BayWa Group to sell business entity Solar Trade
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In addition, the sale will provide Solar Trade with the opportunity to continue its success story together through a potential buyer. BayWa r.e.’s solar trading business is an established market leader, with a worldwide presence comprising a global network of more than 20 distribution companies and over 1,400 employees. The global transition to renewable energy is creating huge growth opportunities in core European markets, and expansion in the APAC and Americas regions. Solar Trade has the potential to increase annual sales of solar modules and inverters to over 10 GW.
“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.”
The combined effects of the global climate and energy crises are accelerating the transition to renewable energy sources even further. According to projections, more electricity will be generated from renewable energy sources in the next five years than in the past 20 years altogether. This acceleration is creating a highly dynamic market environment.