Investment fund Energy Infrastructure Partners agreed to acquire a 49% stake in BayWa r.e., a global renewables platform, from BayWa, a German company which operates in the agriculture, building materials and energy sectors, for $642m. "Our excellent relationship with BayWa as the majority partner, the impressive performance of BayWa r.e.’s management team and our proven record in large-scale renewable investments will allow us to jointly build out and develop this platform in the years to come. The strategic progression will enable institutional investors to profit from stable cash flows while accessing a renewable power generation portfolio of significant size," Roland Dörig, EIP Managing Partner.