BayWa r.e. has agreed with its shareholders and financiers on comprehensive financing for the transformation process and is securing funds totaling around €435 million.
At the same time, the majority shareholder BayWa AG plans to have its 51 percent stake managed by an investment company. BayWa AG and the long-standing 49 percent shareholder Energy Infrastructure Partners (EIP) are thus significantly advancing the transformation of BayWa r.e.
The additional financial resources consist of bank and shareholder loans, credit lines and guarantees.
According to current planning, the transaction that has now been decided is to be completed in the second quarter. It is subject, among other things, to the usual approvals of the committees and financiers.
With the agreements now concluded, BayWa r.e.’s capital requirements are secured for the period until the end of 2028. In addition, BayWa r.e. will continue to count on EIP’s financial support and industry-specific expertise in the future. Initial considerations for an increase in EIP’s stake were terminated in favor of the solution now equally endorsed by the shareholders and financiers.
Overall, the basis has been established for the strategic positioning of BayWa r.e. as a focused project developer in the field of renewable energies with its own IPP portfolio. As communicated, BayWa r.e. will continue to operate worldwide, focusing on markets that show lower economic risk and growth opportunities.
Matthias Taft, CEO of BayWa r.e.: “This solution takes us several steps forward – the support of shareholders and financiers will also give us a positive boost as we rapidly implement our transformation.”
Success in the operational project business
BayWa r.e.’s operational project business continues to perform successfully. Recently, BayWa r.e. sold a portfolio of French solar projects with a total capacity of 127 MWp. The portfolio includes the operational solar parks Greenberry (40 MWp) and Fontenet 3 (40 MWp), which were sold to the generation division of Octopus Energy, as well as the Amance solar park (47 MWp), which is currently under construction. This was sold to Commerz Real, a renowned asset manager in Europe.
