Germany-headquartered BayWa r.e. has continued its latest run of solar farm sales by offloading yet another project to compatriot insurance firm Munich Re.
And the solar developer also confirmed it intends to complete further solar farms with a combined capacity of 130MW prior to the closure of the 1.3ROC deadline on 31 March.
MEAG, Munich Re’s asset management arm, has acquired the 27MW Lynt Farm solar park located to the southeast of Oxford. The sale extends on a deal from March last year which saw Munich Re acquire three farms from BayWa with a total capacity of 28MW.
The Lynt Farm project has an extend power purchase agreement in place with a local McDonalds, a fact which BayWa board member Matthias Taft said made the project “a significantly more attractive investment”.
BayWa r.e. will remain responsible for the technical and commercial operations management of the project and has signed a guarantee for 99% technical plant availability.
The developer also reiterated its commitment to the UK ground-mount market despite the early closure of the Renewables Obligation scheme. BayWa aims to complete a raft of projects with a total capacity of 130MW prior to the closure of the current grace period on 31 March, whilst also eyeing up further sub-5MW projects under the 1.2ROC grace period announced by DECC in December.