German renewables developer BayWa r.e. AG on Thursday announced that it has acquired Solid Power Distribution s.r.o, a Czech wholesaler of components for solar PV systems and authorised distributor for major brands such as JinkoSolar Holding Co Ltd (NYSE:JKS) and GoodWe.
Details of the acquisition were not disclosed.
Solid Power’s website now welcomes visitors with a message from BayWa r.e. Solar Systems s.r.o.
Founded in 2015, Solid Power distributes solar energy equipment for residential and industrial purposes, serving the installer market in the Czech Republic and Slovakia. The firm has a brand new warehouse in Prague, an in-house training training centre and a technical department.
“The Czech solar market is starting to take off and with the acquisition of Solid Power Distribution, we are now ideally positioned,” said Frank Jessel, global director of solar trade at BayWa r.e.
According to the German company, the Czech government aims at 22% of renewable energy in total energy consumption by 2030, and offers public incentives for rooftop PV. BayWa r.e. believes that public support and new funds should help boost the domestic solar sector in the coming years.
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