Baywa to Spend $358 Million on Renewables, Sueddeutsche Says

Baywa AG, the German agricultural products and building-materials maker, plans to invest 250 million euros ($358 million) in renewable-energy projects as the country exits nuclear energy, Sueddeutsche Zeitung reported, citing Chief Executive Officer Klaus Josef Lutz.

Baywa expects its renewables unit to increase operating profit 19 percent to 26 million euros this year, Lutz told Sueddeutsche in an interview. Baywa wants to develop and sell solar, wind and biogas plants to investors in Europe, the U.S. and North Africa, he said.