BayWa r.e. signs power purchase agreements for five solar parks in the UK
BayWa r.e. has been able to secure five power purchase agreements (PPAs) for solar parks in southern England and Wales. At the end of September, the company signed the long term PPAs, which allow for the sale of power generated for a period of 15 years. The contractual partner is the energy trading company Neas Energy.
Matthias Taft, Board Member of BayWa AG, responsible for the energy business, is convinced that such long-term PPAs play an important role in the future: "With our international projects, we are making the most of various market tools to promote renewable energies. For example, altogether we have been able to conclude PPAs in the UK for PV plants with a total output of 270 MW. This allows us once again to demonstrate how quickly and flexibly we are able to respond to changing market conditions. This not only strengthens our profile as a full service provider, but also makes our assets more attractive."
All five solar parks with a total capacity of 83 MWp have achieved 1.3 ROC accreditation (Renewables Obligation Certificates). BayWa r.e. pre- financed the projects itself and has been managing the technical and commercial operations of the plants since their turnkey construction and commissioning in March 2016. The company plans to sell the solar parks by the end of 2016.
"Interest in our plants from institutional investors confirms the success of our activities in the British market, despite the new and challenging conditions," Matthias Taft explained. "Further projects in the UK and Ireland are currently at the planning stage."