RWE, a German energy utility company, has acquired Alpha Solar, a Polish PV solar developer. With this transaction, RWE takes over a 3 GW solar project pipeline in Poland. The acquisition adds to RWE’s existing global development pipeline of 10 GW in solar projects.
The projects acquired are spread across Poland. Most projects are utility-scale in various stages of development. The maturity of projects ranges from early phase identified opportunities to ready-to-build projects.
Markus Krebber, CEO of RWE AG: “With the acquisition of Alpha Solar, we are expanding our presence in Poland, one of our focus markets, and are taking a leading market position in solar. The experienced development team joining RWE and the attractive project pipeline are a perfect match with our existing business. RWE is already one of the world’s leading renewable energy companies, and this transaction underlines our ambition to grow rapidly and sustainably.”
“This acquisition represents an excellent opportunity for RWE to diversify our global solar footprint while further enhancing our local capabilities and renewables project pipeline in Poland. The country offers good locations for solar plants. We warmly welcome our new colleagues at RWE. Together with the existing team, we are well positioned to implement this large-scale project pipeline in the years to come,” Katja Wünschel, said CEO of Onshore Wind and PV Europe & Australia, RWE Renewables.
In a recent transaction, Pivot Energy, a commercial and community solar project developer, recently acquired SGC Power, a Maryland-based community solar developer. SGC Power has been involved in 2.8 GW of solar projects since the company’s founding in 2008.
According to Mercom’s 1H and Q2 2022 Solar Funding and M&A Report, in 1H 2022, there were 53 solar M&A transactions compared to 54 transactions in 1H 2021. In 1H 2022, the top deal was by Macquarie Asset Management, a consortium with British Columbia Investment Management Corporation (BCI) and MEAG, which agreed to acquire Reden Solar from InfraVia Capital Partners and Eurazeo for an enterprise value of $2.72 billion.
