Solar power for McDonald

Munich - BayWa r.e. has sold the Pingewood solar farm, close to the town of Reading in Berkshire, England, to SUSI Renewable Energy Fund II. The power generated form that solar farm is dedicated for McDonald

The investment fund, advised by the Swiss-based SUSI Partners AG, focuses on investments into renewable energy projects, representing the interests of institutional investors such as pension plans and insurers. The sale was closed on 24. September.

The installation, with an output capacity of about 15 MWp, was completed in the spring and supplies electricity to the public grid under the ROC scheme. It was built on a former landfill, adding value to this brownfield conversion site. The solar farm produces some 15,000 MWh every year, supplying sufficient power for 4600 households. BayWa r.e. continues to be responsible for the plant's technical operations and management. The solar farm was financed by BayernLB, with whom BayWa r.e. has a long and successful history of collaboration.

"This is the first of four solar farms that we shall be selling this year in Great Britain," said Matthias Taft, Energy Director of BayWa AG and Chairman of the BayWa r.e. board. "We were able to secure a long-term Power Purchase Agreement (PPA) for the project, which made the investment even more attractive." The PPA provides for sale of the power generated at a fixed price over a period of 20 years. The purchaser under the agreement is McDonald

Source: IWR Online, 28 Sep 2015