29 Aug '16, 9am

RWE innogy to acquire BELECTRIC Solar & Battery

RWE Innogy SE (Essen, Germany) will take over the German solar PV and battery specialist BELECTRIC Solar & Battery Holding GmbH. The company is part of the BELECTRIC Group. innogy and BELECTRIC Holding have signed a share purchase agreement. The parties have agreed on a purchase price in a high double-digit million EUR range. The transaction is subject to approval by the anti-trust authorities and reorganizational measures. Closing of the transaction is intended to take place in early 2017. Innogy SE is temporarily called RWE International SE until the beginning of September 2016. “With innogy we are creating the innovative, decentralised and sustainable energy company of the future. The agreed acquisition of BELECTRIC Solar & Battery fits this strategic orientation perfectly,“ comments Peter Terium, Chief Executive Officer of RWE AG and Innogy SE. “Smart battery storage s...

Full article: http://www.solarserver.com/solar-magazine/solar-news/curr...

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