The acquisition will enable BayWa r.e. to expand its solar and wind pipeline to 5GW in the Americas
BayWa r.e. has announced the acquisition of Enable Energy, a California-based solar and energy storage solutions provider, for an undisclosed amount.
Through the acquisition, the company is expected to expand its skills in offering engineering, procurement and construction (EPC) and operations and maintenance (O&M) support.
BayWa r.e. now has 750MW in solar and wind projects under construction across California, North Carolina, Texas and Mexico.
It expects to surpass 1GW in utility-scale installations in the Americas by the end of this year.
The acquisition of Enable Energy will further push BayWa Re’s total pipeline of solar and wind projects to more than 5GW in the region.
BayWa r.e. USA managing director Axel Veeser said: “Enable Energy is one of the fastest-growing solar and energy storage solutions providers in the U.S., with a significant installation base, healthy project pipeline and expanding O&M business.
“The addition of EEI to the BayWa r.e. Americas family will create multiple collaborative opportunities with our existing businesses and improve our position in strategic regional and vertical markets, such as commercial solar-plus-storage.”
BayWa r.e. sees multiple synergies from the acquisition
Founded in 2014, EEI claims to have built more than 76MW of rooftop and ground-mount commercial, industrial, and utility solar projects.
The company is said to have worked with local and regional businesses, Fortune 500 companies and Federal government entities on projects in California, Hawaii and other locations.
The acquisition of EEI is expected to result in multiple synergies for BayWa r.e., including capabilities in serving enterprise C&I customers and utilities with turnkey services.
Enable Energy CEO Brad Ferrell said: “By combining our US C&I focus and extensive expertise with BayWa r.e., we will be able to execute on a significantly expanding project pipeline and leverage the strength of our new parent company’s resources and global brand.
“We look forward to expanding our geographic reach, building our relationships with strategic clients, strengthening our O&M offering, and working together with BayWa r.e.’s already impressive team to support their global client base with facilities in the U.S.”