BKW has held a 60% stake in WET AG since 2016. It has now received the option of acquiring the remaining 40%. This will increase BKW’s market opportunities in the areas of trading services and long-term power purchase agreements (PPA) for the marketing of renewable energies.
Bern, 22 july 2020
WET AG is a leading, well-established service provider for the direct marketing of wind energy and photovoltaics in the area of position management in Germany. With its own trading system developed in-house, WET AG is able to respond to and capitalise on regulatory changes and highly volatile short-term markets in a flexible, agile and cost-efficient way.
In 2016, BKW acquired a majority stake of 60% in WET AG. After some initial difficulties, WET AG has experienced encouraging development over the past two years. BKW has therefore taken the opportunity to acquire the remaining 40% of the company. The aim of the full takeover is to strengthen BKW Trading in the core markets of Germany, France and Italy, with a particular focus on increasing market shares in the latter two countries. BKW also wants to assess the possibility of a geographical expansion to bring WET AG into the UK, Poland and Spain. Finally, the move will enable BKW Trading to strengthen its expertise in the marketing of small-scale, decentralised, renewable assets of third parties.
The two CEOs and previous minority shareholders will continue to manage WET AG. “Julian Göhler and Grigorii Toulskii are innovative entrepreneurs. Their company has major development potential in terms of expanding the market activities for new customer segments in the area of direct marketing,” says Othmar Schuler, acting Head of BKW Trading and Chairman of WET AG.