Great finish to 2018 and hitting the ground running in 2019
In total, the company sold 21 renewable energy projects with a total capacity of about 450 MW by the end of 2018. BayWa r.e.’s strong international project business will contribute significantly to the positive standing of BayWa AG.
“We are extremely pleased with the success of our international project business and having exceeded the results of the previous year, with multiple sales in the fourth quarter of 2018,” commented Matthias Taft, BayWa AG Board Member. “Together with our partners, in 2018 we managed to make an important contribution to the development and expansion of renewable energy projects worldwide and contribute decisively to the progress of the energy transition.”
One of the largest projects sold was the solar park Don Rodrigo, 20 km south of Seville.
The 175 MWp plant was sold to MEAG, asset manager of Munich Re and ERGO, and is the first of its kind in Europe to be realized without any state subsidies. The power is being sold through a 15-year Power Purchase Agreement (PPA) with the Norwegian energy company Statkraft.
In addition, BayWa r.e. sold multiple wind projects in 2018, such as the French Saint-Pierre-de Julliers plant with an estimated annual production of more than 23,000 MWh, and the Scottish wind farm Wathegar 2, comprising nine turbines with a capacity of 18.5 MW. In Sweden the company facilitated the construction of the 23.4 MW Slageryd wind farm by providing development and turnkey EPC services as well as securing the long term investor.
A highly successful year was rounded off with the sale of the 41 MWp Lacs Médocains solar plant near Bordeaux, and the sale of Sherwood, BayWa r.e.’s first biomethane plant in the UK, to the environmental infrastructure investment fund JLEN.
And BayWa r.e. is already getting off to a great start in 2019. “Already in the first half of 2019 we will be able to conclude additional project sales," explains Matthias Taft. "Furthermore, our project pipeline for the next years is filling up well and includes a projected total capacity of 10 GW in the wind and solar sector.”
“Through our successful joint venture with GroenLeven, we also plan to significantly expand our operations in the Dutch market in 2019, which will further strengthen the development of our international project business."