BayWa r.e. Announces Long-Term Restructuring Financing and Workforce Reductions
BayWa r.e. has secured an extension of its bank and guarantee lines until December 2027 as part of its restructuring plan. The company will focus on renewable energy project development and becoming an Independent Power Producer (IPP), targeting two gigawatts of annual project volume and expanding its IPP portfolio to over one gigawatt by 2026.
As part of its transformation program, "re power", BayWa r.e. plans to streamline operations, centralize key functions like finance and HR, and reduce its workforce by around 350 positions to approximately 1,500 employees by 2027. Additionally, up to 2,400 employees in non-core business areas, including photovoltaic wholesale, may be affected by potential sales, portfolio adjustments, or market exits.
The Swiss investor Energy Infrastructure Partners (EIP), a key shareholder since 2021, is in advanced talks with BayWa r.e. regarding a potential capital increase, which could result in a change of control by Q1 2025.
Chief Restructuring Officer Felix Colsman emphasized the importance of implementing the transformation measures to stabilize the company and achieve a market-standard EBITDA margin across all operations.
Maxeon Solar and Tongwei Solar Settle Patent Dispute in Germany
Singapore-based Maxeon Solar Technologies Ltd (NASDAQ: MAXN) and Tongwei Solar (Hefei) Co Ltd have reached a settlement and cross-licensing agreement to resolve their patent infringement lawsuit in Germany.
Background: In June 2023, Maxeon filed a lawsuit in the Düsseldorf District Court, alleging Tongwei infringed on a European patent related to Maxeon’s shingled solar cell and module technology.
Resolution: The agreement, effective November 30, 2024, includes cross-licensing provisions, allowing both parties to leverage each other's technology.
Significance: Maxeon emphasized the importance of protecting intellectual property rights to ensure sustainable growth and innovation in the solar industry.
This resolution aims to foster market confidence in continued investment in research and development while avoiding prolonged legal disputes.
Enercity buys energy trading and other business areas of Hanwha Q-Cells
Enercity's acquisition of Hanwha Q-Cells' energy trading business, photovoltaic systems, and the cloud platform Lynqtech marks a significant strategic expansion in renewable energy and digital services. Here are the key highlights:
Energy Trading and Services Acquisition: Enercity is taking over the energy trading and private customer service segments of Hanwha Q-Cells GmbH. Existing contracts will remain unchanged and continue under the same conditions.
Photovoltaic Systems Integration: Enercity acquires photovoltaic systems with a cumulative capacity of 20 MW, contributing to its renewable energy portfolio. This aligns with Enercity's goal of achieving 100% climate-neutral electricity production by 2035.
Lynqtech Cloud Platform Ownership: Enercity Digital GmbH, a subsidiary of Enercity, previously held a 35% stake in Lynqtech GmbH. With this acquisition, Lynqtech is now fully owned by Enercity, enhancing its digital capabilities for sales and billing processes.
Strategic Renewable Focus: More than 50% of Enercity's electricity already comes from renewable sources, with plans to accelerate this transition further.
This move positions Enercity strongly in both renewable energy expansion and digital infrastructure for energy management.
Blue Elephant Energy Acquires 88 MWp Solar Portfolio in the Netherlands
Hamburg-based Blue Elephant Energy GmbH has acquired an 88 MWp solar project portfolio from Dutch developer TPSolar.
Project Details:
The portfolio includes three photovoltaic (PV) projects at various development stages.
Largest Project: 50 MWp plant in northeastern Netherlands, operational by 2025/2026.
Second Project: 29 MWp plant in southern Netherlands, operational by Q2 2025.
Smallest Project: 9 MWp plant in southern Netherlands, already connected to the grid.
Environmental Impact: Once fully operational, the three plants will generate enough electricity to avoid 48,830 tonnes of CO₂ emissions annually.
Portfolio Expansion: Blue Elephant’s total renewable energy capacity now stands at 1,730 MWp across nine countries, with 717 MWp located in the Netherlands.
This acquisition reinforces Blue Elephant’s commitment to sustainable energy expansion in Europe.
Enstall Acquires Schletter Group to Expand Solar Mounting Solutions Portfolio
Dutch rooftop solar mounting provider Enstall has successfully acquired Germany’s Schletter Group.
Deal Overview:
Financial terms were not disclosed.
Avenue Capital Group and Robus Capital, Schletter’s shareholders, will remain minority shareholders in Enstall.
Strategic Benefits:
Enstall’s portfolio now includes ground-mounting systems (trackers and fixed-tilt) and agrivoltaic solutions.
Expanded offerings for rooftop solar tools.
Enhanced research and development investment.
Global Presence: Schletter has installed 55 GWp of mounting systems worldwide, underscoring its strong global footprint.
