In 2021, BayWa r.e. sold wind and solar projects with around 500 MW of installed capacity in its core European markets of France, Italy, the Netherlands, Spain and Sweden. The company also commissioned its largest wind farm in Europe, the 94.6 MW Lyngsåsa wind farm in southern Sweden. In the APAC region, BayWa r.e. successfully sold the Isohara solar farm in Japan. In the Americas, BayWa r.e. initiated the construction phase of the 98.8 MW Strauss wind project, the first on the California coast. The company also developed and built the 260 MW Corazon solar farm in Texas.
Spain and the Netherlands will continue to be core markets for the solar business, while Eastern Europe is also growing in importance. The Nordic countries and Spain will play an important role in the expansion of the onshore wind business, while the UK, France and Portugal are considered priority markets for offshore wind projects. BayWa r.e.'s project pipeline in Europe amounts to more than 12.5 GW. In APAC, BayWa r.e. has a solar and wind project pipeline totaling 2.5 GW and will also pursue project opportunities in floating solar and wind. In the Americas, BayWa r.e. will continue to develop its pipeline of more than 5 GW of wind, solar and energy storage projects and further expand its O&M and EPC business in the region.
Energy Solutions
It was a record year for the Energy Solutions business, with 68 projects completed compared to 54 in the previous year. Highlights last year included the signing of the first solar corporate PPA in Poland with HeidelbergCement and the largest solar VPPA for the packaging industry in Europe with Huhtamaki. In the USA, BayWa r.e. announced a PPA with multinational Hershey. BayWa r.e. also implemented its largest rooftop PV project to date with global real estate company Goodman.
BayWa r.e. made significant progress in APAC with new projects awarded to the company in the fourth quarter. Further expansion in this market is expected in 2022, with upcoming PPA deals in Vietnam, Singapore and Malaysia. In the U.S., the company has established a leading position in the EPC business for C&I and large-scale facilities in Hawaii and throughout the Pacific region. The company will also continue its success in the European market in the coming year with new projects and expanded customer relationships.
Services
A key milestone for the Services business in 2021 was surpassing the 10 GW mark in plant capacity in the operating portfolio. Another significant highlight was the acquisition of the service provider Kaiserwetter's IoT, asset intelligence and data science solutions to expand expertise in digital plant operation. In addition to the digital transformation of the business unit, the focus last year was on repowering and revamping solutions. BayWa r.e. successfully implemented several repowering projects in the core European markets of France, Italy, the UK and Germany. In California, USA, BayWa r.e. opened a new Remote Operational Control Center (ROCC), which provides round-the-clock support for solar projects in the USA and Mexico.
Digitization and revamping will continue to be a focus of the service business in 2022 to further increase efficiency and sustainability in the industry.
Solar trade
BayWa r.e.'s wholesale PV business recorded a significant increase compared to 2020 with the sale of several GW of modules and inverters - despite recurring disruptions in the supply chain. As a result, the business unit's revenues increased by more than 60 percent. At the beginning of 2021, the company announced the successful spin-off of novotegra GmbH as an independent assembly system manufacturer. In Poland, the establishment of an independent sales business followed with the inauguration of a first warehouse and new offices in Krakow. Several acquisitions underpinned BayWa r.e.'s leading role in the European solar trade and enabled targeted growth in individual markets. In October 2021, novotegra GmbH further expanded its portfolio in the European market with the acquisition of PV Integ AG, which specializes in mounting systems for green and gravel roofs. Through the acquisition of a leading solar wholesaler, BayWa r.e. entered the Czech solar trading market in May 2021 and further expanded its position in Eastern Europe. The acquisition of Beacon Solar at the end of 2021 also led to a significantly expanded market presence in the USA.
In 2022, the business unit will continue to be able to rely on rising global demand driven by high electricity prices, ambitious climate targets and extensive incentive measures. In the coming years, BayWa r.e. plans to make further acquisitions, particularly in regions where the company is not yet sufficiently represented or is not yet the market leader. (hcn)
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