January 3 (Renewables Now) - BayWa re renewable energy GmbH has offloaded the 175-MWp Don Rodrigo subsidy-free solar park in Spain to asset manager MEAG for an undisclosed sum.
The renewables unit of German diversified group BayWa AG (ETR:BYW6) said last week that the scheduled sale of the asset is an “important contribution” to the BayWa Group in achieving its 2018 financial goals. The project is BayWa re’s largest endeavour in the photovoltaic (PV) sector.
“We are planning to generate subsidy-free solar power with similar projects in other southern European countries in the next few years in order to further drive the energy transition throughout Europe,” said Matthias Taft, BayWa AG’s senior energy executive.
The construction of the Don Rodrigo solar park in the municipalities of Utrera and Alcala de Guadaira near Seville, has already been completed, according to the press release. The plant features a total of 500,000 Astronergy and GCL solar panels and Huawei inverters and is expected to produce over 300 GWh of electricity a year, or enough to supply 93,000 local homes. The output of the facility will be sold under a 15-year power purchase agreement (PPA) with Norwegian energy group Statkraft.
Following the sale, BayWa re will take care of the plant’s technical operation.
MEAG manages the assets of Munich Re and ERGO, both part of the Munich Re group.