The sale of the 30 MWp Bracks solar project in Cambridgeshire is the second collaboration with UK pension fund Railpen, following the sale of the Tralorg wind farm in 2019, while the 80 MW Scurf Dyke project in northern England features a battery storage system. The buyer here is investment advisor and asset operator Recap Global Investors.
Both projects are currently under construction and are scheduled to go into operation in 2023. BayWa r.e. will take over the operation and maintenance as well as the commercial management of both projects for the next 20 years. The solar parks add to BayWa r.e.'s growing services portfolio in the UK, where the company currently operates and manages plants with a total capacity of over 2 GW.
Active in CfD auctions – project pipeline of 2.4 GW
Benedikt Ortmann, Global Director of Solar Projects at BayWa r.e., said, "Our rapid global growth is primarily due to the identification, development and sale of high quality renewable energy assets. The sale of these two projects demonstrates not only the strength of our team in the UK, but also the expertise of BayWa r.e. as a whole. Especially projects from the renewable energy sector and with energy storage options are currently in high demand on the market."
Last year, BayWa r.e. secured the rights to eight renewable energy projects in the onshore wind and solar sectors (including Bracks and Scurf Dyke) with a total capacity of over 330 MW in the fourth UK Contracts for Difference (CfD) auction. This brings BayWa r.e. UK's project pipeline to a current total of 2.4 GW.
More than 140 MW of wind and solar capicity sold
John Milligan, Managing Director, UK & Ireland at BayWa r.e. comments: "Reliable, economic and long-term supply of domestically generated energy is more important than ever in the face of the climate and energy crisis. The implementation of renewable energy projects is central to this. We are therefore pleased that we have been able to develop the two projects into attractive investment opportunities for our customers. These will make an important contribution to the UK government's goal of becoming carbon neutral by 2050. We will continue to contribute to the achievement of such sustainability goals through our work in the UK."
BayWa r.e. sold more than 140 MW of wind and solar capacity in France, Spain and Germany at the end of the year, in addition to its projects in the UK. (hcn)
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