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MarketScreener Homepage  >  Equities  >  Xetra  >  BayWa AG    BYW6   DE0005194062

BAYWA AG (BYW6)
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BayWa : r.e. plans 175 MW solar project in southern Spain

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02/22/2018 | 09:22am CEST

The companys unit, Sunshine Latin has secured a permit and a fiscal incentive for the project from the municipality of Alcal de Guadara, where the solar facility will be located.

The mayor of the Spanish municipality of Alcal de Guadara, Ana Isabel Jimnez and the CEO of BayWa r.e. Solar Projects, Benedikt Ortmann have signed an agreement for the construction of a 175 MW solar power plant in the towns territory.

According to a press release issued by the municipality, the project will have a required investment of around 102 million and will include the construction of a 220 kV transmission line.

The project, which will be named Don Rodrigo and will implemented by the special purpose vehicle Sunshine Latin, has already been granted approval by the local administration.

Furthermore, the facility will be exempt from paying 95% of the local construction tax, while the developer has committed to hire mainly workforce from the area for the project. The company believes that around 275 direct and indirect jobs will be created thanks to the projects construction, which is expected to be started very soon, the municipality stressed.

The municipality said the solar facility will help the region of Andaluca become an exporter of power and ensure a reliable power supply, without specifying if the project is being developed for the spot market, the private PPA segment, or the countrys auction mechansim.

In a statement to pv magazine, however, a company spokesperson said that talks are currently being held with a potential client for a long-term PPA. As pv magazine reported in January of last year, the plant may sell power at 0.038/kWh.

Several projects of this kind were announced and approved at several stages by local and national authorities in Spain over the past years. To date, however, only one project appears to have entered an implementation phase, the 300 MW Talasol project owned by Israeli developer Ellomay, for which the company secured a financial hedge in late January.

(c) 2018 Business and Financial Times - All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2018 16 511 M
EBIT 2018 182 M
Net income 2018 52,7 M
Debt 2018 2 499 M
Yield 2018 3,24%
P/E ratio 2018 19,14
P/E ratio 2019 14,14
EV / Sales 2018 0,21x
EV / Sales 2019 0,21x
Capitalization 1 013 M
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Average target price 33,5 €
Spread / Average Target 16%
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Klaus Josef Lutz Chief Executive Officer
Manfred Nüssel Chairman-Supervisory Board
Andreas Helber Chief Financial Officer
Johann Lang Member-Supervisory Board
Gunnar Metz Vice Chairman-Supervisory Board
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