Munich, 5 October 2016: BayWa r.e. has sold its 29.7 MW Fraisthorpe wind
farm, situated near Bridlington. The site has been acquired by funds managed
by the UK investment fund manager Octopus Investments, one of the UKs
largest investors in renewable energy. This is the fifth successful wind
farm sale from the BayWa r.e. portfolio to take place in the UK to date.
Upon acquiring the consented project in December 2014, BayWa r.e. assumed
responsibility for procurement, project financing and implementation of the
project. Going forward, BayWa r.e. will continue to provide full service
commercial and technical operations management services to the project.
The Fraisthorpe wind farm consists of nine Vestas V112 turbines with a total
capacity of 29.7 MW. Katy Hogg, Managing Director of BayWa r.e. UK,
commented that: “The location of Fraisthorpe near the coast offers ideal
conditions for a wind farm. It is expected to generate renewable electricity
for the equivalent of 22,500 households each year and thereby reduces CO2
emissions by 48,000 tonnes.”
Matthias Taft, Board Member of BayWa AG, responsible for the energy
business, added: “Following the successful sale of the Fraisthorpe wind
farm, we are delighted at the prospect of working with Octopus Investments,
as a long-term customer of our operations management services, and hopefully
as an investor in further renewable energy projects. The UK has been one of
the key markets for our wind and solar projects business and we expect this
to continue, with some adjustments as the market moves into a new phase. Our
UK Service business continues to go from strength to strength and we look
forward to demonstrating our capabilities in this sector to financial
investors over the long-term, as we are doing in the rest of Europe.”
In the UK, BayWa r.e. has so far constructed wind and solar farms with a
total capacity of 380 MW and manages the commercial and technical operations
of plants with a total output of 470 MW on behalf of third party investors.
Globally, BayWa r.e. manages more than 2GW of renewable energy projects on
behalf of third parties.
BayWa r.e. renewable energy GmbH (BayWa r.e.):
BayWa r.e. renewable energy GmbH is a wholly-owned subsidiary of BayWa AG
and combines the activities of the solar, wind, bio- and geothermal energy
business sectors. Based in Munich, BayWa r.e. is trading globally. The
company is a “full-service-partner”, employing around 950 and drawing on
more than 25 years of experience in the market. Today, BayWa r.e. develops,
realises, consults on and supports renewable energy projects. In addition,
the company operates and maintains renewable energy plants on behalf of
third party investors that include landowners, pension funds and utilities.
Further business activities include wholesaling PV components, as well as
purchasing and trading in green energy.
BayWa r.e.s UK subsidiaries are active in the solar, wind and bioenergy
markets of the UK and Ireland. They focus on projects and O&M business and
the distribution of PV components.
BayWa r.e.s parent company, BayWa AG, is an international trading and
service enterprise with core areas of business in the agriculture, energy
and construction sectors.
BayWa r.e. renewable energy GmbH
Telephone: +49 (0)89-383932-5817
BayWa r.e. renewable energy GmbH
Herzog-Heinrich-Strasse 9 | 80336 Munich, Germany
T +49 89 383932-5817
F +49 89 383932-32
Managing Director: Matthias Taft (CEO), Günter Haug, Harald Wilbert
Registered Office: Munich
Court of Registration: Munich, HRB 160344