29. Aug 2011

BayWa Continues to Expand its International Operations by Entering the US Wind Power Business

BayWa AG is expanding its international operations by stepping up its activities in the field of renewable energies: The trading group has entered the wind power project business in the USA through its wholly-owned US subsidiary BayWa r.e USA LLC. BayWa r.e. has acquired 70 percent of WKN USA, LLC from Windkraft Nord USA, Inc., a subsidiary of WKN AG. WKN AG is an international wind power project management company based in Germany in which, among other companies, Siemens Project Ventures GmbH (SPV), part of Siemens Financial Services (SFS), also holds shares. A stake of 30 percent in the shares in WKN USA will remain with WKN AG and the management. 

Due to the assumption of net liabilities of approximately USD 15 million, the acquisition of the company shares does not result in the payout of a purchase price. 

WKN USA has established itself as a well-known project developer of wind farms and, along with other projects, has built the USA’s highest wind park to date with a hub height of 105 meters for an Italian energy provider. 

BayWa has secured great potential for realizing onshore wind projects in a number of US federal states through this new investment in the USA. The project pipeline comprises around 110 megawatts (MW) in ready-to-build projects plus a pipeline of 1,000 MW. 

"Following our successful entry into the photovoltaic wholesale business at the end of last year, this acquisition will now enable us to expand our renewable energies activities in the USA to include wind power. We made a promise to our investors to grow our international operations and have now established ourselves in both the UK and the USA in the wind power and solar businesses”, explained Klaus Josef Lutz, Chief Executive Officer of BayWa AG. 

"This acquisition underscores our strategy of expansion in a profitable future-oriented market, as there are huge growth opportunities for wind and solar in the USA. We also see great potential in the partnership with WKN AG", added Roland Schuler, Board member responsible for BayWa’s Energy Segment. 

"The American renewable energies market is only at the beginning of leveraging its potential. In BayWa we have found a strong partner for the future when we will be realizing these growth opportunities," stated Florian Zerhusen, Chief Executive Officer of WKN USA.

Contact details

BayWa r.e. Wind, LLC
Suite 1470
4365 Executive Drive
San Diego, CA 92121

Phone: + 1 858 450 6800
Fax: +1 858 450 6801
Email: info@baywa-re.us