Acquisition of a fourth wind farm in the UK is completed
BayWa r.e. renewable energy GmbH, via its subsidiary RENERCO Renewable Energy Concepts AG, acquired Stroupster wind farm. Under a framework agreement concluded in 2010, RENERCO acquired an option to purchase up to 10 onshore wind farms across England, Scotland and Wales from RWE npower renewables. Stroupster is the fourth wind farm purchased through that agreement. The UK project portfolio of BayWa r.e. now comprises over 72MW.
The acquisition of Stroupster further strengthens BayWa r.e.’s presence in the UK market, which BayWa r.e. sees as a key market to achieving its objective of becoming a major player in the planning and construction of renewable energy plants in Europe. The Stroupster wind farm site is located in Caithness in Northern Scotland, close to Wick. Installed capacity is likely to be around 28 MW, consisting of 12 wind turbines. Grid connection is expected to occur in late 2014, with commercial operations scheduled for early 2015.
BayWa r.e. renewable energy GmbH, a subsidiary company of BayWa AG (Munich), is responsible for BayWa group’s renewable energy business. BayWa r.e. was founded in 2009 and acts as a holding company for various business interests in the areas of solar, wind energy, bio-energy and geothermal energy. RENERCO Renewable Energy Concepts AG forms part of this group and is realising all four UK wind farms. BayWa r.e.’s business activities range from project development and realisation to retail and consulting services. In the services sector, BayWa r.e. covers the entire spectrum of technical plant support. If desired, it can also undertake the commercial and technical operations management of plants. The company has an international focus with its core markets in Europe and the USA. BayWa AG is a trading company operating on an international platform. Its main business sectors are agriculture, construction material and energy. Shares in the company are traded on the MDAX exchange (German Mid-Cap Index).