German utility RWE has acquired Polish developer Alpha Solar which has a solar project pipeline of nearly 3GW.
Maturity of the projects acquired range from early phase identified opportunities to ready-to-build with most of the solar projects of utility-scale size.
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Up until now, the German utility’s renewable presence in Poland was mostly in onshore and offshore wind, with a current capacity of 420MW.
However, the acquisition will strengthen the company’s expansion plans in Poland’s solar market, with plans to add 70MW during 2022 and 2023, on top of the acquired pipeline.
Markus Krebber, CEO of RWE, said: “With the acquisition of Alpha Solar, we are expanding our presence in Poland, one of our focus markets, and are taking a leading market position in solar. The experienced development team joining RWE and the attractive project pipeline are a perfect match with our existing business.”
Moreover, the acquisition of the development company comes with a team of 60 professionals that will work on the existing pipeline as well as develop new projects.
The German utility continues its expansion in Europe after it had started the construction of a 100MW solar PV pipeline in Spain earlier this week.
So far during the first half of the year, RWE has invested US$2 billion in the expansion of its renewables portfolio and expects this to reach more than US$5 billion by the end of the year.