Finance company, Allianz Global Investors has bought Great Glemham Solar Park from renewable energy company, BayWa r.e.

The Munich based subsidiary of BayWa AG, BayWa r.e constructed the 19.5MW solar power park last autumn.

“Thanks to the professional implementation of Great Glemham as well as our strong industry network, we were able to secure a long-term power purchase agreement – an important prerequisite, which made ​​the project both for the financing bank as well as for Allianz Global Investors an attractive investment,” said Matthias Taft, CEO, BayWa r.e.

BayWa r.e reported that its fourth solar project in the UK was completed in April.

The park is one of five projects being built by BayWa r.e in the UK following the previous successful sale of wind farms in the UK.

This story has been updated to correct the name of the project involved in the transaction.