Innogy completes purchase of Belectric Solar & Battery

Share on linkedin
LinkedIn
Share on twitter
Twitter
Share on reddit
Reddit
Share on facebook
Facebook
Share on email
Email

Belectric's Energy Buffer Unit. Image: Belectric.
German power company innogy SE - the renewables arm of utility RWE - has completed its purchase of Belectric Solar & Battery.

The deal was originally disclosed in August last year, however it was not completed until today.

Innogy said the deal would take the company “right to the forefront as global player” in the utility-scale solar and battery storage markets and expects Belectric to make a “significant contribution” towards its decentralised power ambitions.

“The acquisition of Belectric Solar & Battery is a perfect fit with innogy’s strategic orientation. Innogy is a pioneer and trailblazer for efficient, climate-friendly and intelligent energy solutions. However, we were still lagging behind in the field of utility-scale photovoltaic power plants. We’ve now closed this gap.

“With our new subsidiary Belectric innogy is now in an ideal position to successfully implement large-scale photovoltaic projects in Europe and our growth regions. Moreover, the combination of expertise in renewable energy and battery storage technology solutions will help us keep our energy system stable, despite the increasing influx of fluctuating renewables. This is another one of our key missions that we have committed ourselves to whole-heartedly at innogy,” said Peter Terium, CEO at innogy.

Belectric and innogy will combine to design, develop and operate utility-scale solar while also providing third-party EPC and O&M services in all active markets. Belectric’s energy storage offering at present comes in the form of its Energy Buffer Unit (EBU) – a high-capacity lead-acid battery system that is used in the primary frequency response market.

Read Next

January 5, 2022
The first lithium-ion battery cells have been produced at Northvolt’s new gigafactory in Sweden and a UK sodium-ion battery startup has been acquired by the solar subsidiary of India’s Reliance Industries.
December 9, 2021
South Korean energy company SK E&S is now the new owner of US utility-scale energy storage developer, owner and operator Key Capture Energy. 
December 8, 2021
Equinor has acquired a 45% stake in UK utility-scale energy storage and stability services developer Noriker Power.
December 3, 2021
Global investment manager Quinbrook Infrastructure Partners has acquired UK-based optimisation and trading platform Habitat Energy Limited.

Most Popular

Email Newsletter