BayWa’s renewables business has sold its Tralorg wind farm project in South Ayrshire, Scotland, to RPMI Railpen, one of the UK’s largest pension funds.
The 18.8MW Tralorg wind farm, comprises eight turbines and is located approximately 30km south of Ayr.
The project is expected to be fully operational in the second quarter of 2020. Grid connection has already been secured with works underway.
BayWa global director of wind projects Katy Hogg said: “Tralorg is a high wind speed site designed with efficient and high-quality turbines.
“It will make a great contribution towards delivering low carbon electricity for UK consumers, both supporting the Scottish Government’s renewable energy aspirations and helping the UK make progress towards its Net Zero targets.”
Tralorg is one of the last wind farms to be built under the UK’s onshore wind Contract for Difference (CfD) regime, having secured a 15-year CfD in 2014 through a competitive bidding process.
Baywa RE UK managing director Gordon MacDougall said: “We’re very pleased to have secured this first project sale with Railpen.
“We look forward to developing an ongoing relationship with them and, once the project is operational, ensuring that the wind farm gives them the best return on their investment through provision of ongoing asset management services.”
Railpen is one of the UK’s top five pension funds. It is responsible for investing railway pension scheme funds on behalf of members, with the goal of paying members’ pensions securely, affordably and sustainably. To achieve this, it invests in projects that generate strong investment returns over the long-term.
Railpen deputy portfolio manager Lewis Vanstone added, “We are delighted to have acquired Tralorg Wind Farm. The wind farm’s sustainable, long-dated and asset-backed income characteristics dovetail perfectly with our core investment themes.
“The experience and expertise of our partner BayWa RE ensures this deal will be of great long-term value for members.”