BayWa r.e. the renewable energies business unit of diversified German company BayWa has significantly increased revenue in the first half of 2017, having developed and sold PV power plants and increased sales of PV modules and inverters by around 50%, compared to the prior year period.
Two solar parks in the UK were sold that had a total output of approximately 75MW, while BayWa also noted the growing demand in Germany, notably in the utility-scale sector, which had contributed to a 50% increase in connected installations, equating to around 600MW. Growth in energy storage system installs in Germany was also noted.
Renewable Energies segment sales in the first half of 2017 were €576 million (US$683.8 million). EBIT in the reporting period was €41.3 million (US$49 million).
BayWa also noted that it was expanding its global footprint, specifically in PV component sales, establishing new operations in France, Poland, the Netherlands and Thailand.