BayWa r.e. acquires Enable Energy, Inc.
The acquisition represents the latest move in BayWa r.e.’s growth and expansion strategy in the Americas. With 750 megawatts (MW) of solar and wind projects under construction in California, North Carolina, Texas and Mexico, BayWa r.e. will pass 1 gigawatt (GW) of utility-scale installations in the Americas by the end of 2020. The addition of EEI’s pipeline will push BayWa r.e.’s total pipeline of solar and wind projects to more than 5 GW in the region.
BayWa r.e. sees multiple synergies resulting from the acquisition of EEI, in particular those resulting from its capabilities in serving enterprise C&I customers and utilities with turnkey services. EEI’s full-service operations and maintenance support, as well as its national leadership in commercial and utility-scale energy storage solutions, also enhance BayWa r.e.’s offering to its own global key accounts.
“Enable Energy is one of the fastest-growing solar and energy storage solutions providers in the U.S., with a significant installation base, healthy project pipeline and expanding O&M business,” said Axel Veeser, Managing Director, BayWa r.e. USA LLC. “The addition of EEI to the BayWa r.e. Americas family will create multiple collaborative opportunities with our existing businesses and improve our position in strategic regional and vertical markets, such as commercial solar-plus-storage.”
EEI has worked with local and regional businesses, Fortune 500 companies and Federal government entities on a variety of projects in California, Hawaii and other locations to build more than 76 MW of rooftop and ground-mount commercial, industrial, and utility solar projects since the company was founded in 2014. EEI has also emerged as a leader in the behind-the-meter and front-of-meter energy storage EPC sectors, with completed installations of over 70 megawatt-hours (MWh) in 2019 alone.
“By combining our US C&I focus and extensive expertise with BayWa r.e., we will be able to execute on a significantly expanding project pipeline and leverage the strength of our new parent company’s resources and global brand,” said Brad Ferrell, CEO of Enable Energy. “We look forward to expanding our geographic reach, building our relationships with strategic clients, strengthening our O&M offering, and working together with BayWa r.e.’s already impressive team to support their global client base with facilities in the U.S.”
EEI will operate under its own name for the time being and eventually be rebranded as a BayWa r.e. company.