October 5 (SeeNews) - The renewables unit of German diversified group BayWa AG (ETR:BYW6) today said it has sold its 29.7-MW Fraisthorpe wind farm near Bridlington, England to funds managed by UK investment fund manager Octopus Investments.
BayWa re renewable energy GmbH will continue to provide commercial and technical operations management services to the project, which consists of nine Vestas turbines.
The company acquired the consented project in December 2014 and achieved full commercial operations in July this year. The wind farm benefits from favourable location close to the coast and is expected to generate enough power to meet the annual needs of 22,500 households.
BayWa re said this is its fifth successful wind farm sale in the UK.
The company has so far constructed 380 MW of wind and solar farms in the country and manages 470 MW on behalf of third-party investors. Worldwide, it manages more than 2 GW of renewable projects for third parties.