The acquisition aims to deliver superior customer service, a broader product range, and innovative solutions to meet the evolving demands of the solar energy sector.
1Komma5° closes 150 million euro “pre-IPO” financing round
German energy start-up 1Komma5° secured €150 million in a "pre-IPO" funding round, with CalSTRS, one of the world's largest pension funds, as the lead investor. Founder Philipp Schröder emphasized that an IPO is being considered for 2026, aiming to ensure long-term independence and enable customers to become co-owners.
The funds will accelerate the growth of Heartbeat AI, the company’s energy management platform, positioning it as a leading solution for virtual power plants in Europe and Australia. Despite missing 2024 targets due to market challenges, 1Komma5° remains profitable and holds €250 million in existing orders for the coming year.
Additional investors include G2 Venture Partners, Norrsken, Hamilton Lane, b2venture, Eurazeo, eCAPITAL, and existing shareholders. The company surpassed a $1 billion valuation in 2023, with founders still holding over a third of the shares.
2040 Renewables Target
The European Commission plans to propose a 2040 renewables target alongside a new emissions reduction goal of 90%. EU Energy Commissioner Dan Jørgensen hinted that the renewables share in electricity generation could also aim for 90%.
However, energy ministers remain divided, with nuclear power emerging as a contentious issue. Pro-nuclear countries, led by France, are pushing for nuclear energy to count toward the renewables target, arguing it would ease their path to compliance. Conversely, anti-nuclear countries like Germany and Austria strongly oppose this inclusion.
Jørgensen emphasized the importance of both renewables and nuclear in achieving climate goals but rejected the idea of combining them into a single target. The debate underscores ongoing tensions in shaping Europe’s future energy policy and balancing diverse national energy strategies.
Dispatch from the European Union | December '24
EU energy ministers concluded their final Council meeting of the year, where new EU Energy Commissioner Dan Jørgensen addressed the ongoing energy price concerns.
Jørgensen, formerly Denmark's climate and energy minister, rejected claims that renewables are driving high energy costs, emphasizing that the issue stems from insufficient deployment of renewable energy sources, not their presence.
The meeting highlighted growing political tensions surrounding the EU's Green Deal. Amid rising far-right influence and internal divisions within the centre-right European People’s Party (EPP), support for ambitious climate policies appears fragile.
Commission President Ursula von der Leyen faces pressure to scale back Green Deal initiatives, with recent delays to the EU's anti-deforestation law and potential challenges to the planned 2035 combustion engine phase-out reflecting this shift.
The EU's ability to maintain its climate ambitions amid geopolitical challenges and shifting domestic political landscapes remains uncertain as the bloc heads into a critical year.
DCC Energy Appoints Christian Heine as Managing Director for Germany
DCC plc has appointed Christian Heine as Managing Director for DCC Energy in Germany. Bringing extensive experience from the energy, utility, and local government sectors, Christian will lead the company’s efforts to expand its market share and relevance in Germany’s energy sector.
This appointment marks an exciting phase as DCC Energy focuses on building a cleaner energy future for its customers. The company warmly welcomes Christian and looks forward to achieving significant growth under his leadership.
More than one million new photovoltaic systems with a total output of 16 gigawatts have been registered for 2024
Germany’s photovoltaic (PV) expansion in 2024 has exceeded expectations, surpassing the federal government's annual target of 13 gigawatts (GW) with a remarkable 16 GW of newly registered capacity. Below are the key takeaways:
Key Highlights of the 2024 Photovoltaic Expansion
Total New Installations:
1,027,659 new PV systems were registered in 2024.
Total installed capacity: 16,060 MW (16.06 GW).
Growth Compared to 2023:
2023 saw 1.08 million new systems with a total capacity of 15,316 MW (15.3 GW).
Open-space systems accounted for 5,955 MW in 2024, showing a shift in favor of utility-scale solar plants.
System Breakdown (2024):
Open-space systems: 5,955 MW from 2,173 new plants.
Rooftop and facade systems: 9,441 MW from 590,000 new systems.
Balcony (plug-in) solar systems: 431,811 new systems with 421.9 MW capacity.
Shift Towards Utility-Scale Projects:
Open-space systems have become a dominant driver of growth, reflecting increased investment in large-scale solar infrastructure.
Rooftop solar installations have declined by 25% in numerical terms due to decreased demand and strained installation capacity.
Balcony Solar Systems Boom:
Small plug-in balcony systems have seen an impressive surge, nearly doubling from 275,747 systems (2023) to 431,811 systems (2024).
Future Targets and Outlook
The federal government aims for 18 GW of new capacity in 2025 to reach the overall goal of 215 GW installed capacity by 2030.
Continued emphasis on open-space solar projects and supportive policy measures will be essential for meeting these targets.
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