ČEZ Group division Elevion targets European solar growth following Belectric bargain

• Elevion, the renewables arm of Czech conglomerate ČEZ Group, is targeting growth within Europe's PV market after closing the acquisition of Belectric's European assets.

The deal, which was first reported last month, will see Elevion acquire a 100% risk in Belectric GmbH as well as various other European subsidiaries of the programmer as well as PV providers, including its operations in France, Italy, Israel and also various other European jurisdictions.

German energy significant RWE validated it was to unload parts of Belectric in mid-November, but was not in a placement to reveal the identification of the acquiring party at the time.

Now with Elevion having finished the bargain, group CEO Jaroslav Macek claimed the significant growth of the European solar market provided "huge possibilities" for companies like Belectric.

As part of the purchase, 500 of Belectric's workers that help divisions Elevion has acquired are to transition over to come to be workers of Elevion, bringing "required stability" for the firms, the duo claimed.

"We invite the access of a strong partner to successfully develop as well as construct huge solar jobs to support the European energy shift, to jointly get in new markets as well as get to brand-new clients," Ingo Alphéus, CEO at Belectric GmbH, said.

Elevion professes to be among Europe's leading service providers for 'contemporary power services' as well as is energetic throughout Europe. In 2020 its turnover stood at EUR608 million (US$ 685.5 million).