March 25 (Renewables Now) – German renewables developer BayWa r.e. AG booked a strong improve in its earnings and revenues for 2021 helped by robust undertaking gross sales and development in photo voltaic buying and selling.
Earnings earlier than curiosity and tax (EBIT) rose 21.7% to EUR 135 million (USD 148.2m) final yr because the output of the photovoltaic (PV) modules offered surged by roughly 73% to greater than 2 GWp pushed by buoyant demand in Europe, the Center East and Africa, BayWa r.e. stated on Thursday.
At EUR 3.56 billion, revenues soared greater than 61.1% bolstered by plant gross sales with a complete output of 612.8 MW. Turnkey power crops accounted for about 74% of the plant gross sales.
BayWa r.e. is upbeat about its efficiency within the present yr and expects the political state of affairs to provide impetus to gross sales of PV parts within the photo voltaic buying and selling enterprise. The Munich-based developer plans to finish wind and photo voltaic tasks totalling 1.2 GW in 2022. Initiatives which were already accomplished are slated on the market within the first half of the yr.
Within the medium time period, the scaling of offshore wind operations ought to allow BayWa r.e. to spice up its undertaking enterprise to an annual quantity of three GW. The corporate’s development technique consists of additionally the event of a portfolio of personal photo voltaic and wind parks of two.5 GW which can permit it to market electrical energy as an unbiased energy producer.
(EUR 1 = USD 1.098)