BayWa r.e. now operates as a stock corporation
Post date: 07/04/2021 - 13:04
The announced capital increase at BayWa r.e. by Swiss investor Energy Infrastructure Partners (EIP) has been completed. The former BayWa r.e. GmbH has now been entered in the commercial register as a stock corporation, the company announced.
As reported, EIP is taking over 49 percent of the shares in BayWa r.e. with an equity contribution of €530 million ($627 million). The parent company BayWa AG remains the majority shareholder with 51 percent.
With the change of name, the former Chief Energy Officer of BayWa AG Matthias Taft was appointed Chairman of the Board of Management of the new BayWa r.e. AG. Together with Günter Haug, COO, and Harald Wilbert, CFO, he forms the Board of Management of BayWa r.e. AG. BayWa CEO Klaus Josef Lutz becomes Chairman of the Supervisory Board of BayWa r.e. AG.
In the course of presenting the annual report in March, BayWa CEO Lutz explains that the new BayWa r.e. will increasingly operate as an independent power producer (IPP) in the future. The company plans to operate around 20 solar and wind power plants with a total capacity of 600 MW by the end of this year. BayWa r.e. currently manages renewable energy plants with a capacity of 10 GW.