Germany's BayernLB funds purchase of eight UK solar farms

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BayernLB, a German lender prevalent in the renewable energy sector, has financed the £30 million ($39 million) purchase of eight solar PV farms located at various sites across England and Wales.

The farms, of up to 5 MW each, have all been acquired by German asset manager Luxcara for its own institutional investor fund, with German state-owned lender KfW involved in partly refinancing the deals.

According to BayernLB’s U.K. legal adviser Watson Farley & Williams, the eight projects are located at five individual sites: in Thorne, South Yorkshire; Arkwright, near Chesterfield; Llancadle, Vale of Glamorgan; Teyrdan, Colwin Bay, and Hafod near Arbertillery – the latter three each divided into two separate plants on the same site.

One solar farm is part-owned by a community interest company (CIC), which is a special type of business in the U.K. created to steer profits generated into assets that benefit the public.