German renewables developer BayWa r.e. has bought US-based solar and energy storage solutions provider Enable Energy Inc (EEI), taking its pipeline of solar and wind projects in the Americas to more than 5GW.
Enable Energy offers engineering, procurement and construction (EPC) services as well as operations and maintenance (O&M) support. BayWa r.e. sees multiple synergies resulting from the acquisition, especially those from Enable’s capabilities in serving commercial and industrial customers.
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“The addition of EEI to the BayWa r.e. Americas family will create multiple collaborative opportunities with our existing businesses and improve our position in strategic regional and vertical markets, such as commercial solar-plus-storage,” Axel Veeser, managing director of BayWa r.e. USA, said.
Since its founding in 2014, California-based Enable Energy has built more than 76MW of rooftop and ground-mount commercial, industrial and utility solar projects. CEO Brad Ferrell said the deal will enable the firm to expand its geographic reach and strengthen its operations and maintenance offering.
The purchase represents the latest move in BayWa r.e.'s expansion strategy in the Americas following last year’s acquisitions of equipment distributor National Solar Distributors and asset management software provider PowerHub.
With 750MW of solar and wind projects under construction in California, North Carolina, Texas and Mexico, BayWa r.e. expects to pass 1GW of utility-scale installations in the Americas by the end of 2020.
Following on from its sale of Europe’s largest floating solar farm in July, the company is expected to offload a pipeline of more than 1GW renewables assets before the end of the year.
