RWE advances UK solar and battery pipelines with JBM Solar acquisition

RWE, a German renewables developer, has acquired JBM Solar, an independent solar and co-located battery developers, to expand its solar and battery capabilities in the UK market.

The financial terms of the transaction were not disclosed.

With the acquisition of JBM Solar from London-based renewables investor Susgen, RWE anticipates to add additional solar and battery projects to its UK portfolio.

RWE has acquired a combined capacity of around 6.1 gigawatts (GWac) – 3.8 GWac of solar and 2.3 GWac of battery projects mostly located in the central and southern regions of England.

With 450 megawatts (MWac) of solar and battery storage facilities likely to be commissioned annually, the first solar and battery storage projects could produce green energy as early as the end of 2024.

Katja Wünschel — RWE Renewables Onshore Wind and Solar Europe and Australia CEO 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 projects could be delivering electricity as early as next year.”

RWE already has 10 offshore and 33 onshore wind farms in operation in the UK, with a collective capacity of over 2.6GW (pro-rata).

With £15 billion reserved for the UK, RWE anticipates to spend over €50bn gross by 2030 to increase its green core business globally.

The UK aims to more than quadruple its battery storage – from 1.5GW today to 6.5GW in 2026 and increase its solar capacity fivefold – from 14GW today to 70GW in 2035, with plans to increase its offshore wind capacity to 50GW by 2030.