BayWa r.e. has acquired Forsa Energy’s UK renewable energy business. It will give BayWa r.e. access to a 350MW pipeline of Scottish onshore wind farms – adding to 823MW of solar and 1,047MW of wind power it has under management in the UK and Ireland.
BayWa r.e. said its strategy in the UK was to develop more greenfield wind projects. The pipeline has six wind farms totaling 200MW already in place and the expectation of consent for an additional significant wind farm of a further 150MW by 2020.
Backed by power-focused private equity firm Riverstone, Forsa Energy develops, builds and operates energy assets across Europe. BayWa r.e. is also taking on Forsa Energy’s onshore wind development and construction team.
Gordon MacDougall, managing director, BayWa r.e. UK, said: “We are committed to Scottish renewables and the Scottish Government’s onshore wind targets. With this investment, we plan to continue to grow and invest in subsidy free markets by identifying good wind resource opportunities. This acquisition will allow us to undertake more greenfield development, helping us to further expand our presence in the UK and Irish market.”
Alan Baker, chief executive, Forsa Energy said: “We, and our shareholder Riverstone, are very pleased that BayWa r.e. has acquired our UK onshore wind platform given the significant synergies between the two teams, alignment on strategy and their delivery track-record. …
“BayWa r.e. is continuing to build on the foundations the Forsa Energy UK renewable’s team has laid with the landowners, communities and other key stakeholders without who we wouldn’t have been able to contribute to Scotland’s renewable targets. We wish BayWa r.e. and our former colleagues well for the future and hope to see this business become the leading independent renewable energy business in Scotland and beyond. At Forsa Energy, we look forward to continuing a close working relationship in this space.”
BayWa r.e. will quickly progress with developmetn. Construction of the first 24MW Inverclyde windfarm is now underway.