BayWa r.e. sells wind farm to Goldman Sachs
BayWa r.e. has sold 100 % of the shares in the Anderson wind farm in Chaves County/New Mexico, USA to global investment firm Goldman Sachs. BayWa r.e. will continue to manage the technical operation of the wind farm, and will sell the generated power to the Western Farmers Electric Cooperative.
BayWa r.e. acquired the project rights in December 2013; construction began in September 2014. Just four months after the start of construction, BayWa r.e. sold it to Goldman Sachs when it commissioned the project in December 2014. The deal is proof of the success of the company's business model: the development and construction of turnkey renewable energy systems with the goal to sell them. Generally, BayWa r.e. continues to manage the technical operation even after the disposal.
"The sale of Anderson also marks the end of a successful 2014 for our US business – three years after BayWa r.e. entered this market, we already have five wind farms in our portfolio. These are either in the process of being built or are already operational," explains Mattias Taft, CEO of BayWa r.e. With the USA maintaining its position as one of the world's leading countries for wind power generation in 2014, BayWa r.e.'s US business continues to offer good prospects for the future.
BayWa r.e. renewable energy GmbH (BayWa r.e.):
BayWa r.e. renewable energy GmbH, a wholly owned subsidiary of BayWa AG, is responsible for the 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 energy, wind power, bio-energy and geothermal energy.
BayWa r.e.'s business activities range from project development and realisation to PV trade and consultation services. The company covers the entire spectrum of technical plant support services, including maintenance. It can also undertake the commercial operations management of plants. The range of services further includes energy trading of electricity from renewable sources, trading in biomethane, as well as the sale of green electricity 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, also based in Munich, is a listed trading company with an international focus. Core business sectors include agriculture, energy and construction.