BayWa r.e. acquires a fifth consented UK wind farm project
Following the official opening of its new UK headquarters in Edinburgh last month, BayWa r.e. has continued to advance its position as a leading wind farm developer and constructor in the UK market through the acquisition of the consented Fraisthorpe Wind Farm.
The acquisition of the Fraisthorpe project, located in the East Riding of Yorkshire, will see the construction of a fifth wind farm by BayWa r.e. and forms an integral part of the company’s growth strategy. In due course the scheme will bring the total wind capacity constructed in the UK by BayWa r.e. to over 100MW. The acquisition follows an open market competitive sale process undertaken by the site’s developer TCI Renewables and will see BayWa r.e. move forward with the c.30MW project under the current ROC regime.
Matthias Taft, CEO of BayWa r.e. commented: “The acquisition of the Fraisthorpe project further strengthens BayWa r.e.’s presence in the UK market, which is key to cementing the BayWa r.e. objective of being a major player in the development, implementation and operation of renewable energy plants throughout Europe. With more than 1GW of wind farm assets already under management across Europe, we are pleased to see our success in the UK deliver further portfolio growth.”
Jim Cooney, Chairman of TCI Renewables, added: “TCI Renewables is pleased to see the Fraisthorpe project in the capable hands of BayWa r.e. We believe this is a strong project and the sale to BayWa r.e. prior to construction is a good outcome for both parties. TCI Renewables now looks forward to focusing its attention on its ongoing development pipeline and successfully delivering further consents in the UK market.”
About BayWa r.e.:
BayWa r.e. renewable energy GmbH, a wholly owned subsidiary of BayWa AG, is responsible for BayWa group’s renewable energy business. BayWa r.e. was founded in 2009 and is based in Munich. It acts as a holding company for various business interests in the areas of solar, wind energy, bio-energy and geothermal energy.
BayWa r.e.’s business activities range from project development and realisation to PV trade and consulting services. The company covers the entire spectrum of a professional technical plant support service, including maintenance. It can also undertake the commercial operations management of plants. The range of services also includes trading of renewable energy power, trading in biomethane as well as the sale of eco power and eco gas to private and commercial customers. The company has an international focus with its core markets in Europe and the USA.
BayWa AG (Munich) is a listed trading company operating on an international platform. Its main business sectors are agriculture, energy and building materials.
About TCI Renewables:
TCI Renewables is an independent renewable energy business that develops wind energy projects across the UK and North America. The company has a track record in developing both merchant wind projects for major clients and also medium to large scale green field sites. In the UK the Company has now gained over 154 MW of successful planning consents and in Canada the Company has developed 325 MW from greenfield through to gaining power supply contracts with both Hydro Quebec Distribution and the Ontario Power Authority