BayWa re to divest solar PV product distribution business
BayWa AG has announced plans to divest the solar photovoltaic (PV) product distribution business of its BayWa re subsidiary. The proceeds from the sale will be used to expand BayWa re's portfolio as an independent power producer (IPP) to 3 GW, with the aim of tripling the size of its renewable energy project business by 2026.
BayWa's solar trade division comprises 20 distribution companies and over 1,400 employees worldwide, with the potential to increase annual sales of solar modules and inverters to more than 10 GW. However, no details were provided on the expected sales proceeds.
Currently, BayWa re's project pipeline comprises 24 GW of projects, representing a significant growth opportunity.
Country updates
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