BayWa to sell PV wholesale business
Post date: 02/03/2023 - 11:30
German agricultural and energy group Baywa AG plans to sell the »Solar Trade« wholesale business with photovoltaic components, which is part of its subsidiary Baywa r.e. AG. The latter will »focus on the international project business and further expansion as an Independent Power Producer (IPP)«, the group announced, apparently expecting great interest and correspondingly high sales proceeds for its Solar Trade division: This, it said, should be enough »to finance a tripling of the volume of its current project business by 2026 and to enlarge the IPP portfolio to 3 gigawatts.«
The Solar Trade unit itself, which has more than 20 distribution companies and 1,400 employees worldwide, has »huge growth opportunities« in the event of a sale, particularly in its core European markets, but also through expansion in the APAC and Americas regions. Baywa sees »the potential to increase annual sales of solar modules and inverters to over 10 GW.«
Baywa has been active in the renewable energy sector since 2008, with its current wholesale PV business largely stemming from the acquisition of the former MHH Solartechnik GmbH, which was completed in January 2010. Overall, renewable energies contributed more than half of the group's earnings in 2022, which, according to preliminary figures (the 2022 balance sheet is to be published on March 30), amount to € 504 million ($ 536 million) before interest and taxes, almost 90 percent more than in 2021 (€ 267 million).