BayWa r.e. looking for investor for further growth
BayWa AG plans to support the future growth of BayWa r.e. renewable energy GmbH through a capital increase, the company announced yesterday. The capital increase will be carried out directly at BayWa r.e. with the participation of third parties. Regardless of the outcome, BayWa will continue to hold a majority stake in BayWa r.e. The Group pools its business activities in the fields of renewable energies in BayWa r.e., a wholly owned subsidiary of BayWa AG.
“BayWa r.e. has been a true success story for us over the past ten years,” said Klaus Josef Lutz, Chief Executive Officer of BayWa AG. Since 2009, BayWa r.e. has built and marketed solar, wind power and biogas plants with an output of 2.5 gigawatts. Today, BayWa r.e. is a leading company in the renewable energies sector. With over €72 million in EBIT, the company made a substantial contribution to the Group’s total earnings of roughly €173 million in 2018.
“We plan to further promote the tremendous, profitable growth of BayWa r.e. in cooperation with a suitable partner in the years ahead,” Lutz said.
Project pipeline of 10 GW
Thanks to the acquisitions of the past two years, the project pipeline is well filled – primarily in Europe, the US and Asia – and currently stands at roughly 10 gigawatts, Lutz added. Projects involving some 660 megawatts (MW) are slated for construction and sale in 2019 alone. “We imagine a partner who will allow us to do an even faster job of launching and completing projects in the medium to long term while continuing to increase BayWa r.e.’s earnings significantly,” Lutz explained. (HCN)
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