January 24 (Renewables Now) - BayWa re renewable energy GmbH said today it has acquired the solar plant service business of German solar project developer Sybac Solar GmbH.
As a result of the deal, BayWa’s solar asset servicing portfolio will expand by nearly 300 MW, the renewables arm of German diversified group BayWa AG (ETR:BYW6) announced. It added that the transaction will strengthen its market position on the domestic solar market, in line with plans to expand its on-site services both in the PV and wind segments.
“Due to the increasing size and rising number of employees in our O&M business sector, we will not only become more competitive in the segment of technical management through the use of economies of scale, but will also be able to improve our regional presence throughout Germany in the future,” said Marc Niem, managing director of BayWa re Operation Services GmbH.
The acquired firm, called Sybac Service GmbH, has 24 employees and offices in Kehrig, Rhineland-Palatinate state, and Radebeul, Saxony. The company will continue to operate as an independent entity for now, but is expected to be merged into BayWa re Operation Services GmbH in the second quarter of this year.
BayWa re now provides operations and maintenance (O&M) services for over 3 GW of solar parks in Europe, it said.