A German multinational BayWa re Solar Trade Business announced its entry into the Brazilian photovoltaic energy market with the acquisition of Ribeiro Solar. The value of the operation was not disclosed.
Currently, BayWare is one of the world's largest distributors of solar components. Building on its international presence in more than 30 countries, the company provides integrated solutions for installers and technical companies in residential, commercial and industrial photovoltaic projects.
“Ribeiro Solar’s experience and strong market presence will be instrumental in driving our success in Brazil, and we look forward to combining our strengths to drive the adoption of solar energy across the country,” he said Daniel Marino, director of Solar Commerce in the Americas at BayWare
Headquartered in Curitiba, Paraná, Ribeiro Solar has distribution centers in Paraná, Rio Grande do Sul and Pernambuco, allowing it to store and manage stock for customers across Brazil. Ribeiro Solar will benefit from the global reach of Baywa re's supply chain, continuing to provide the best support to Brazilian installers.
“We are very grateful for the opportunity to be part of the BayWare team, a renowned multinational company in the solar market,” said Liciany Ribeiro, CEO of Ribeiro Solar.
“The partnership reflects our joint commitment to themes such as growth, innovation and technical excellence, bringing benefits to customers. Together, we will have a major impact on the renewable energy market, delivering added value and sustainable solutions”, concluded the executive.
BayWa's presence in the international market
Acting as a service provider, distributor and solution provider, the multinational has installed more than 5 GW of energy and manages more than 10 GW of assets. In addition, it is also an independent energy producer and is expanding its energy trading business.
BayWa operates with 100% carbon neutrality and its shareholders are BayWa AG, a €27,1 billion global company, and EnergyInfrastructure Partners, leader in investments in energy infrastructure.
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