At the beginning of May 2016, BayWa r.e. signed a long term Power Purchase Agreement (PPA) for the Vine Farm solar park, which was recently commissioned in the UK. This PPA allows for the sale of power generated by the park at a fixed price for a period of 15 years. The contractual partner is Nationwide Building Society. The Renewable Obligation Certificates (ROCs), issued alongside the power generated, will be sold to SSE Energy Supply Limited.
Jenny Groves, Nationwide's Divisional Director for Branch & Workplace Transformation said: "I'm delighted with the agreement we have in place with BayWa r.e. By increasing the amount of renewable electricity we're using, we're able to continue to ensure we're doing our bit to manage the environmental impact of our activities and run the Society in a responsible way."
With 45MW, the solar park generates enough power for 11,500 households. The project, located around 12 miles south-west of Cambridge, was financed by BayWa r.e. itself and sales talks with institutional investors are already under way. Furthermore, BayWa r.e. will continue to be responsible for the technical and commercial operations management of the solar park.
Matthias Taft, Board Member of BayWa AG, responsible for the energy business, expressed his delight at the success of the company's activities in the British market: "In the UK, we have already installed a plant output totalling 390MW in the areas of wind and solar. Having an excellent working partnership with our suppliers and business partners also plays a key role for delivering projects in budget and in time and is a crucial factor for us in terms of implementing future projects in the UK."