Czech utility CEZ to acquire Belectric from RWE

Belectric monitors PV plants with a combined capacity of 2.1GWp. Image: Belectric.

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.

Read Next

September 27, 2022
Greek developer Mytilineos has completed third-party engineering, procurement and construction (EPC) contracts on a backlog of solar PV projects in Chile, Uzbekistan and Spain.
September 26, 2022
A subsidiary of Indian conglomerate Reliance Industries will invest US$12 million to acquire a 20% stake in Caelux Corporation, a California-based company working on perovskite solar technology.
September 26, 2022
A subsidiary of solar EPC Sterling and Wilson has signed a memorandum of understanding with the government of Nigeria to develop and construct a portfolio of PV and battery energy storage system (BESS) projects in the country.
September 21, 2022
Mortenson has partnered with Italian manufacturer Orteco to develop robotic equipment that can accelerate the construction of solar PV plants.
September 20, 2022
Spanish solar developer Solarpack has reached an agreement to acquire 100% of the shares of developer Solaer.
September 20, 2022
Private equity firm KKR and Hero Group have invested US$450 million in Indian independent power producer (IPP) Hero Future Energies (HFE) to support its renewables expansion.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)