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BayWa r.e. predicts exceptional growth in 2022

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Following a successful 2021 with significant progress made across its projects, services, distribution and energy solutions business entities, BayWa r.e. predicts record growth and expansion in 2022 with the realization of more than 1 GW of new renewable projects, as the pace of the global renewable energy transition increases.

2021 Highlights:

  • Completed transaction with Energy Infrastructure Partners for 49% share in BayWa r.e. 
  • About 500 MW of wind and solar projects sold in 2021 across core global markets and 100 MW transferred to IPP portfolio
  • 6 major business acquisitions made including leading wind and solar developers, as well as deals to strengthen the company’s digital asset operations expertise and distribution business
  • 60% increase in revenues within solar distribution business 

2022 In focus: 

  • Predicted realization of more than 1 GW of wind and solar energy projects globally 
  • Continued expansion of offshore wind business with 1 GW already secured in Scotwind tender and further growth of onshore wind 
  • Even greater focus on innovative technologies, including green hydrogen and storage
  • Increase in subsidy-free projects, many of which will be realised through corporate Power Purchase Agreements (PPAs) with leading corporations  

Matthias Taft, CEO of BayWa r.e. AG commented: “2021 was a landmark year in the fight against the climate crisis, with global leaders uniting at COP26 and the renewable energy industry experiencing major growth despite challenges caused by factors such as the pandemic and global supply chain disruption. The industry is poised for further growth in 2022 as the pace of the renewable energy transition increases, and BayWa r.e. is set to play a significant role.

“The company achieved exceptional results during 2021 across all business entities, with the Solar Distribution business in particular having a record year. Growing our project pipeline, entering new markets, bringing a new investor on board and becoming an Independent Power Producer (IPP), have all contributed to that success. In 2022, we anticipate further strong growth with predicted project realizations of 1GW, continued expansion in offshore and onshore wind, more PPAs with leading corporations and even greater focus on evolving technologies such as green hydrogen and storage.” 

Success and Outlook by Business Entity 


BayWa r.e. sold about 500 MW of wind and solar energy in 2021, with projects located in core European markets: the Netherlands, France, Italy, Spain and Sweden. The company also commissioned its largest wind farm in Europe, the 94.6 MW Lyngsåsa wind farm in Southern Sweden. In the APAC region, BayWa r.e. successfully sold its Isohara solar farm in Japan. In the Americas, BayWa r.e. is managing the construction phase of the 98.8 MW Strauss wind project, the first on the California coast. It has also managed the development and construction of the 260 MWp Corazon solar park located in Texas.

Spain and the Netherlands will continue to be key markets for the solar business, with Eastern Europe beginning to pick up speed. While the Nordics and Spain will play a more significant role in the advancement of the onshore wind business, and the UK, France and Portugal as priority markets for offshore wind. BayWa r.e. has a project pipeline in EMEA of over 12.5 GW. In APAC, the company will be actively pursuing solar and wind projects with a total of 2.5 GW and is also looking into opportunities in the floating solar and wind sector. In the Americas, BayWa r.e. will continue developing its pipeline of over 5 GW of wind, solar and energy storage projects, as well as continued expansion of its O&M and EPC businesses across the region.   

Energy Solutions

It was a record year for the BayWa r.e. Energy Solutions business with 68 projects realised, compared with 54 in the previous year. Significant deals included signing the first solar corporate PPA in Poland with HeidelbergCement, as well as the largest solar VPPA for the packaging industry in Europe with Huhtamaki. In the U.S., BayWa r.e. announced a PPA with multinational company Hershey. BayWa r.e. also executed its largest PV rooftop project to date with global property expert Goodman. 
The company has achieved significant development in the APAC market, with new projects awarded in Q4. Further expansion in this market is expected in 2022 with PPA opportunities in Vietnam, Singapore and Malaysia upcoming. In the U.S., the company has established a market leadership in the C&I and utility scale EPC construction business in Hawaii and the wider Pacific region. The business will also solidify its success in the EMEA market in the coming year, with new customers and expanded client relationships. 


Achieving over 10 GW under operations and management was a key milestone for the Services business in 2021. Another significant highlight included the acquisition of Kaiserwetter’s IoT, asset intelligence and data science capabilities, to expand the company’s digital asset operations expertise. The Services business continued its focus on its digitalisation and repowering solutions throughout the year, with several successful repowering projects undertaken in core European markets: France, Italy, the UK and Germany. In the Americas, BayWa r.e. launched a new Remote Operational Control Centre (ROCC) based in California, providing around the clock coverage for its solar projects in the U.S. and Mexico. 

Digitalisation and revamping will remain a focus for the Services business in 2022, driving efficiency and sustainability for the industry. 

Solar Distribution

Despite ongoing supply chain disruptions, BayWa r.e. Solar Distribution sold multiple GW of modules and inverters, representing a significant increase from 2020. As a result, overall revenues for the Solar Distribution business increased by more than 60%.

At the beginning of 2021, the company celebrated the successful launch of novotegra GmbH as a new, independent mounting system manufacturer, as well as the establishment of an independent distribution business in Poland with its first warehouse and new offices in Kraków. A number of acquisitions strengthened the Solar Distribution business and allowed targeted growth in individual markets. In October 2021, novotegra GmbH broadened its position in the mounting system market, with the acquisition of PV Integ, specialised in systems for green and gravel roofs. In addition, the Solar Distribution division expanded further into Eastern Europe by acquiring a leading distributor in the Czech Republic in May 2021. At the end of Q4 2021, the acquisition of Beacon Solar, further strengthened the Solar Distribution’s market presence in the U.S.  

In 2022, the Solar Distribution business continues to benefit from increasing worldwide demand, driven by high electricity prices, ambitious renewable energy targets and strong incentives. In the coming years, BayWa r.e. plans to make acquisitions in regions where the business is underrepresented or where market leadership has not yet been achieved. 

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Felix Gmelin
Communication Manager
BayWa r.e. AG
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