RWE Signs Contract to Acquire Belectric Solar & Battery

Essen & Kolitzheim, Germany

innogy and Belectric Holding GmbH have signed a share purchase agreement. The parties have agreed a purchase price in a high double-digit million euro 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.

The takeover of Belectric Solar & Battery instantly makes innogy an international player on the market for utility-scale photovoltaic power plants and battery storage technologies, which is entirely in line with innogy

Source: IWR Online, 29 Aug 2016