German developer BayWa has sold its 27MW Lynt Farm solar park to Meag, the asset manager of Munich Re.
The deal for the park, located 40km south-east of Oxford in England, was completed on December 31 2015, with Meag acquiring 100% of the shares.
“With this sale we are continuing our excellent working partnership with MEAG”, commented BayWa board member Matthias Taft.
“For this project we could once again secure a long-term PPA, making this a significantly more attractive investment.”
The PPA as for previous BayWa projects, is with McDonald’s Restaurants.
The solar farm was commissioned in March 2015, allowing the project to be accredited to the ROC scheme.
“With solar parks like this we are continuing to diversify our portfolio with sustainable investments characterised by limited risks and good returns. In doing so we are making use of the entire group’s expertise”, added MEAG’s Managing Director Holger Kerzel.
BayWa was currently responsible for technical and commercial operations at Lynt Farm, so the operator is guaranteed 99% technical plant availability.
BayWa will realise around 130MW of other solar projects by the end of March 2016 and is looking for further small-scale projects under 5MW to realise in 2016 and 2017.
Image: Solar Farm (BayWa)
