BayWa r.e. sells UK solar-storage plant

Jan 24, 2023 12:55 PM ET
  • German firm will certainly remain to operate and manage the asset in Yorkshire which will certainly start operations by year-end
BayWa r.e. sells UK solar-storage plant
Image: BayWa r.e.

BayWa RE has actually offered an 80MW solar-battery project in the UK to FP Lux Investments.

FP Lux is acquiring the asset, in Yorkshire, northern England for its RE Infrastructure Opportunities fund.

The solar-storage center in Scurf Dyke, near Kingston Upon Hull, is being developed by BayWa r.e. as well as is scheduled to go into operation prior to the end of 2023.

The 49MW solar portion of the project has actually been provided a Contract for Difference (CfD) under the UK Governments Round 4 allocation.

BayWa r.e. will certainly be responsible for the succeeding operation and administration of the plant.

Re: cap Global Investors, an independent investment consultant, released the RE Infrastructure Opportunities fund with FP Lux Investments.

Thomas Seibel, Managing Director of Re: cap, claimed: "With the acquisition of the solar park in Yorkshire, we are making the RE Infrastructure Opportunities fund much more varied - both geographically as well as technologically.

" Furthermore, we could protect a British Contract for Difference (CfD) with a regard to 15 years and also inflation indexation for the plant.

" The project hence offers an especially stable and also inflation-indexed cash flow.

" Looking at existing development in consumer prices, this is of course additionally attractive for our capitalists."

With the procurement, the existing portfolio of RE Infrastructure Opportunities fund comprises 14 projects at 27 locations with a total capacity of around 400MW.

The fund successfully completed its final closing at the start of 2023 with a membership volume of EUR290m.

A follow-up fund is expected to be launched in the summer of 2023.

Source:
renews.biz

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