Susgen has sold its UK-based solar and battery storage development company JBM Solar to RWE.
Founded in 2012, JBM Solar currently has a pipeline of 6.1GW – 3.8GW of solar and 2.3GW of co-located battery projects. A number of these projects have already secured the necessary planning approvals from the relevant authorities. The first solar and battery storage projects could be operational as early as the end of 2024.
David Cramer, co-founder of JBM Solar added, “The sale marks the start of a new phase for this team, but also closes the door on a very successful chapter in our history. Partnering successfully with Susgen over the last five years and leaning on them for financial and strategic support has enabled JBM Solar to build an outstanding team and an unrivalled pipeline.”
Susgen will focus on identifying new partners and developing a 4GW pipeline under its standalone battery storage developer, Alcemi.
BNP Paribas acted as exclusive financial adviser to JBM solar. Linklaters, TLT and KPMG also advised on the sale process.