Baywa r.e. sells biggest solar farm to Allianz Global Investors

Munich - Baywa r.e. has sold the large-scale photovoltaic project, La Coste, to Allianz Global Investors.

The portfolio, with a total output of just under 60 MW, consists of six linked freestanding plants near Bordeaux and Toulouse. This corresponds to eight percent of the PV capacity installed in France during 2013.

"The successful implementation and sale of our largest solar farm to date is a milestone in the company's history, enabling us to continue our excellent collaboration with Allianz Global Investors", says Matthias Taft, Chairman of the Management Board of Baywa r.e. "We are glad to be continuing to manage the project with our own staff, thereby ensuring that services are carried out to our usual high standard." After the British solar farm, Great Glemham, La Coste is the second project to be sold to Allianz Global Investors.

As general contractor, Baywa r.e. realised the solar farm portfolio together with various partners within a year. Despite difficult working conditions due to the severe wet weather during winter 2013/2014, the company was able to complete all plants on time. Fontenet, the final section, went operational in September 2014. The power generated at La Coste is exported to the public grid. With an annual power production of over 75,000,000 kWh, the plant supplies around 20,000 French households a year with renewable energy.

Dr. Armin Sandh

Source: IWR Online, 16 Dec 2014