A spokesperson for Dulas told NewNet that while it will retain shares in the wholesale division the additional equity will allow it to fully capitalise on the recently introduced feed-in tariffs (FITs) in the UK for small-scale projects.
Dulas, which has its largest base in Wales will resume the remainder of its operations, which includes renewable energy consultancy and turnkey project capabilities in wind, hydro, biomass, solar PV and solar solutions unchanged by the deal. The new company will be known as Dulas MHH and will be officially launched this week.
BayWa is a wholly-owned subsidiary of BayWa and concentrates on all of the group’s activities in the field of renewable energy.
The newly-formed company will bring a guaranteed price competitiveness and technical experience from Europe’s largest photovoltaic market to the UK wholesale solar market, BayWa said.
Dulas’ turnover in 2010 stood at £22m and is said to have seen significant growth after April’s introduction of the FIT.
The investment will also secure jobs and tie them to the current base in Wales, as staffing numbers have risen to more than 100 from just 15 in the past ten years.
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