BayWa r.e. has sold three British solar farms to Allianz Renewable Energy Fund II (AREF II) managed by Allianz Global Investors. Combined, the three solar farms have a total output of around 100MW.
BayWa r.e. has now successfully sold all of the solar projects which it completed in Great Britain in the spring of last year. Vine Farm (45MW) is part of the sale.
Matthias Taft, Board Member of BayWa AG, responsible for the energy business, comments: "The framework conditions for renewable energy in Europe have been challenging over the past decade, and the market has seen increasing consolidation. I am therefore very pleased to announce our largest project business transaction to date with the sale of 100MWp. With new, innovative services and the development of new markets in Europe, America and Asia, we are well prepared for future developments in the energy sector."
The three projects were financed through bank loans in the national currency from BayernLB. BayWa r.e. is still involved in the projects through technical and commercial operations management.