BayWa re AG has seen record-high earnings before interest and tax (EBIT) of EUR239.1 million (US$260.3 million) for 2022. This marks an increase from the previous year's earnings of EUR135 million. The company saw almost double the revenues from the past year, with earnings boosting further due to strong demand in solar module trading, and the sale of 26 wind and solar power plants.
BayWa’s independent power producer (IPP) business, which handles the operation of the company's own solar and wind farms, was expanded by seven projects to reach a total of 26. The company's financial report shows Photovoltaic (PV) module sales jumped by 71% in annual terms to 3.5 GWp. Looking forward, BayWa aims to shed 2.1 GW of solar and wind project projects in 2023 and expand its IPP portfolio by project acquisitions in Europe.
BayWa is optimistic and expects the renewable energy segment to keep its growth trajectory, driven by the German government’s goal and subsidy schemes for solar power and e-mobility. The company’s progress in achieving record-high earnings shows how the renewable energy sector is thriving and will continue to grow in the future through the use of solar, wind, and other sustainable energy sources.
Country updates
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