BayWa AG, Munich, through its subsidiary BayWa r.e. renewable energy GmbH, acquired the photovoltaic distributor Solarmatrix based in the West Australian city of Perth and thus enters 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. formed specifically for this purpose.

MUNICH--(BUSINESS WIRE)--BayWa AG, Munich, through its subsidiary BayWa r.e. renewable energy GmbH, acquired the photovoltaic distributor Solarmatrix based in the West Australian city of Perth and thus enters 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. formed specifically for this purpose.

"After entering the market in South East Asia a good half year ago, we now continue our international growth strategy in the Southern hemisphere. Given its high levels of sunlight, Australia is a most interesting business field for photovoltaic energy," explained Klaus Josef Lutz, Chief Executive Officer of BayWa AG. BayWa intends to benefit from the long-standing experience in the Australian solar market and good customer loyalty of the former Solarmatrix to further increase market shares Down Under.

"The task at hand is to utilise our 25 years of solar experience and the broad range of services of BayWa r.e. as one of the largest system providers of PV systems in Europe to also establish our product portfolio on the Australian market," added Matthias Taft, member of BayWa's Board of Management responsible for conventional energy and the renewable energies business. The global competence network of BayWa r.e. will in future be complemented by all of the eight employees of the former Solarmatrix. This also includes the former managing director of Solarmatrix Durmus Yildiz who will now head the newly formed BayWa r.e. Solar Systems Pty Ltd.

BayWa r.e. will present itself and exhibit its comprehensive product and service portfolio for the first time at the "All Energy" trade fair in Melbourne on October 4 and 5.

BayWa AG

BayWa AG is a globally acting group with core competences in trade, logistics and complimentary services in the core segments Agriculture, Energy and Building Materials. BayWa AG, founded in 1923, has its head office in Munich. The business in the field of renewable energy has been bundled across the Group with BayWa r.e. renewable energy GmbH which trades both nationally and internationally. International activities in the renewable energy sector were hitherto focused on Europe and the United States, until now.

BayWa r.e. renewable energy GmbH (BayWa r.e.):

As a wholly owned subsidiary of BayWa AG, BayWa r.e. renewable energy GmbH combines the activities of the business areas solar energy, wind energy, biological energy and geothermal energy. Based in Munich, BayWa r.e. is trading globally. As a full service partner with approximately 950 employees and more than 25 years of market experience, BayWa r.e. develops, implements, advises and looks after projects in the area of renewable energy. The company also provides the operational management and maintenance of plants. Other business activities include the trade with photovoltaic components and the purchase and marketing of energy from renewable sources.