German Wind Project Developer Enters U.S. Wind Market

German project developer BayWa AG has entered the U.S. wind market through its wholly owned U.S. subsidiary BayWa r.e USA LLC. BayWa r.e has acquired 70% of WKN USA LLC from Windkraft Nord USA Inc., a subsidiary of WKN AG.

A 30% stake of the shares in WKN USA will remain with WKN AG and the management. Due to the assumption of net liabilities of approximately $15 million, the acquisition of the company's shares does not result in the payout of a purchase price.

‘This acquisition underscores our strategy of expansion in a profitable future-oriented market, as there are huge growth opportunities for wind and solar in the USA,’ says Roland Schuler, a BayWa, a board member.

BayWa's project pipeline comprises around 110 MW in ready-to-build projects, plus a pipeline of 1 GW.

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