BayWa AG secures German wind project portfolio with more than 370 megawatts
Munich based company BayWa AG has acquired the project rights for a total of 31 wind power projects from juwi, a project developer based in Wörrstadt.
The portfolio comprises an output of around 375 megawatt (MW) at different locations in Germany, for the most part in North Rhine-Westphalia and Rhineland-Palatinate. BayWa r.e. renewable energy GmbH will implement the projects and complete them in line with its business model.
BayWa AG's CEO, Klaus Josef Lutz, stated, said:
"With this portfolio, we are creating the right conditions for the continued and sustained growth of our renewable energy activities. This enables us to safeguard a significant part of BayWa AG's consolidated results over the coming years."
The projects are at different stages of development. BayWa r.e. is anticipating approval for nearly one third of these projects in 2016. Following this, the aim is to immediately commence construction. BayWa r.e expects the first wind farms from the new portfolio to be commissioned as early as 2017.
Matthias Taft, Member of the Board of BayWa AG, responsible for the energy business, added:
"Through the acquisition of this significant project portfolio we are continuing to develop our wind sector activities in the German domestic market. Beyond Germany's borders we feel well positioned both in Europe and the USA, and are therefore looking ahead to the coming years with great confidence."
After completion of the transaction, BayWa r.e. and juwi plan to cooperate further throughout the implementation of the wind projects.
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