BayWa’s renewables arm has completed the sale of a US solar portfolio totalling 517MW(dc) of capacity.
The three projects, located in the service areas of grid operators Pennsylvania, New Jersey, and Maryland PJM) Interconnector and the Midcontinent Independent System Operator (MISO), will be connected in 2025.
BayWa r.e. has sold them to an undisclosed privately held renewables independent power producer (IPP).
“We are pleased to complete the largest portfolio sale in the history of the BayWa r.e. Group, and to strengthening the American energy grid with renewable energy”, said BayWa r.e. Americas chief executive Fred Robinson.
“This transaction reaffirms our strategy in identifying high-quality projects in key markets.
“We look forward to further expanding our pipeline to meet the rapid demand growth in the US.”
Stoel Rives served as legal counsel for BayWa r.e. and Marathon Capital was the sell-side advisor.