BayWa r.e. sells 27 MWp solar park in England to MEAG, asset manager of Munich Re
Photo: Stephan Grabner
BayWa r.e. has sold Lynt Farm solar park with an output of around 27 MWp to MEAG, the asset manager of Munich Re. Closing took place on 31 December 2015.
The solar farm is situated approximately 40 kilometres to the southeast of Oxford and was realised by BayWa r.e last year. It was commissioned as early as March 2015, allowing the project to be accredited to the ROC scheme (Renewables Obligation Certificates). MEAG acquired 100 percent of the shares in Lynt Farm on New Year's Eve. "With this sale we are continuing our excellent working partnership with MEAG", commented Matthias Taft, Board Member of BayWa AG, responsible for the energy business. He went on to say: "For this project we could once again secure a long-term PPA, making this a significantly more attractive investment." The present PPA (Power Purchase Agreement) secures the sale of the power generated at a fixed price. As with previous projects of BayWa r.e., the purchaser is McDonald’s Restaurant Ltd. “With solar parks like this we are continuing to diversify our portfolio with sustainable investments characterised by limited risks and good returns. In doing so we are making use of the entire group’s expertise”, says MEAG’s Managing Director Holger Kerzel.
BayWa r.e. is responsible for the technical and commercial operations management of Lynt Farm. The operator is guaranteed a 99 % technical plant availability. Thereby the operator is benefitting from highest possible revenues.
Over the coming months, BayWa r.e will be realising further solar projects in Great Britain before the end of March, with a total output of around 130 MW. BayWa r.e. continues to be on the lookout for projects of under 5 megawatts to realise during 2016 and 2017.