German solar developer BayWa r.e. has struck a significant long-term power purchase agreement with Nationwide Building Society.

The 15-year deal will see all the electricity generated from the firm's 45MW Vine Farm solar park near Cambridge – BayWa's largest in the UK to date – supplied to the UK bank.

Meanwhile the Renewable Obligation Certificates generated by the site will be sold to Big Six utility SSE's supply arm.

BayWa r.e. will however continue to be tasked with the solar farm's general operations and maintenance throughout its lifetime.

BayWa r.e. board member Matthias Taft said: “Having an excellent working partnership with our suppliers and business partners also plays a key role for delivering projects in budget and in time and is a crucial factor for us in terms of implementing future projects in the UK.”

And Jenny Groves, divisional director for brand and workplace transformation at Nationwide, said the group was “delighted” to have the agreement in place.

“By increasing the amount of renewable electricity we’re using, we’re able to continue to ensure we’re doing our bit to manage the environmental impact of our activities and run the society in a responsible way,” she said.

The latest deal follows a number of similar agreements signed by BayWa r.e. in the UK, with the developer already supplying a substantial amount of green electricity to fast food chain McDonalds.