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Capcora advises
BayWa r.e. AG on the sale of BayWa r.e. Power Solutions S.r.l. to
Fervo S.r.l.
We’d be happy to provide you with more details about our case. Feel free to reach out to us via email or phone, and we’ll gladly return your call at a time that works best for you.
Francesca Nuccioni
Tel.: +49 (69) 348 710 130
Mob.: +49 (173) 96 71 588
BayWa r.e. AG (BayWa r.e.) has successfully completed the sale of 100% of the share capital of BayWa r.e. Power Solutions S.r.l. (Power Solutions), its C&I solar PV Engineering, Procurement, and Construction (EPC) platform to Fervo S.r.l. (Fervo). The Power Solutions entity is located in Verona, Italy. The transaction volume remains undisclosed. Capcora acted as exclusive sell‑side M&A adviser to BayWa r.e. throughout the transaction.
Through this transaction, BayWa r.e. continues to implement its strategic roadmap in the European market, focusing on value creation and the optimisation of its renewable platform. The sale ensures that Power Solutions will continue pursuing its growth under Fervo, a player with a strong local presence and long‑term commitment to distributed solar and energy efficiency solutions.
Capcora acted as exclusive sell‑side M&A adviser to BayWa r.e., supporting the company throughout the entire transaction process – from investor outreach through negotiation and closing. The transaction further strengthens Capcora’s established track record in the solar PV segment, where the firm has advised on numerous transactions in recent years. It also highlights the growing attractiveness of the Italian EPC sector for domestic players, underpinned by strong demand and solid long‑term market fundamentals.
This latest closing marks another milestone in the cooperation between Capcora and BayWa r.e., reinforcing a shared focus on high‑quality asset optimisation and strategic market positioning.
Dr. Daniel Gaefke, COO at BayWa r.e., commented: “Power Solutions represents a strategic cornerstone for BayWa r.e., having been established as a greenfield initiative and built from the ground up. Under the leadership of Managing Director Francesca Manso, Power Solutions has experienced accelerated development in recent years. We are pleased to see the entity transition to Fervo, whose strong operational expertise and local market presence will provide a solid foundation for continued growth and further contribution to Italy’s energy transition. We appreciate the constructive collaboration with Fervo throughout the process.”
Alessandro Belloni, Founder & CEO of Fervo Group and Gessica Balsamo, CFO of Fervo Group, stated: “This acquisition represents a compelling strategic fit for Fervo, reinforcing our commitment to expanding our activities and strengthening our footprint in the Italian renewable energy market. Power Solutions brings a skilled team and a solid market positioning, which constitute the foundation for the company’s next phase of development. Leveraging our operational expertise and local presence, we aim to accelerate growth, enhance value creation, and further contribute to the country’s energy transition objectives.”
Francesca Nuccioni, Director at Capcora, commented: “We are proud to have supported BayWa r.e. in identifying and securing the right industrial partner for Power Solutions. Fervo represents a highly complementary industrial fit, with the operational capabilities, local positioning, and long-term vision required to successfully integrate Power Solutions and unlock its next phase of development. We thank all parties involved for the constructive and disciplined collaboration throughout the process.”
BayWa r.e. received legal support on the transaction from Simmons & Simmons, with a team led by Partner Tommaso Tomaiuolo, supported by Supervising Associate Andrea Pototschnig and Lawyer Giorgio Bianchi.
EY Law has advised Fervo handling the negotiation of the contractual documentation, with a team led by Partner Mattia Petrillo, supported by Senior Manager Alessandro Bortolussi and Associate Martina Capuano.
About BayWa r.e.
At BayWa r.e. we r.e.think energy – how it is produced, stored and can be best used to drive forward the renewable energy transition that is essential to the future of our planet.
We are an international project developer of wind, solar and battery storage (BESS) projects. Our activities include the planning, development and construction of these projects, as well as their operation and maintenance, and energy trading. BayWa r.e. is also a leading global supplier to the solar distribution market. In total, we have successfully brought online more than 6 GW of renewable energy.
Through our Climate Contribution approach, which aligns with the best practices for climate action and the Paris Agreement, we are taking significant steps forward on our own sustainability journey.
We have two joint shareholders: BayWa AG is a global business founded in 1923 that provides innovative and sustainable solutions in agriculture, building materials and energy sectors. Energy Infrastructure Partners is a market leader in energy infrastructure investment that manages over €7 billion from global investors.
BayWa r.e. Power Solutions S.r.l. is an Italian subsidiary of the BayWa r.e. AG group. Based in Verona, the company specialises in designing, building and operating advanced solar PV solutions for commercial and industrial (C&I) customers across Italy. Its portfolio includes rooftop systems, carports and integrated renewable power solutions tailored to industrial energy needs.
About Fervo Group
Headquartered in Nova Milanese, Fervo Group is a group of companies specialized in technical services and energy management company driving the ecological transition in real estate through technological innovation, deep expertise, and strategic consulting. Fervo promotes the decarbonization of the real estate sector through the development and implementation of carbon footprint reduction plans. With a strong presence in Italy, Fervo has operational branches in Saudi Arabia.
About Capcora
Capcora is an independent financial advisory boutique dedicated exclusively to accelerating Europe’s energy transition. Since its foundation in 2015, the Frankfurt-based has been advising leading developers, IPPs, investors and infrastructure players across the renewable energy sector. Combining deep sector expertise with strong execution capabilities, Capcora supports clients on sell-side and buy-side M&A transactions (assets and corporates), as well as the structuring and raising of sophisticated capital solutions for scalable energy and infrastructure platforms.
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