The largest power generator in the United Kingdom acquires JBM Solar to strengthen solar capability of the nation. JBM is an independent and prominent solar and battery storage systems developer. Thus, to boost solar capability in UK RWE acquires JBM Solar.
RWE solar and battery capabilities are expected to diversify its United Kingdom portfolio, which is the main aim of this acquisition. This can be achieved with mature projects with a total capacity split between 3.8 GWac and 2.3 GWac battery storage. With secure grid and land connections most, projects are set up in central and southern England.
RWE strategies to grow and increase its green business in the Kingdom align with this acquisition. Also, the United Kingdom government aims to increase solar capacity and battery capacity of the country. With an already established strong position in United Kingdom wind power, the company plans to invest more than €50 billion approximately by 2030.
The investments will support their goal to grow their green business internationally and out of this huge investment the company plans to invest around €14 billion in the UK solar market.
CEO Unit Onshore Wind and Solar Europe & Australia of RWE Renewables, 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.”
Katja further added, “The combined development pipeline, one of the largest in the UK, provides tremendous opportunities for sustainable and value-accretive growth. The first projects 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.”
The company with its acquisition took over a pipeline project with a combined capacity of 6.1 GWac. RWE informed that many projects are ready to receive their final investment decisions plus they have secured the required planning approvals from relevant authorities. The first solar and battery storage projects are expected to be operational by the end of 2024 and RWE expects a commission of 450 MWac per year on average.
There will be significant growth in solar and battery power as the government targets a 5-fold increase in its solar capacity in the upcoming 13 years. And the aim for energy generation is to reach 70 GW from 14 GW in 2035. Plus, the storage expansion from 1.5GW to 6.5GW is expected in 2026.
JBM Solar was founded in 2010 with headquarters in London and has a team of 30 professionals. They are experts in the entire development process ranging from land acquisition to construction readiness.
On the other hand, RWE has a footprint with a combined capacity of more than 2.6 GW that consists of 33 onshore wind farms and 10 offshore. Since RWE is a key partner to the UK government to boost solar capability in UK RWE acquires JBM Solar. The company is also helping in achieving the target of offshore wind capacity of 50 GW by 2030 of the government. And thus, plans to grow its operations and developments in these projects.