BayWa r.e. to begin solar project business in the USA
With the acquisition of the majority of the assets of Martifer Solar USA, Inc., BayWa r.e. is venturing into the solar project business in the USA.
BayWa r.e. is already active in the American PV trade and wind farm development segments. Matthias Taft, Chairman of the BayWa r.e. Management Board, commented: "With this strategic acquisition, we've found the ideal partner to further our PV project activities in the USA. There's a huge market for renewables in America, and a wide range of suitable freestanding and large rooftop sites which boast high yields. We can now leverage this potential via our new platform, in conjunction with our other activities."
Martifer Solar USA is a subsidiary of Portuguese-based Martifer Solar S.A. through its U.S. holding company, and has its origins in the building sector. The transaction has been conceptualised as an asset deal. In principle the sale has been approved by the Court of Nevada. The aim is to close the deal before the end of July.
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 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, wind energy, bio-energy and geothermal energy.
BayWa r.e.’s business activities range from project development and realisation to PV trade and consulting services. The company covers the entire spectrum of a professional technical plant support service, including maintenance. It can also undertake the commercial operations management of plants. The range of services also includes trading of renewable energy power, 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 (Munich) is a listed trading company operating on an international platform. Its main business sectors are agriculture, energy and building materials.