BayWa r.e. and MEAG strengthen relationship
MEAG currently manages around €268 billion in global assets for Munich Re and ERGO as well as private and institutional clients. With a strong focus on investing in infrastructure including renewable energy, this marks the second series of renewable energy projects that BayWa r.e. is managing for MEAG in the UK; with BayWa r.e. already undertaking the operation and maintenance (O&M) on four UK solar farms, totalling 55 MW.
Oliver Niedhöfer, Managing Director of BayWa r.e. Operation Service Limited, commented “Adding these wind farms to our portfolio comes at an exciting time for our service business as we continue to expand across the UK. Today, we have over 1.9 GW of solar and wind power already under management within the UK and Ireland, with a further c. 500 MW in our development and construction pipeline.
“We’re very pleased to be able to grow our portfolio with MEAG and to have the opportunity to support their business and sustainability goals. We always strive to provide a complete and unmatched service in terms of quality and professionalism and winning this additional contract is testament to that.”
BayWa r.e. will take control of the sites in August which will see the three wind farms serviced from their UK offices and monitored from the state-of-the-art control centre in Munich.
Holger Kerzel, MEAG’s Managing Director, said: "MEAG is investing on behalf of Munich Re Group’s infrastructure investment program aiming at sustainable investments with an optimized risk-return profile.
The UK is an important market for us and having these wind farm projects in the safe hands of BayWa r.e., is a great reassurance for us.”
With three offices across the UK and over 80 team members in various locations in the United Kingdom, BayWa r.e. is currently following an ambitious digitalisation strategy. When launched, new digital systems will allow for better transparency, improvements in efficiency of renewable energy projects and new asset management business models.
The three wind farms are:
- Scout Moor, Lancashire, England – 65MW
- Bagmoor, Lincolnshire, England – 16MW
- Tir Mostyn, Denbighshire, Wales – 21.25MW