BayWa r.e. signs Power Purchase Agreement at Vine Farm solar park in England
At the beginning of May 2016, BayWa r.e. signed a long term Power Purchase Agreement (PPA) for the Vine Farm solar park, which was recently commissioned in the UK. This PPA allows for the sale of power generated by the park at a fixed price for a period of 15 years. The contractual partner is Nationwide Building Society. The Renewable Obligation Certificates (ROCs), issued alongside the power generated, will be sold to SSE Energy Supply Limited.
Jenny Groves, Nationwide’s Divisional Director for Branch & Workplace Transformation said: “I’m delighted with the agreement we have in place with BayWa r.e. By increasing the amount of renewable electricity we’re using, we’re able to continue to ensure we’re doing our bit to manage the environmental impact of our activities and run the Society in a responsible way.”
With 45 MWp, Vine Farm is the largest single solar project to be implemented by BayWa r.e. to date. All panels laid end to end would result in a total length of nearly 50 miles. The company's proprietary system design meets the most demanding standards in terms of optimised installation, subsequent maintenance effort and consistently high output. The solar park generates enough power for 11,500 households. The project, located around 12 miles south-west of Cambridge, was financed by BayWa r.e. itself and sales talks with institutional investors are already under way. Furthermore, BayWa r.e. will continue to be responsible for the technical and commercial operations management of the solar park.
Matthias Taft, Board Member of BayWa AG, responsible for the energy business, expressed his delight at the success of the company's activities in the British market: "In the UK, we have already installed a plant output totalling 390 MWp in the areas of wind and solar. Having an excellent working partnership with our suppliers and business partners also plays a key role for delivering projects in budget and in time and is a crucial factor for us in terms of implementing future projects in the UK."
BayWa r.e. renewable energy GmbH (BayWa r.e.):
BayWa r.e. renewable energy GmbH is a wholly-owned subsidiary of BayWa AG and combines the activities of the solar, wind, bio- and geothermal energy business sectors. BayWa r.e.’s core markets are Europe and the USA. The German based company is a "full-service-partner", employing around 950 and drawing on more than 20 years of experience in the market. Today, BayWa r.e. develops, realises, consults on and supports renewable energy projects. In addition, the company operates and maintains renewable energy plants. Further business activities include wholesaling PV components, as well as purchasing and trading in green energy.
BayWa r.e.’s UK subsidiaries are active in the solar, wind and bioenergy markets of the UK and Ireland. They focus on projects and O&M business and the distribution of PV components.
BayWa r.e.’s parent company, BayWa AG, is an international trading and service enterprise with core areas of business in the agriculture, energy and construction sectors.
Nationwide Building Society
Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.
Customers can manage their finances in a branch, via the mobile app, on the telephone, internet and post. The Society has around 17,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.
In 2008, Nationwide’s members voted for at least 1% of the Society’s profits each year to be donated to good causes. This has allowed Nationwide to support thousands of charities and community projects across the UK. In 2012, the ‘Living on your side’ strategy was launched - a five year Citizenship strategy which brings to life Nationwide’s brand promise to be on the side of its members. For Nationwide, Citizenship is about how it can use its products, services, campaigning and community investment collectively to deliver a greater social impact.
BayWa r.e. renewable energy GmbH
Phone: +49 89-383932-5817
Nationwide Building Society
Phone: +44 7545-735729