The sale of JBM Solar to RWE was announced by Susgen. With a pipeline of 6.1 gigawatts (GWac), divided into 3.8 GWac of solar projects and 2.3 GWac of co-located battery storage projects, JBM Solar is the largest independent solar and battery storage developer in the UK.
Management reaction to the sale of JBM Solar
Commenting on the transaction, Susgen CEO Joseph Pillai saidWe are delighted for the JBM team, and wish them every success in the next chapter of their exciting story with RWE. Susgen is proud to have contributed to the development of a solar and battery pipeline that will deliver a significant proportion of the UK government’s 70 GW target for 2035.”
David Cramer, co-founder of JBM Solar, added, “The sale marks the beginning of a new phase for this team, but also closes the door on a very successful chapter in our history. By successfully partnering with Susgen over the past five years and relying on their financial and strategic support, JBM Solar has been able to build an exceptional team and an unparalleled pipeline.”
What will happen after the sale of JBM Solar to Susgen?
Susgen focuses on the investment, development and management of strategic and scalable renewable energy asset portfolios. Since 2012, Susgen has invested in companies that have fully developed 2 GW of renewable energy, and has financed pipelines for solar, co-located storage, and autonomous storage with a total capacity of over 30 GW. The company aspires to invest in the development of an additional 15 GW of projects over the next three years.
The successful sale of JBM Solar allows Susgen to focus on identifying new partners to accelerate the transition to net zero, while enabling the development of a 4 GW pipeline under its standalone storage developer, Alcemi. This transaction follows Susgen’s successful exit from Urban Grid to Brookfield Renewable in early 2022. Through these investments, Susgen has delivered 30 GW of renewable energy projects to the North American and UK markets.
