BayWa r.e. announced the sale of its Wathegar 2 wind farm to the British Strategic Investment Fund LP (BSIF) which is managed by London-based specialist asset manager, Gresham House Asset Management.
The wind farm has a capacity of 18.45MW comprising nine 2.05MW Senvion turbines.
“We are happy to announce the realisation of yet another successful project in Scotland. The sale of the Wathegar 2 wind farm rounds off a very successful few years for our wind business in the UK”, said Katy Hogg, Co-Head of Wind Energy Projects at BayWa r.e. “In 2019, we want to further expand our UK wind and solar development business and look forward to new and interesting projects in the New Year.”
BayWa r.e. has established a strong presence in the UK with offices in Edinburgh, Stirling and Milton Keynes. The company has recently announced the acquisition of the 18.8MW Tralorg wind farm, located in South Ayrshire, with a 15-year Contract for Difference (CfD). In addition to its projects business, BayWa r.e. is also one of the UK’s leading services businesses managing a portfolio of 1,900 MW solar and wind assets.
“The sale of Wathegar 2 and the acquisition of Tralorg underline our ongoing commitment to the UK wind market”, explains Gordon MacDougall, Managing Director, BayWa r.e. UK Limited. “Together, these projects will help Scotland in its renewable energy transition and contribute to the government’s objective to generate the equivalent of 100 per cent of Scotland's gross annual electricity consumption from renewables by 2020.”
Wayne Cranstone, Investment Director at Gresham House New Energy Ltd said: “We are delighted to have completed the acquisition of Wathegar 2, our first renewable energy investment for BSIF. The project is close to the Wathegar 1 wind farm which is also managed by Gresham House Asset Management. Both wind farms enjoy high capacity factors typical of north east Scotland. We look forward to realising the significant long-term value that we see in this project.”