BayWa r.e., a German developer of clean energy projects, has announced today it has sold a 15 MW solar farm in England to Swiss investment firm Susi Partners.
The Pingewood solar farm, located near Reading on the western outskirts of London, was built by BayWa r.e. this year and is eligible for the Renewable Obligation Certificate (ROC) at a rate of 1.4 ROC/MWh.
Financed by BayernLB and built on a former landfill site, the farm has a 20-year power purchase agreement (PPA) with fast-food giants McDonalds, and is the first of four large-scale solar farms BayWa r.e. is looking to offload in the U.K. this year, confirmed energy director and board chairman, Matthias Taft.
The remaining three solar projects which together with the Pingewood solar farm boast a combined capacity of 85 MW are located in Northampton, Aylesbury and Oxford, and were developed with the explicit aim to provide attractive investment opportunities for partners, Taft confirmed.