The transaction provides RWE with a mature pipeline with a combined capacity of around 6.1GWac, split into 3.8GWac of solar and 2.3GWac of battery storage projects, most of which are located in the central and southern England
JBM Solar is a UK-based solar and battery storage developer. (Credit: RWE)
German renewable power producer RWE has acquired JBM Solar, a UK-based independent solar and battery storage systems developer, for an undisclosed sum.
Established in 2012, JBM Solar has a team of around 30 professionals with expertise across the entire development process in the solar sector.
The company was purchased from Susgen, a capital provider and partner to sustainable energy development companies.
The transaction provides RWE with a mature pipeline with a combined capacity of around 6.1GWac, split into 3.8GWac of solar and 2.3GWac of battery storage projects.
With additional solar and battery projects from JBM, the company is enabled to significantly expand, and diversify its solar and battery portfolio in the UK.
RWE Renewables Europe and Australia onshore wind and solar CEO Katja Wünschel said: “We are already well positioned in offshore and onshore wind in the UK. Now we are significantly strengthening our renewables business by adding this already very advanced solar and battery pipeline.
“The combined development pipeline, one of the largest in the UK, provides tremendous opportunities for sustainable and value-accretive growth. The first project could be delivering electricity as early as next year.
“I’m very pleased to welcome our new colleagues from JBM Solar and to jointly driving forward the green expansion of RWE in the UK.”
RWE said that the majority of the JBM’s projects are located in the central and southern regions of England, with grid connections and land procurement completed.
Also, most of them are ready for the final investment decision (FID), with necessary planning approvals from the relevant authorities in place.
The first solar and battery storage projects, commissioned with an average capacity of about 450MWac each, are expected to be operational by end of 2024.
According to the company, the UK is expected to see significant growth in solar and batteries, as the government aims to boost the solar capacity to 70GW in 2035, from the current 14GW.
The UK government is also planning to expand battery storage from the current 1.5GW to 6.5GW in 2026.