BayWa r.e. snaps up 600MW French solar and wind portfolio

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Image: BayWa r.e.

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.

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.

Read Next

November 26, 2021
The European Commission (EC) has approved a €2.27 billion (US$2.56 billion) Greek scheme to support 4.2GW of installed renewables capacity after assessing it in the context of EU state aid rules
November 23, 2021
Renewables developers and O&M provider RES has appointed two new chief executives to lead on its growth plans.
November 12, 2021
German conglomerate BayWa AG has witnessed “flourishing” sales of solar PV components take its renewables segment to new heights in the first nine months of 2021.
November 3, 2021
Solar jobs in Europe will double to 742,000 by 2030 when based on the current European Commission (EC) target of 40% renewables.
October 19, 2021
Lightsource bp has announced its entry into Poland’s solar market through a co-development deal which will see the developer proceed with a 757MWp pipeline in the country.
October 19, 2021
Europe's energy crisis can be a boon for renewables deployment on the continent by bolstering business cases, but familiar foes such as grid constraints will still need to be hurdled in the coming years.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
December 1, 2021
Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal