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MarketScreener Homepage  >  Equities  >  Xetra  >  BayWa AG    BYW6   DE0005194062

BAYWA AG

(BYW6)
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BayWa : sells 175 MW solar park 'Don Rodrigo' to MEAG

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12/28/2018 | 07:00am EDT

DGAP-News: BayWa AG / Key word(s): Disposal
BayWa sells 175 MW solar park 'Don Rodrigo' to MEAG

28.12.2018 / 12:53
The issuer is solely responsible for the content of this announcement.


BayWa sells 175 MW solar park "Don Rodrigo" to MEAG

Through its holding company BayWa r.e. GmbH, BayWa AG has sold the solar park "Don Rodrigo" in southern Spain to a group's client of MEAG, asset manager of Munich Re and ERGO. The plant consists of a total of around 500,000 solar panels installed on an area measuring 265 hectares that is located 20 kilometres to the south of Seville. The park's total output amounts to 175 megawatts (MW); it therefore generates roughly the same volume of energy as a conventional peak power plant. The 300 gigawatt hours (GWh) produced annually by the plant will supply the equivalent of around 93,000 Spanish homes with electricity.

"With the scheduled sale of this solar power plant in the fourth quarter of 2018, BayWa r.e. has made an important contribution to the BayWa Group meeting its anticipated overall results for 2018," said a delighted Klaus Josef Lutz, member of the BayWa AG executive board.
Don Rodrigo is currently the largest project realised by BayWa r.e. in the solar area. Over the past few months, up to 10,000 solar panels were installed on site every day.

"What is so special about this project is that we will generate green electricity at market prices without any kind of subsidies, a first in Europe. We are therefore entering a new phase where the energy turnaround is concerned: solar power is now cheaper to produce than conventional power," explains Matthias Taft, BayWa AG's senior energy executive. "The fact that the plant was completed without any delays or complications and its subsequent sale quickly followed are a major success for us. We are planning to generate subsidy-free solar power with similar projects in other southern European countries in the next few years in order to further drive the energy transition throughout Europe."

The power will in future be marketed through a 15-year Power Purchase Agreement (PPA) with the Norwegian energy company Statkraft. The BayWa r.e. service team will also be responsible for the ongoing technical operation of the plant. Following the sale of several solar farms in Great Britain to MEAG in 2014 and 2015, the sale of Don Rodrigo is the third successful collaboration with the asset management firm of Munich Re and ERGO.
 

BayWa r.e. renewable energy GmbH (BayWa r.e.):
BayWa r.e. renewable energy GmbH is a wholly owned subsidiary of BayWa AG. BayWa r.e. is one of the leading developers, service suppliers, PV wholesalers and energy solution providers in the field of renewable energy. Under the motto "r.e.think energy", the company is active worldwide. As a full-service partner with more than 25 years of experience in the market, BayWa r.e. has already commissioned plants with 2 GW and is responsible for the operational management of more than 5 GW of plant output.




Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communications/Public Affairs,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 12-36 80,
e-mail: marion.danneboom@baywa.de


28.12.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: BayWa AG
Arabellastraße 4
81925 Munich
Germany
Phone: 089/ 9222-3691
Fax: 089/ 9212-3680
E-mail: marion.danneboom@baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange

 
End of News DGAP News Service

762399  28.12.2018 

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© EQS 2018
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Sales 2019 21 303 M
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