NEAS signs PPAs with five Baywa.r.e sites

BayWa r.e. has signed 15-year power purchase agreements (PPAs) for five solar parks in southern England and Wales totalling 83MWp. The contractual partner is the energy trading company Neas Energy. All five solar parks have achieved 1.3 ROC accreditation . BayWa r.e. pre- financed the projects itself and has been managing the technical and commercial operations of the plants since their turnkey construction and commissioning in March 2016. The company plans to sell the solar parks by the end of 2016.

Matthias Taft, board member of BayWa AG, said”Interest in our plants from institutional investors confirms the success of our activities in the British market, despite the new and challenging conditions.

“Further projects in the UK and Ireland are currently at the planning stage.”

He also said: “We are making the most of various market tools to promote renewable energies. For example, altogether we have been able to conclude PPAs in the UK for PV plants with a total output of 270MW. This allows us once again to demonstrate how quickly and flexibly we are able to respond to changing market conditions. This not only strengthens our profile as a full service provider, but also makes our assets more attractive.”