Yes, the BI Connector Server Edition works seamlessly with the Power BI Report Server.

For the Report Server, the BI Connector licensing is a server-based (CPU core based) unlimited user license of BI Connector Server Edition. The number of CPU cores in the machine used for the Report Server is considered. A minimum of 8 CPU cores must be licensed.

If you have an enterprise installation (10 or more CPU cores) for the Report Server, then we recommend an enterprise license of BI Connector Server Edition which will offer you the flexibility to deploy BI Connector on all servers for all your users at an attractive cost.