Blue Elephant Energy (BEE), an independent power producer specializing in renewable energy, has acquired a majority stake in Solar215, an energy storage project developer.
This acquisition is expected to accelerate Solar215’s growth trajectory by gaining access to BEE’s market expertise, financial capabilities, and industry network.
“We are excited to join forces with Blue Elephant Energy. Their long-term commitment, strategic expertise, and shared vision for the energy transition make them the ideal partner to help us scale our platform and capture the immense opportunities ahead in battery storage,” said Friederike Rickers and Christian Bernau, Co-Founders of Solar215.
Founded in 2023, Solar215 is focused on battery energy storage system development. According to the company, it has built a BESS pipeline totaling 4.5 GW so far, with further growth potential.
“With strong regulatory tailwinds, a growing need for grid-balancing solutions and the country’s ambitious renewable energy targets, this partnership aligns perfectly with our long-term strategy to build a flexible and future-proof energy platform,” said Felix Goedhart, founder and CEO of BEE.
BEE develops, acquires, and operates solar and wind parks, focusing on Western and Central Europe and South America. The company says it has a renewable energy portfolio of 1,730 MW.
According to Mercom’s Annual and Q4 2024 Funding and M&A Report for Energy Storage and Smart Grid, corporate energy storage M&A activity increased, with 25 companies acquired in 2024 versus 15 in 2023.
In December, EQT, a private equity firm, announced the acquisition of a battery storage developer and operator, ju:niz Energy, from its founder, Dr. Franz Hauk.
