BayWa r.e. to Triple Project Business Volume with Solar Trade Sale Proceeds

BayWa headquarters in Munich © BayWa AG / Enno Kapitza, Abdruck honorarfrei

(IN BRIEF) BayWa r.e. AG, a subsidiary of the BayWa Group, plans to sell its international solar trading business Solar Trade as part of a strategic realignment, with the focus now on international project business and expansion as an independent power producer. The sale will allow BayWa r.e. AG to use the proceeds to triple the volume of its project business by 2026 and enlarge its IPP portfolio to 3 GW. Solar Trade, an established market leader, will continue its success story with a potential buyer and has the potential to increase annual sales of solar modules and inverters to over 10 GW. The global transition to renewable energy and the acceleration of the transition to renewable energy sources are creating significant growth opportunities for renewable energy companies.

(PRESS RELEASE) MUNICH, 1-Mar-2023 — /EuropaWire/ — BayWa Group (ETR: BYW6), a globally active group with the business units Energy, Agriculture and Building Materials, announces that BayWa r.e. AG, plans to sell Solar Trade, an international solar trading business, as part of its strategic realignment. BayWa r.e. AG will focus on the international project business and expand as an independent power producer going forward, with the goal of tripling the volume of its current project business by 2026 and enlarging its IPP portfolio to 3 GW. The sale will provide Solar Trade with the opportunity to continue its success story with a potential buyer, as it is an established market leader in the solar trading industry.

The global transition to renewable energy is creating significant growth opportunities in core European markets, as well as in the APAC and Americas regions. Solar Trade has the potential to increase its annual sales of solar modules and inverters to over 10 GW. The global climate and energy crises are accelerating the transition to renewable energy sources, and projections suggest that more electricity will be generated from renewable sources in the next five years than in the past 20 years combined. This dynamic market environment presents significant opportunities for renewable energy companies.

“A strong buyer will give us the chance to write the next chapter in the Group’s exceptional success story that started in 2008,” says Prof. Klaus Josef Lutz, Chief Executive Officer of BayWa AG and Chairman of the Supervisory Board of BayWa r.e. AG. “Today, we play a key role in setting the pace for the transition to renewable energy sources. More than half of our consolidated earnings are generated with renewable energies.”

“BayWa r.e. has achieved astonishing growth in its efforts to drive forward the global energy transition,” says Matthias Taft, Chief Executive Officer of BayWa r.e. AG. “We owe this success to the dedication and passion of our employees. Now is the right time to set this strategic course for the future, which will enable BayWa r.e. and Solar Trade to focus even more closely on pursuing this objective.”

“There will be a huge demand for more renewable energies in the future, which means enormous potential for the players in this market,” says Roland Dörig, co-founder and Managing Partner of Energy Infrastructure Partners (EIP) AG. “The high degree of momentum in the market in recent years, combined with Solar Trade’s success and position as a market leader, should make this an extremely attractive prospect for potential buyers.”

Media contact:

Antje Krieger
Head of Media Relations
Tel.: +49 89 9222-3692
antje.krieger@baywa.de

SOURCE: BayWa AG