BayWa r.e. announced the expansion of its solar distribution business to Greece. The company has been actively present in the country since 2013 with the development of renewable energy projects as well as O&M services. Greece has some of the most ambitious climate targets in Europe: by 2030, at least 70% of its consumed electricity is to come from renewable sources. With a current pipeline of more than 1.6 GW in wind and solar projects, BayWa r.e. already contributes significantly to these goals.
After being highly active in Italy and Spain in recent years, BayWa r.e. continues to develop its operations in Southern Europe. The new Solar Trade entity in Athens will complement the existing ones for Services and Projects and add to the ongoing expansion of BayWa r.e.’s solar distribution business. BayWa r.e. Solar Trade announced earlier this year that it also increases its activities in Austria and Latvia.
Alexander Schütt, Regional Director at BayWa r.e. Solar Trade: “In this decade that matters, BayWa r.e. sees significant potential in Greece playing a leading role in the development of renewable energy sources in Europe, accelerating the renewables transition. We already established close cooperations with Greek energy companies and are looking forward to further strengthen our presence in the market with our committed solar distribution team in Athens.”
As one of the world's largest wholesalers of solar components, BayWa r.e. has a strong track record of delivering high-quality products and services to its customers. Building on more than 30 years of business experience and with more than 16,000 partners internationally, the company provides integrated solutions to installers and technical companies for residential, commercial, and industrial-scale PV projects.
Haris Christidis, Managing Director of the newly established BayWa r.e. Solar Systems Single Member S.A., said: “Beside commercial and industrial applications, we want to focus on the highly promising market of residential systems in Greece. This market is expected to boom due to the newly launched governmental subsidy program for residential roofs combined with storage systems. Through central frame agreements with the world's leading PV manufacturers, we provide our partners in Greece direct access to the strongest brands on the most competitive terms while simultaneously increasing the resilience of the local solar supply chain.”
Notes to the editor
BayWa r.e. recently announced that the BayWa Group plans to sell its solar distribution business to focus on the international project business and further expansion as an independent power producer (IPP). The sale supports the goal to triple the volume of the projects business by 2026 and grow the IPP portfolio to 3 GW.
For Solar Trade, the anticipated deal will help to realise huge growth opportunities in core European markets, APAC and the Americas, and to reach double-digit GW sales of modules and inverters.