RWE acquires solar & storage developer JBM Solar

UK power company RWE has expanded its solar and energy storage capabilities by acquiring JBM Solar, a developer of solar and battery storage systems.

With the acquisition, RWE takes over a pipeline with a combined capacity of around 6.1GW (GWac), split into 3.8 GW of solar and 2.3 GW of battery storage projects.

Most of the projects are in the central and southern regions of England and a “large proportion” already have grid connections and land secured, according to RWE. A number of projects are ready for final investment decision and have secured the necessary planning approvals from the relevant authorities. This means that the first solar and battery storage projects could be operational as early as the end of 2024. It is expected that on average about 450 megawatts (MWac) per year will be commissioned.

London-headquartered JBM Solar, founded in 2012, has a team of around 30 professionals.

The UK is expected to see significant growth in solar and batteries, with the government targeting a five-fold increase in solar capacity over the next 13 years – from 14 GW today to 70 GW in 2035. The government also has ambitious goals for the expansion of battery storage: its capacity is expected to more than quadruple within four years – from 1.5 GW today to 6.5 GW in 2026.

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