BayWa r.e. sells 18 MWp solar park in England to CEE
Photo: Stephan Grabner
BayWa r.e. has sold the Homestead solar park in England to CEE, an associated company from Hamburg. BayWa r.e. will take over the technical operations management of the park, which has a capacity of 17.7 megawatt peak. The plant is being financed by the Ärzteversorgung Westfalen-Lippe (ÄVWL).
Located near Towcester, around 10 miles south of Northampton, the project was completed in the spring 2015 and was connected to the public grid under the ROC scheme. The Homestead plant has now been transferred to its new owner. Matthias Taft, Board Member of BayWa AG, responsible for the energy business, explained: “With the sale of the fourth PV project to CEE, we are continuing our successful collaboration with this company. I’m also very pleased to announce that, in the coming weeks, we will connect further solar projects with a capacity of 130 MWp to the grid”. Detlef Schreiber, CEO of CEE added: “Together with BayWa r.e, CEE has been able to expand its PV portfolio in Great Britain to 60 MW. We look forward to continuing our successful partnership.” This brings the total CEE portfolio to 528 MW.
As with Aston Clinton, the UK solar park sold by BayWa r.e. last December, the company was able to secure a long term Power Purchase Agreement (PPA) for the project. This PPA provides for sale of the power generated at a fixed price over a period of 20 years. The purchaser is once again McDonald's Restaurant Ltd.
BayWa r.e. is highly active in the British market. To date, the company has constructed solar and wind farms in the UK with a total capacity of over 260 MW. The Vine Farm solar park (45 MWp), currently under construction in eastern England, is the largest single project that BayWa r.e. has accomplished in the solar sector to date. BayWa r.e. continues to be keen on acquiring projects below five megawatts from local UK developers, with particular interest being focused on Northern Ireland.
CEE (CEE Holding GmbH & Co. KGaA):
CEE based in Hamburg, is a company specializing in renewable energy investment company with 1,2 billion euros in assets under management. It will be placed in power generation projects primarily in the areas of wind energy and solar, as well as in appropriate technology companies equity investments. With RWE Innogy CEE formed a strategic partnership in the field of technology investments in young companies. Partner of CEE are few, based in Germany, institutional investors and family offices that have long-term interest in the renewable energy market. CEE is led by the Bankhaus Lampe KG belonging lamp Equity Management GmbH, which has more than ten years experience in the financing of renewable energy. For more information: www.cee-holding.de
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, bioenergy and geothermal energy.
BayWa r.e.'s business activities range from project development and realisation to PV trade and consultation services. BayWa r.e 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 the energy trading of electricity from renewable sources, trading in biomethane, as well as the sale of green power and green 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.