BayWa r.e. expands renewables business to Scandinavia
BayWa r.e. has entered the renewables market in Scandinavia by purchasing a 76 percent share in Swedish project developer HS Kraft AB.
HS Kraft AB is a project development company based in Malmö that specialises in implementing projects in the wind power sector. The team of eight staff offers a full range of services, from initial feasibility studies, engineering and development through to construction and commissioning of wind turbines as well as managing wind farms. Matthias Taft, CEO of BayWa r.e., is optimistic: "The acquisition of a majority share in HS Kraft AB unlocks further potential in the European market for BayWa r.e. We are pleased to have made this next important step in the internationalisation of our project business and are confident that, in HS Kraft, we have found the right partner for positive development and further growth in the BayWa r.e. Group."
With the excellent wind conditions and the stable political and regulatory environment in Scandinavia, BayWa r.e. expects to see sustainable business development. Håkan Wallin, Managing director of HS Kraft, added: "As part of BayWa r.e. we now have the security of being connected to a global group of companies. This makes us confident that we will be able to drive forward our business in Scandinavia and Finland and contribute to even more positive results and increased business areas."
Additional offerings from the BayWa r.e. range of services will also be available in this new core market, such as increased commercial and technical operations management and technical consulting.
BayWa r.e. renewable energy GmbH (BayWa r.e.):
BayWa r.e. renewable energy GmbH, a wholly owned subsidiary of BayWa AG, is responsible for the BayWa Group's renewable energy business. BayWa r.e. was founded in 2009 and is based in Munich. It acts as a holding company for various business interests in the areas of solar energy, wind power, bio-energy and geothermal energy.
BayWa r.e.'s business activities range from project development and realisation to PV trade and consultation services. The company covers the entire spectrum of technical plant support services, including maintenance. It can also undertake the commercial operations management of plants. The range of services also includes trading in biomethane as well as the sale of eco power and eco gas to private and commercial customers. The company has an international focus with its core markets in Europe and the USA.
BayWa AG, also based in Munich, is a listed trading company with an international focus. Core business sectors include agriculture, construction and energy.