BayWa r.e. sells UK wind farm to Greencoat UK Wind
BayWa r.e. has sold the 29.9MW Stroupster wind farm to the renewable infrastructure fund Greencoat UK Wind PLC. This is the fourth successful sale of an onshore wind farm from BayWa r.e.'s UK portfolio and comes at the end of a competitively run sales process.
The thirteen Enercon E-70 wind turbines are sited north of Wick in Caithness, Scotland, and have been feeding power into the grid since August 2015. BayWa r.e. acquired the project rights from RWE npower and constructed the wind farm within 18 months, in cooperation with local UK contractors. BayWa r.e. continues to be responsible for the plant's technical operations management.
Matthias Taft, Board Member of BayWa AG, commented: "With Stroupster we have successfully realised our largest wind project in UK to date. This validates our strategy to invest further in the UK renewables market. The current market conditions for wind farms are challenging given ongoing regulatory uncertainty, but we remain committed to a long-term investment in renewable energy and our next projects are already underway". Stroupster will generate enough electricity to supply the equivalent of over 25,000 British households with green energy, making a significant contribution to the UK government's goals for CO2 reduction.
In parallel with the realisation of the project, BayWa r.e. set up a charitable fund that will provide financial support to the local community. The fund is being administered by a third party charitable foundation and supports local not-for-profit projects. The fund will contribute approx. 150,000 GBP annually throughout the wind farm's operating life. An advisory panel comprising local residents and community councillors has been set up and will be responsible for the allocation of the fund in line with agreed community objectives.
The UK is one of the core markets for BayWa r.e.'s renewable energy business. So far, the company has built solar and wind farms with a capacity of more than 260 MW with further projects are currently under construction or in the planning stage.
