German energy company RWE is selling solar EPC and O&M service provider Belectric to Czech utility CEZ, Germany’s federal competition authority has revealed.
RWE confirmed to PV Tech last week that it has entered into a transaction related to the divestment of parts of Belectric, but did not name the buyer.
A notice by Germany’s competition authority shows that CEZ applied on November 11 for approval to take full ownership of Belectric.
Acquired by RWE in 2017, Belectric has to date constructed more than 460 solar projects and currently monitors PV plants with a combined capacity of 2.1GWp. The company sold its US O&M business earlier this year.
CEZ declined to comment on the deal. Germany is one of the markets that the utility is focusing on as part of a clean energy expansion that will see it aim to build 1.5GW renewables by 2025 and 6GW by 2030. It is also looking to increase its energy storage capacity to 300MW by the end of the decade.
CEZ currently operates 13 power plants with a total capacity of 130MW in the Czech Republic and Bulgaria, according to the company’s website.