RWE, the UK’s largest power generator and one of the largest renewables developers, has significantly expanded its solar and battery capabilities by acquiring JBM Solar, a large independent developer of solar and battery storage systems. With this acquisition RWE reaffirms its UK strategy by continuing to grow and to diversify its UK portfolio by adding further solar and battery projects.
With the acquisition of JBM Solar, RWE takes over a mature pipeline with a combined capacity of around 6.1 gigawatts (GWac), split into 3.8 GWac of solar and 2.3 GWac of battery storage projects. Most of the projects are in the central and southern regions of England and a large proportion already have grid connections and land secured. A number of projects are ready for final investment decision and have secured the necessary planning approvals from the relevant authorities. This means that the first solar and battery storage projects could be operational as early as end of 2024. It is expected that on average about 450 megawatts (MWac) per year will be commissioned.
The acquisition underpins RWE’s ambition to rigorously drive the expansion of its renewables business in the United Kingdom, one of RWE’s core markets. RWE is a leading global player in renewables and expects to invest more than €50 billion gross by 2030 to grow its green core business internationally, with around £15 billion earmarked for the UK.
RWE is a German multinational energy company headquartered in Essen. It generates and trades electricity in Asia-Pacific, Europe and the United States. The company is the world’s number two in offshore wind power and Europe’s third largest company in renewable energy.
(Source: RWE)