RWE Acquires UK Solar, Battery Storage System Developer
March 02 2023 - 6:15AM
Dow Jones News
By Giulia Petroni
RWE AG has acquired U.K. solar and battery storage systems
developer JBM Solar for an undisclosed sum as it aims to continue
growing its portfolio in the country.
The German energy company said it is taking over a pipeline with
a combined capacity of around 6.1 gigawatts, with most projects in
the central and southern regions of England.
"The acquisition underpins RWE's ambition to rigorously drive
the expansion of its renewables business in the U.K., one of RWE's
core markets," it said.
The first solar and battery storage projects could be
operational as early as the end of 2024, RWE said, adding that it
expects that around 450 megawatts per year will be
commissioned.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 02, 2023 06:00 ET (11:00 GMT)
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