Innogy acquired Belectric Solar & Battery
Post date: 09/01/2017 - 09:22
German Innogy SE completed the acquisition of German PV power and storage company Belectric Solar & Battery GmbH. The agreement was signed at the end of August 2016. According to Innogy, the purchase price was in a high double-digit million euro range.
»The acquisition takes Innogy right to the forefront as a global player on the market for utility-scale photovoltaic power plants and battery storage systems,« says the company´s CEO Peter Terium. »We were still lagging behind in the field of utility-scale photovoltaic power plants. We have now closed this gap.« The new subsidiary »Belectric Innogy« will implement large-scale photovoltaic projects »in Europe and our growth regions.«
Belectric will work together with Innogy to design, install and operate utility-scale photovoltaic power plants, and will continue to provide EPC (Engineering, Procurement, Construction) and O&M (Operation and Maintenance) services for third parties. In the past years, Belectric has built more than 280 utility-scale photovoltaic plants and roof-top systems around the world with a total installed capacity of more than 1.5 GW. Furthermore, the company is responsible for O&M services of solar plants with a total output capacity of more than 1.0 GW.