CEO steps down at German renewable energy powerhouse
Departure comes shortly after recent change in ownership at German green power developer, which also last month secured major refinancing package
The CEO of German wind and solar power developer BayWa r.e. is leaving by mutual consent after more than 15 years at the company.
BayWa r.e. announced that Matthias Taft will leave at the end of next month.
Until a new CEO is appointed, his responsibilities will be shared among several executive board members.
Michael Baur, chair of the BayWa r.e supervisory board, thanked Taft for his “commitment to BayWa r.e. over the past 15 years, and for his invaluable support in helping to stabilise the company over the past twelve months.”
BayWa r.e. last month secured a €3bn ($3.4bn) refinancing package, securing the power producer funding until mid-2029.
That came just a few months after Swiss investment company Energy Infrastructure Partners (EIP) bought a majority shareholding in the company from previous owner BayWa, a German agriculture and construction group. EIP had previously been a minority shareholder.
Writing on LinkedIn, Taft said that it was “time to say goodbye” and that the decision was “reached by mutual agreement and on the best of terms.”
With the refinancing package agreed, Taft said BayWa r.e. has “regained a level of stability that lays the groundwork for the future.”
“The company is now in a position to focus on its operational transformation and, over time, seize new opportunities in the renewable energy sector once again.”
“Now it is time for others to bring in new ideas, perspectives and momentum. I am convinced the company is in good hands.”
BayWa r.e. reports having brought over 6GW of renewable energy online and it manages more than 10.5GW of assets.
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