From pv magazine Germany
A good three months after the announcement, Swiss investor Energy Infrastructure Partners (EIP) has taken a 49% stake in German renewable energy company Baywa re, through an equity contribution.
Baywa AG, which will remain the majority shareholder of the company, with a 51% interest, will receive the money in March, after the relevant supervisory authorities in Germany, Austria and Australia should have given their approval.
This is the largest transaction in Baywa Group's history to date. “Now we can implement the growth strategy for Baywa re even faster and, together with … EIP, advance into new dimensions in renewable energies,” announced Baywa CEO Klaus Josef Lutz.
The partners agreed to further strengthen Baywa re's project, service and solution business. At the same time, the company should also be active as an independent power producer (IPP) in the future. As part of this, it is planned to operate selected photovoltaic and wind power plants with a total output of up to 2.5 GW in the medium term.
With the entry of EIP, Baywa re is converted from a GmbH into a publicly listed company. Matthias Taft, previously energy director of Baywa AG, will take over the chairmanship in the future.
Responsibility for the conventional energy business area will be transferred to Marcus Pöllinger, who will also be responsible for the construction segment and the agriculture, technology, and digital farming business areas. Lutz will take over responsibility for renewable energies in his role as chairman of the supervisory board of Baywa re AG, it was said.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.