German solar developer Baywa r.e. has sold its 15MW Pingewood solar farm to investment fund SUSI Renewable Energy Fund II and started work on the 45MW Vine Farm site.
BayWa r.e. closed the sale last week and Matthias Taft, energy director at BayWa, revealed that the firm is due to sell three more ground-mount solar farms later this year.
“We were able to secure a long-term Power Purchase Agreement (PPA) for the project, which made the investment even more attractive,” Taft added.
Meanwhile the company also revealed that work has started on the 45MWp Vine Farm project in eastern England which, when complete, will be the largest individual solar project undertaken by BayWa r.e.
Work is expected to complete in March next year and BayWa r.e. is also eyeing up additional projects in the UK, which would take its renewable energy portfolio in the country beyond its current 260MW capacity.