BayWa r.e. has sold the Pingewood solar farm, close to the town of Reading in Berkshire, England, to SUSI Renewable Energy Fund II. The sale was closed on 24. September.
The installation, with an output capacity of about 15MW, was completed in the spring and supplies electricity to the public grid under the ROC scheme. It was built on a former landfill, adding value to this brownfield conversion site. The solar farm produces some 15,000MWh every year, supplying sufficient power for 4,600 households. BayWa r.e. continues to be responsible for the plant's technical operations and management.
"This is the first of four solar farms that we shall be selling this year in Great Britain," said Matthias Taft, Energy Director of BayWa AG and Chairman of the BayWa r.e. board. "We were able to secure a long-term Power Purchase Agreement (PPA) for the project, which made the investment even more attractive." The PPA provides for sale of the power generated at a fixed price over a period of 20 years. The purchaser under the agreement is McDonald's Restaurants Ltd, which is thus able to supply its restaurants with renewable electricity.