BayWa r.e. has reached an agreement with shareholders and financiers on comprehensive financing for the transformation, securing a total of approximately €435 million. At the same time, the current majority shareholder, BayWa AG, plans to have its 51 percent stake managed by an investment company.
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Several ways of financing
BayWa AG and its long-standing shareholder Energy Infrastructure Partners (EIP, currently 49 percent) are thus driving forward the transformation of the largest solar retailer. The additional financial resources consist of loans from banks and shareholders, credit lines, and guarantees.
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The transaction, which has now been approved, is expected to be completed in the second quarter. It is subject, among other things, to the usual approvals from the boards and financiers. This secures BayWa r.e.'s capital requirements until the end of 2028.
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BayWa r.e. will continue to rely on EIP's financial support and expertise. Initial considerations to increase EIP's stake were abandoned in favor of the solution now supported by the shareholders and financiers.
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Project business to be expanded
The project business, in particular, will be expanded in the future, with its own IPP portfolio. BayWa r.e. will remain active worldwide and focus on markets with lower economic risk and strong growth. French solar projects with a total capacity of 127 megawatts were recently sold. These included the Greenberry (40 megawatts), Fontenet 3 (40 megawatts), and Amance (47 megawatts) solar parks. (HS)
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