Business Wire reported that BayWa AG, Munich, through its subsidiary BayWa r.e. renewable energy GmbH, has acquired the Australian PV distributor Solarmatrix of Perth, Western Australia and thus entering the solar module and components business in Australia. The activities of Solarmatrix will be continued with the company BayWa r.e. Solar Systems Pty Ltd. that was formed specifically for this buyout.
According to Klaus Josef Lutz, CEO of BayWA AG, after entering the South-East Asian market 6 months ago, they now continue their international growth strategy in the Southern hemisphere. And given Australia’s high levels of sunlight, the country is a most interesting business field for solar energy.
Matthias Taft, a member of BayWa’s board of management, said that the task at hand is to take advantage of their 25 years of solar experience and the broad range of services of BatWa r.e as one of the largest PV providers in Europe and to establish their product portfolio in the Australian market.
Solarmatrix is well established as an off and on-grid project developer and distributor. Solarmatrix Managing Director Durmus Yildiz is from Germany and will stay on to run and manage the new company BayWa r.e. Solar Systems Pty. Ltd. Solar matrix has supplied and deployed German-made solar components from key suppliers like SolarWorld and SMA for a number of years.
Solarmatrix has developed a wide range of C&I rooftop projects in Australia in the urban and rural areas. The company has also built up considerable expertise and experience in designing, supplying and installing off-grid solar and storage arrays to remote or far-flung communities.