BayWa r.e. Solar Trade is acquiring Brazilian solar developer Ribeiro Solar, launching product distribution for the renewable energy major in the Brazilian market.
In the weeks ahead, the acquisition process will be finalised.
Ribeiro Solar is a solar distribution company operating exclusively in Brazil and opens the doors for the solar trading company into Brazil’s market, strengthening its international solar distribution presence.
BayWa r.e. Solar Trade provides solutions to installers and technical companies for residential, commercial and industrial-scale PV projects.
“With a shared commitment to clean energy and empowering solar installers, BayWa r.e. Solar Trade and Ribeiro Solar are strategically aligning their expertise to drive the adoption of clean energy solutions,” states the companies in a joint press release.
BayWa r.e. Solar Trade has an international presence in more than 30 countries; the integration combines Ribeiro Solar’s Brazilian market knowledge and installer network with BayWa r.e. Solar Trade’s record of serving over 17,000 international solar contractor customers.
“The expansion of BayWa r.e. into the Brazilian market compliments the company’s continued international growth,” added Frank Jessel, global director of Solar Trade at BayWa r.e.
“Ribeiro Solar’s deep-rooted expertise and strong market presence will be instrumental in driving our success in Brazil, and we look forward to combining our strengths to accelerate the adoption of solar energy across the country.”
Ribeiro Solar is headquartered in greater Curitiba in the south of Paraná with warehouse distribution hubs in Paraná, Rio Grande do Sul and Pernambuco.
BayWa r.e.’s global supply chain reach will enable Ribeiro Solar to benefit from global scale, states the release.
“We are very grateful for this opportunity to be a part of the BayWa r.e. team, a respected global player in the solar market. This partnership reflects our shared commitment to growth, innovation and technical excellence, which in turn will benefit our valued clients.
“Together, we will make a greater impact in the renewable energy market, delivering enhanced value and sustainable solutions,” added Liciany Ribeiro, CEO of Ribeiro Solar.
Earlier this year in March, BayWa r.e. announced the potential sale of Baywa r.e. Solar Trade as part of a strategic realignment.