July 22 (Renewables Now) - German diversified group BayWa AG (ETR:BYW6) has joined the RE100 club after committing to cover all of its electricity needs only with renewable energy from 2020 onwards.
In order to achieve that goal, the company plans to sign power purchase agreements (PPAs) and invest in the group’s own renewable energy projects, among others, it said on Friday.
Munich-based BayWa operates in the agriculture, building materials and energy sectors. On the renewables front, it is active through its subsidiary BayWa re renewable energy GmbH, which has commissioned 2.5 GW of capacity. As part of the Climate Group’s RE100 initiative, it has joined more than 180 companies committed to 100% renewables power.
"Companies can only remain successful if they transfer global connections and developments into their actions and assume responsibility for the consequences of their business activities," says CEO Klaus Josef Lutz.