BayWa r.e. pockets US$642m in Energy Infrastructure Partners equity sale

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
BayWa r.e.'s Bomhofsplas floating solar farm in the Netherlands. Image: BayWa r.e.

Renewables developer BayWa r.e. has received a major capital injection of €530 million (US$642.3 million) through the sale of a 49% stake in the outfit to Energy Infrastructure Partners (EIP).

The deal values the renewables division of agricultural group BayWa AG at more than €1 billion (US$1.2 billion), and will see it pivot towards an independent power producer model, the company said.

In a statement issued earlier today (9 December), BayWa r.e. confirmed that the investment group, formerly known as Credit Suisse Energy Infrastructure Partners, will make the investment in return for a minority stake, having previously sought investors for such a capital raise.

BayWa AG, the renewable energy division’s parent company, will remain the group’s majority shareholder with a 51% stake.

The deal will also see share capital of BayWa r.e. increased through the issue of two new shares, with only EIP permitted to subscribe to them. BayWa r.e.

Klaus Josef Lutz, chief executive officer at BayWa AG, said the transaction was “testament to the fact that our decision eleven years ago was the right one”.

“In just a decade, BayWa r.e. has developed into one of the leading companies in the fields of renewable energies – and one that the market values at more than €1 billion,” he said.

Proceeds from the injection will go towards strengthening the company’s project, service and solutions businesses moving forward, while also turning BayWa r.e. into an independent power producer. The firm will independently operate a renewables portfolio of up to 3GW in the medium turn, it said. 

Roland Dörig, co-founder and managing partner at EIP, meanwhile described BayWa r.e. as a “one-of-a-kind international platform” in renewables that is making an “important contribution to the energy transition”.

4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.

Read Next

July 4, 2022
The World Bank has approved US$165 million in additional financing to support 450MW of rooftop solar deployment in India and make distributed generation systems in the country more affordable.
PV Tech Premium
July 1, 2022
PV Tech Premium spoke with Cypress Creek Renewable Energy and AES Clean Energy to discuss the newly formed US Solar Buyer Consortium, its objectives, market challenges and the potential advantages it holds for US manufacturing and project development.
June 30, 2022
D.E. Shaw Renewables Investments (DESRI) has secured up to US$400 million in new capital finance to support its US renewables strategy.
June 29, 2022
Spanish independent power producer (IPP) Opdenergy is planning to launch an initial public offering (IPO) to finance its target of reaching 3.3GW of renewables assets in operation and under construction by 2025.
June 28, 2022
Utility-scale renewables developer Intersect Power has secured US$750 million in funding to take its portfolio of renewables, energy storage and green hydrogen projects beyond 8GW.
June 24, 2022
A project in Australia that could feature up to 17–20GWp of solar and 36–42GWh of energy storage has been categorised as investment ready by a government agency.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 19, 2022
Free Webinar - 10am and 6pm BST
Upcoming Webinars
July 27, 2022
9am (UTC +2) / 3pm (UTC +8)
Solar Media Events
October 4, 2022
New York, USA