From pv journal Germany
BayWa AG says it desires to promote its PV product distribution enterprise to its BayWa subsidiary. It goals to make use of the sale to broaden the unit’s portfolio as an IPP to three GW, with the purpose of tripling the scale of its renewable power venture enterprise by 2026. The German conglomerate stated BayWa’s venture pipeline is now overlaying 24 GW initiatives. .
BayWa re’s photo voltaic commerce division has 20 distribution firms and greater than 1,400 staff worldwide. It says it has the potential to extend annual gross sales of photo voltaic modules and inverters by greater than 10 GW. Nevertheless, the Munich-based group didn’t present particulars about anticipated gross sales income.
“With a powerful purchaser, we’ve got the chance to proceed the group’s extraordinary success story that started in 2008,” stated Klaus Josef Lutz, CEO of Baywa AG and chairman of the BayWa re supervisory board. “In the present day we’re an essential pacesetter within the power transition. We generate greater than half of our mixed revenue with renewable power.”
The strategic realignment is expounded to the capital improve launched on the finish of 2020, in keeping with a BayWa spokesperson. Since then, Swiss investor Vitality Infrastructure Companions (EIP) has taken a 49% stake in BayWa re, with mother or father BayWa AG holding a 51% stake. BayWa re acquired €530 million ($563 million) as an fairness contribution.
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