BayWa r.e. puts intl solar trade business on the block

Germany's BayWa Group (ETR: BYW6) has put the international solar trade business of its renewable energy subsidiary up for sale.

The decision for the divestment of Solar Trade is part of the strategic reorganisation of BayWa r.e. AG which will focus on its international project business and expand further as an independent power producer (IPP), the Munich-based group said on Wednesday.

BayWa r.e.'s solar trading business includes more than 20 distribution companies with over 1,400 employees and its core markets are in Europe. The group estimates that Solar Trade could boost its annual sales of solar modules and inverters to over 10 GW amid growing demand fuelled by the transition to renewable energy.

Roland Doerig, managing partner of BayWa r.e.'s core shareholder Energy Infrastructure Partners (EIP) commented that “the high degree of momentum in the market in recent years, combined with Solar Trade’s success and position as a market leader, should make this an extremely attractive prospect for potential buyers.”

The proceeds from the sale will be invested in BayWa r.e.'s project business which should triple by 2026. Part of the fresh funds will be used to increase the IPP portfolio to 3 GW.

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