German renewables firm BayWa r.e. has acquired Brazilian solar distributor Ribeiro Solar, marking the company’s first involvement in the Brazilian solar sector.
Ribeiro Solar stocks modules are produced by some of the world’s leading solar developers, including Solar Module Super League member LONGi, and has distribution hubs in the Brazilian states of Rio Gande do Sul and Pernambuco in the country’s east, and Paraná in the south.
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While neither BayWa r.e. nor Ribeiro Solar announced how the deal would affect the supply chains or operations of either company, the former noted that the latter would stand to benefit from its “global scale”, suggesting that both companies could see their supply chains expand as a result of the arrangement.
“We are very grateful for this opportunity to be a part of the BayWa r.e. team, a respected global player in the solar market,” said Liciany Ribeiro, CEO of Ribeiro Solar. “This partnership reflects our shared commitment to growth, innovation and technical excellence, which in turn will benefit our valued clients.
“Together, we will make a greater impact in the renewable energy market, delivering enhanced value and sustainable solutions.”
BayWa has expanded its solar portfolio in the Americas in recent years, beginning commercial operations at its 100MW Fern Solar project in North Carolina in 2020. The company currently operates 154.2MW of solar capacity across three projects in the US, and has sought to expand its operations south with the construction of a distribution centre in the Mexican city of Mérida.
However, the company has yet to announce plans for new solar generation projects in South America. Research from Enel conducted in 2020 estimated that seven of the largest South American countries, including Argentina, Brazil and Chile, could add as much as 73GW of new solar capacity by 2030, almost four times higher than the 20.4GW of capacity currently in the development pipeline.
The news is the latest distribution deal signed by BayWa r.e., following its agreement with Chinese module manufacturer JA solar to distribute solar modules in the Asia-Pacific region signed in June.
