The 41.7 MW solar park is the first solar investment for Commerz Real’s new impact fund Klimavest. It has a 10-year PPA in place with Statkraft which was signed earlier this year, despite the Covid-19 pandemic that has also struck the market for PPAs.
Paving the way for subsidy-free solar
The sale of Tordesillas showcases BayWa r.e.’s increasing success across the Spanish market, as it follows the sale of Don Rodrigo 2 solar farm to the Talanx Group, which was sold during the end of 2019.
Benedikt Ortmann, Global Director of Solar Projects at BayWa r.e. commented: “Solar power plants selling their production without any subsidy to the energy markets have become the new normal. This is the way to help reduce climate change. In Spain and globally, BayWa r.e. is playing a key role in paving the way for subsidy-free solar.”
Added more than 500 MW mature solar projects in 2020 in Spain
Rafael Esteban, Managing Director of BayWa r.e. Projects España S.L.U. adds: “We are continuing our rapid expansion in Spain, having added more than 500 MW of mature projects during 2020 which will be constructed in the next years. Following the sale of our Don Rodrigo 2 solar farm last year, we have strengthened our teams in Madrid and Barcelona, and are continuing to contribute to the rapid energy transition in Spain.”
Klimavest fund plans portfolio of 25 billion Euros
“We are very happy to add Tordesillas to Klimavest”, says Johannes Anschott, CEO at Commerz Real. “It perfectly fits with the funds strategy to significantly lower carbon emissions in Europe combined with an attractive return for our investors”. The recently launched Klimavest plans to build up a portfolio of about 25 billion Euros in renewable energy as well as sustainable infrastructure, mobility and forestry.
Innovative new single-axis tracker system
Following success seen at Don Rodrigo 2, the newly sold 91 ha solar farm also benefits from an innovative new single-axis tracker system. Developed by BayWa r.e. and Zimmermann PV-Tracker it is the first tracker to be self-powered by its own string modules. This removes the need for a battery system and improves its reliability.
BayWa r.e. with O&M services for solar man
BayWa r.e. will continue to operate and maintain the solar farm on behalf of Commerz Real when operational, which in the first year of full production, will generate 74 GWh of solar energy. This is enough power to meet the average annual consumption of approximately 18,800 households in Spain.
Close cooperation with Statkraft
The sale agreement follows the successful completion of a PPA with Statkraft, the third deal over Spanish assets BayWa r.e. has completed with Statkraft in the past 18 months.
BayWa r.e. is proactively looking for new solar and wind projects and developers to work with in Spain and Portugal.
Managing 8.5 GW assets globally
BayWa r.e. has brought 3.5 GW of energy online globally, while managing 8.5 GW of assets. The company is part of Munich based BayWa Group, a business with revenues of EUR 17.1 billion. (hcn)
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