DGAP-News: BayWa AG / Key word(s): Acquisition
BayWa extends the reach of its wind power business to Austria and
Eastern Europe
23.08.2011 / 08:56
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BayWa extends the reach of its wind power business to Austria and Eastern
Europe
Munich-based BayWa AG continues to expand its
international operations by extending the reach of its activities in the
field of renewable energies to Austria and Eastern Europe: It has taken
over Ecowind GmbH (Austria), a company which develops and builds wind power
projects in Bulgaria, Poland, Romania, Slovakia, Croatia and Austria,
through its wholly-owned subsidiary BayWa r.e. The seller is AAG Holding
GmbH, Kilb/St. Pölten (Austria), which principally owns companies in the
agriculture sector. As owner-managed AAG Holding intends to focus on its
competences in the agriculture industry, a share of 90 percent in Ecowind
GmbH was sold to BayWa r.e for EUR 4.6 million (unencumbered by net
financial debt) with retrospective effect as per 30 June 2011.
Ecowind GmbH is a strategically important add-on to BayWa r.e's current
activities which comprise a number of different subsidiaries operating
internationally as project developers and traders in the fields of biogas,
solar and wind power. Ecowind GmbH has a number of wind power projects
under development with a total peak power of around 400 megawatts in
Austria and the aforementioned eastern European countries. Together with
BayWa r.e as it is financially strong partner, it can now make swift
headway with implementation and growth.
This new investment will enable BayWa to participate in the huge potential
of onshore wind power in Eastern Europe. Experts anticipate that the
capacity of wind energy in Eastern Europe will grow by more than one
gigawatt a year through to 2020. Eastern Europe currently has an installed
wind power capacity of around three gigawatts.
Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communication,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98,
e-mail: marion.danneboom@baywa.de
End of Corporate News
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23.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: BayWa AG
ArabellastraÃe 4
81925 München
Germany
Phone: 089/ 9222-3691
Fax: 089/ 9222-3698
E-mail: presse@baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of News DGAP News-Service
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136570 23.08.2011
DGAP-News: BayWa extends the reach of its wind power business to Austria and Eastern Europe
| Source: EQS Group AG