BayWa r.e. buys 600MW French solar as well as wind portfolio

May 26, 2021 01:30 PM ET
  • Solar designer and supplier BayWa r.e. has acquired French wind and solar developer Enerpole to expand its existence in the nation's renewable energy sector.
BayWa r.e. buys 600MW French solar as well as wind portfolio
Image: BayWa r.e.

As part of the bargain, BayWa r.e, the renewables organization of German agriculture group BayWa, has taken over a 600MW capability project portfolio, fifty percent of which solar PV.

BayWa r.e. stated in a declaration that the procurement will enable it to open up a seventh office in Carcassonne, France, a market represents roughly 20% of the business's revenues. BayWa r.e. has actually already tripled its labor force in the last 3 years, and also said it plans to recruit 30 more workers for its French organization.

The developer presently has a 1.2 GW solar project pipe in France, with 315MW of wind and solar already set up in the country.

Can Nalbantoglu, handling supervisor of BayWa r.e. France, stated that the country's Occitane area has "top quality ... solar and wind sources" that make it an essential market for future development. Occitane is currently France's second biggest area in terms of installed power capability.

The designer saw an "unusually solid" start to the year, with a 73% year-on-year boost in Q1 revenues to EUR662.1 million (US$ 800.1 million) driven by high need for solar components in Europe. The company mounted 3 new storage facilities in Europe during the first 3 months of the year, as well as claimed it plans to open up a fourth during the second monetary quarter.

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