RWE to divest parts of solar EPC provider Belectric

German energy major RWE has entered into a transaction related to the divestment of parts of solar EPC service provider Belectric.
The deal is subject to regulatory clearances, RWE said in an email sent to PV Tech, adding that it is unable to provide further details due to confidentiality reasons.
Germany-headquartered Belectric was established in 2001 and has to date constructed more than 460 solar PV power plants with a combined capacity of 3,850MWp, according to the company’s website.
Having announced an ambition last year of operating and maintaining 3GW of solar plants globally, Belectric went on to sell its US O&M business in January.
For RWE, which completed the acquisition of Belectric Solar & Battery in early 2017, the divestment deal comes as the company today (15 November) revealed plans to increase its solar capacity from less than 1GW to 8GW by 2030.
As part of its Growing Green strategy, RWE has provided details of how the company will look by the end of the decade as it plans to spend an average of €5 billion (US$5.72 billion) gross each year for offshore and onshore wind, solar, batteries, flexible generation and hydrogen by 2030.
The company will invest €50 billion by 2030 to help it expand its green generation capacity to 50GW across Europe, North America and Asia-Pacific.
“We are fully committed to driving forward the climate-neutral transformation of industry and society,” said Markus Krebber, CEO at RWE.
Already involved in battery storage projects with an installed capacity of more than 600MW, RWE said this figure will grow to 3GW by 2030, by which time it also aims to build 2GW of electrolyser capacity.
Alongside the renewables ramp up, RWE is also planning more gas plants. With an installed capacity of 14GW, the company currently operates the second-largest gas-fired power station fleet in Europe. It said additional plants with a generation capacity of at least 2GW, which will have a clear decarbonisation roadmap, are planned.