BayWa is entering the Dutch solar market by taking a 70% stake in a 2GW project pipeline owned by the GroenLeven Group.
The deal, which is still subject to final approval from the relevant antitrust authorities, will see the companies form a joint venture. GroenLeven will continue to hold a 30% interest in the JV.
Tariffs have already been secured for about 800MW of the pipeline, BayWa said.
BayWa management board member Matthias Taft said: “In the Netherlands we will be very purposeful in pursuing our business model, which has been successful for years, together with our partner.
“BayWa will support delivery, finance and sales for GroenLeven’s project pipeline and together we will increase our market position as the leading constructor and operator of photovoltaic power in the Netherlands within the coming years.”
Image: BayWa
BayWa shows Dutch PV interest
By EBS