BayWa r.e. adds 148.5 MW to its asset management portfolio
Located across the UK, the wind farms have a combined installed capacity of 148.5 MW, which includes the 109 MW Beinneun windfarm in Scotland able to generate enough power for over 27,000 homes.
Oliver Niedhöfer, Managing Director of BayWa r.e. Operation Services Limited, commented: “We are very pleased to have been successful in a competitive tender and won the mandate to manage these windfarms for Octopus. This new contract builds on our existing relationship with Octopus, as we already operate their 29.7 MW Fraisthorpe wind farm, a project which BayWa r.e. built and sold to Octopus in 2016.
“As one of the largest providers of technical and commercial services for solar and wind farms in the UK, we are aligned in support of Octopus’ growth strategy. Performing the role of strategic partner for their operations, we ensure investments achieve their energy generation potential by optimising asset efficiency, and that all our work is delivered within a very safe working environment.”
The addition of the wind farms continues BayWa r.e.’s strong growth within the UK market taking its serviced portfolio up to over 1.3 GW. It also follows the purchase of UK based renewable energy service provider, Becon Consultancy. A leading service provider, Becon, strengthens BayWa r.e.’s capability for high voltage maintenance and switching services, landscaping maintenance and civil groundworks in the UK.
Matt Setchell, Head of Energy Investments at Octopus, commented: “We’ve constructed a portfolio of assets with an aim of consistently exceeding performance expectations, and with the support of BayWa r.e. we can ensure we optimise the performance of our portfolio on behalf of our investors. Octopus is building on its position as an investor and developer of renewable energy assets in the UK and Europe, and ensuring our operations are running as close to full potential as possible allows us to advance our growth strategy.”
The technical asset management role being undertaken by BayWa r.e. involves the day-to-day technical and commercial management of the projects, monitoring of technical faults, visual inspections as well as data analysis and technical reporting.
Niedhöfer added “With two of the wind farms located in the Scottish Highlands, these projects are an opportunity for us to extend our presence in Scotland and increase our investment in the digitalisation of our processes, helping to operate remote projects such as the Beinneun windfarm. Our high-quality approach combines the expertise and experience of our ‘on the ground’ engineers with the analysis and monitoring of our dedicated Control Centre in Munich.”
“Active throughout Europe, the US, Australia, Africa and Central America we are a truly global service provider. With over 5 GW of assets under operations management, our clients are able to tap into considerable experience.”
BayWa r.e. renewable energy GmbH (BayWa r.e.):
As a full subsidiary of BayWa AG, BayWa r.e. renewable energy GmbH groups together the activities of the solar energy, wind energy and bioenergy business units. With headquarters in Munich, BayWa r.e. is active worldwide. As a full-service partner with around 1,400 employees and more than 25 years of market experience, BayWa r.e. provides consulting services and develops, implements and manages projects in the area of renewable energies. The company also covers plant operation and maintenance. Other business activities encompass photovoltaic component trade and the purchase and marketing of energy from renewable sources.
Its parent company, BayWa AG, is an international trade and services company with the core segments of agriculture, energy and building materials.
About Octopus Investments
Octopus Investments is the largest non-utility investor in onshore renewables in the UK, and also the largest commercial solar player in Europe. Since 2011, the Energy Investments team has built market-leading positions as an investor and manager of solar, wind, biogas, biomass, landfill gas, and reserve power assets. Its mission is to address the inefficiencies of the energy market by offering smart technology-led solutions based on innovation and customer focus, helping to provide flexibility and decarbonise our energy system and our environment.
Octopus Investments, Octopus Healthcare, Octopus Ventures, Octopus Property, Octopus Energy and Octopus Labs are all part of Octopus Group. The Group currently manages more than £7.5 billion of funds under management, £1.8 billion of which is on behalf of institutional clients.