Innogy completes purchase of Belectric division

1/4/17, 8:00 AM -

The RWE subsidiary Innogy SE and the Belectric Group have completed the sale of the Belectric Solar & Battery division. At the end of August 2016, both companies signed a purchase and assignment agreement.

Innogy overtakes the PV ground-mount and large battery energy storage business of Belectric.

The agreed purchase price is therefore in the high double-digit million-euro range. Exact details were not disclosed.

Ground-mount PV and large battery storage

The acquisition of Belectric Solar & Battery makes Innogy an international provider for utility scale PV plants and large battery energy storage. "In ground-mounted solar power plants, we still had to catch up. We have now closed this gap, "says Peter Terium, Chairman of the Board of Innogy SE. In the future, Belectric will develop, construct and operate ground-mount solar power plants together with Innogy.

Belectric still offers own EPC and O&M services

As in the past, Belectric will continue to offer services in the fields of engineering, purchasing, construction (EPC) as well as operation and maintenance for third parties. The company will also be active in regions that are not part of the target markets of Innogy for its own project development. Belectric is currently responsible for the operation and maintenance of solar systems with a total capacity of more than one gigawatt of power. (NHP/HCN)

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