Germany’s BayWa has said it plans to focus on building PV projects in West Coast America following its acquisition of Martifer Solar USA.
BayWa said the purchase of struggling Martifer USA, which was revealed yesterday, would enable it to gain a foothold in the burgeoning US market.
A spokeswoman for the company told PV Tech its geographic focus would be the West Coast, particularly California, and that it would look to build primarily commercial rooftop and distributed generation PV projects.
BayWa chairman, Matthias Taft, added: “With this strategic acquisition, we've found the ideal partner to further our PV project activities in the USA. There's a huge market for renewables in America, and a wide range of suitable freestanding and large rooftop sites which boast high yields. We can now leverage this potential via our new platform, in conjunction with our other activities.”
The company has yet to confirm how large a portfolio it intends to develop in the US.
Its acquisition of Martifer Solar USA was confirmed by the Nevada bankruptcy court last week. Martifer Solar USA had filed for Chapter 11 bankruptcy earlier this year.