BayWa r.e.: Power purchase agreements for five solar parks with 83 MW in the UK

10/7/16, 2:00 PM -

BayWa r.e. signed five power purchase agreements (PPAs) for solar parks with 83 MW in southern England and Wales. The contractual partner is the energy trading company Neas Energy.

Solar park of BayWa r.e. in UK - the company just signed long term PPAs for a period of 15 years.

At the end of September, the company signed the long term PPAs, which allow for the sale of power generated for a period of 15 years. Matthias Taft, Board Member of BayWa AG, responsible for the energy business, is convinced that such long-term PPAs play an important role in the future.

Total PPAs for PV plants with 270 MW

"With our international projects, we are making the most of various market tools to promote renewable energies. For example, altogether we have been able to conclude PPAs in the UK for PV plants with a total output of 270 MW. This allows us once again to demonstrate how quickly and flexibly we are able to respond to changing market conditions. This not only strengthens our profile as a full service provider, but also makes our assets more attractive”, Taft said.

Planned sales end of 2016

All five solar parks with a total capacity of 83 MW have achieved 1.3 ROC accreditation (Renewables Obligation Certificates). BayWa r.e. pre- financed the projects itself and has been managing the technical and commercial operations of the plants since their turnkey construction and commissioning in March 2016. The company plans to sell the solar parks by the end of 2016.

Further projects in UK and Ireland planned

"Interest in our plants from institutional investors confirms the success of our activities in the British market, despite the new and challenging conditions," Matthias Taft explained. "Further projects in the UK and Ireland are currently at the planning stage." (HCN)

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