Solar developer and distributor BayWa r.e. has acquired French wind and solar developer Enerpole to grow its presence in the country’s renewable energy sector.
As part of the deal, BayWa r.e, the renewables business of German agriculture group BayWa, has taken over a 600MW capacity project portfolio, half of which solar PV.
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BayWa r.e. said in a statement that the acquisition will enable it to open a seventh office in Carcassonne, France, a market accounts for roughly 20% of the company’s revenues. BayWa r.e. has already tripled its workforce in the last three years, and said it intends to recruit 30 more workers for its French business.
The developer currently has a 1.2GW solar project pipeline in France, with 315MW of wind and solar already installed in the country.
Can Nalbantoglu, managing director of BayWa r.e. France, said that the country’s Occitane region has “high quality…solar and wind resources” that make it a key market for future development. Occitane is currently France’s second largest region in terms of installed power capacity.
The developer saw an “unusually strong” start to the year, with a 73% year-on-year increase in Q1 revenues to €662.1 million (US$800.1 million) driven by high demand for solar modules in Europe. The company installed three new warehouses in Europe during the first three months of the year, and said it plans to open a fourth during the second financial quarter.
