Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTRWE to sell solar developer Belectric to CEZ
Belectric's Haslingfield Solar Farm in UK. Photo: Belectric UK. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
November 22 (Renewables Now) - German energy company RWE AG (ETR:RWE) is selling solar PV plant developer subsidiary Belectric to Czech CEZ Group, Germany's competition regulator said on Friday.
CEZ applied on November 11 for regulatory approval to take full ownership of Belectric, shows a notice by the Federal Cartel Office.
The announcement confirms a report by Reuters from earlier this month which suggested that the Essen-based energy major was weighing selling the solar plant builder.
Founded in 2001, Belectric is a 100% subsidiary of RWE Renewables and focuses on utility-scale solar power plants and energy storage systems. The company has built over 460 solar PV power plants with 3.85 GWp of installed capacity and has a further 685 MW under construction. It also provides maintenance services.
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