New chief financial officer for BayWa r.e.

BayWa Renewable Energy has appointed Mihaela Seidl as chief financial officer and member of the management board.

Seidl (pictured) has more than 20 years of experience and has held leadership roles in multiple critical infrastructure industries including energy, IT and healthcare.

She has held executive and supervisory board positions and has a proven track record with expertise in capital markets, strategy and transformation, auditing, financing and M&A.

Chief executive of BayWa r.e. Matthias Taft said: "BayWa r.e. has seen incredible global growth, but the coming years promise to be even more transformative for our business.

We aim to triple the capacity of the projects we develop by 2026 and grow our independent power producer (IPP) portfolio to 3GW by 2028.

Mihaelas extensive experience will prove invaluable on this journey, and it is great to welcome her to the BayWa r.e. family.

Before joining BayWa r.e., Seidl worked as chief financial officer and managing director at ESG Group.

Prior to that, she was at General Electric for 15 years where she held multiple senior leadership positions, most recently as chief financial officer of the distributed power business.

The global renewable energy industry is evolving at pace, but if climate goals are to be achieved, the rate of renewable deployment must significantly increase, Seidl said.

She added: Im excited to become part of the global success story that is BayWa r.e. and looking forward to working with BayWa r.e.s many committed and passionate people, and supporting our company in unlocking its further huge growth potential.

2022 was another record year for BayWa r.e. with an increase in revenues to 6.5bn and EBIT growth to 230.2m.