BayWa r.e., a developer of renewable energy projects, announced the sale of four solar projects to Octopus Energy Generation, a renewable energy investment firm. The projects have a combined capacity of 222 MWp across the U.K.
The sale comprises project rights for the 50 MWp Perrinpit Road solar project in Bristol, developed under a joint venture with Grüne Energien Solar.
The other three projects include a 48 MWp Driffield solar project, located about 50 km east of York, a 52 MWp South Fambridge Hall solar project located in Rochford, Essex, and a 72 MWp Corner Copse solar project located near Swindon, Wiltshire. All three projects are ready to build, with construction scheduled to begin this year. The construction of the fourth project will start in 2025, and all are expected to reach commercial operations between 2025 and 2026.
BayWa r.e. will construct these three projects under an engineering, procurement, and construction agreement. The Driffield solar project will also include a 30 MW battery energy storage system, which Octopus will build.
The company has also signed a 20-year agreement for these projects to provide long-term operations and maintenance as well as commercial asset management services.
In July, BayWa r.e. also announced the acquisition of the 46 MW White Gate solar project in Constanța county in Southeastern Romania. Financial details about the transaction were not disclosed.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&A report, 113 solar project acquisitions totaling 18.5 GW were announced in 1H 2024 compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
Grenergy, an independent solar and wind power producer, acquired 1 GW of solar projects, including a 1 GW energized line, from Repsol and Ibereólica earlier this week. The company will invest $128 million in this transaction.
