L R AS Published on Sunday 14 November 2021 - n° 382 - Categories:miscellaneous financial, industrial strategy
RWE to consider selling Belectric
RWE is reportedly considering selling Belectric in order to streamline its renewable energy business.
Belectric recently sold its US photovoltaic business
and divested itself of the component manufacturer Jurchen Technology. It has an operational installed PV capacity of 3,856 MW, 2,140 MW under operational management and 729 MW under construction.
RWE's EBITDA for the first nine months is only slightly higher than in 2020 (at €2.4 billion). This is because EBITDA for onshore wind and solar fell from €373 million to €36 million, due to poor weather conditions in Texas and Central and Northern Europe
RWE has 3.8 GW of projects under construction that should be in operation by the end of 2022 and wants to have a portfolio of PV and wind projects of 13 GW by the end of 2022.
https://www.pv-magazine.com/2021/11/12/rwe-reportedly-considering-sale-of-belectric/
PV Magazine of 12 November 2021
Editor's note: the article does not indicate why Belectric sold its US PV business, even though power plants are central to RWE's development
