectric acquisition also adds battery storage to German's solar suite
By EBS