BayWa r.e., a global renewable energy company based in Munich, has acquired Future Energy, a Victorian-based renewable energy developer.
The acquisition of Future Energy marks the first investment into the Australian onshore wind sector for the company and further cements its position in the country’s growing renewable energy sector.
“Our first investment in the onshore wind market in Australia is a really important step in consolidating our business model across Solar & Wind Projects, PV Trade and Operations Management Services,” said Katy Hogg, director of BayWa r.e. Australia Pty Ltd. “Greater scale and project diversity brings benefits for our investors, PPA customers and funding partners.”
BayWa r.e. expects to be exporting electricity from the first few wind projects by the end of 2018, with a view to acquiring, developing and implementing additional projects across Australia in the coming years.