DGAP-News: BayWa to build wind power plants in the United Kingdom
(firmenpresse) - DGAP-News: BayWa AG / Key word(s): Miscellaneous
BayWa to build wind power plants in the United Kingdom
23.12.2010 / 15:18
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BayWa to build wind power plants in the United Kingdom
Munich, 23. December 2010 - BayWa AG, Munich, is expanding its renewable
energy source business activities to the United Kingdom: BayWa r.e GmbH,
which bundles the company's entire activities in the renewable energies
area, has agreed to acquire two consented onshore wind parks in the United
Kingdom from RWE npower renewables, an RWE Innogy subsidiary, through its
subsidiary RENERCO Renewable Energy Concepts AG. The purchase price will be
around EUR 17 million. The price also includes options for a further eight
UK onshore wind projects which are currently in development, with a total
installed capacity of around 180 megawatts (MW). The two consented
projects have a combined installed capacity of 27 megawatts (MW). Both
onshore wind parks - one in England and one in Scotland - are expected to
be constructed and operational by the end of 2012 at the latest. The
acquisition of the two projects will occur in early 2011.
'We are stringently continuing our growth strategy in the renewable
energies area through the construction of wind power plants in the United
Kingdom. The UK market is very interesting for onshore wind power plants
due to its geographic and climatic conditions,' commented BayWa AG CEO,
Klaus Josef Lutz. He announced that further acquisitions would also be made
next year in order to achieve the BayWa Group's medium-term revenue target
of EUR 1 billion in the renewable energies area.
RENERCO Renewable Energy Concepts AG, which has been majority-owned by
BayWa r.e since 2009, will manage its equity interests through the UK
project companies for the individual plants. 'In RENERCO, BayWa r.e has a
company on board that commands proven specialist knowledge in the project
development, construction and operation of wind power plants. We aim to
participate successfully in the UK growth market through the construction
of wind power plants located there,' commented Roland Schuler, BayWa AG
Management Board member responsible for the Energy area. To date, RENERCO's
co-investments have included the construction of one of the largest Spanish
wind parks at La Muela, and it has built a number of wind parks in France,
Italy and Germany.
Hans Bünting, CFO RWE Innogy: 'We are very happy to have BayWa as a
reliable partner in the field of renewable energy. RWE npower renewables
has been one of the most successful developers in the UK over recent years
and in order to ensure a balanced portfolio with our hydro, biomass and
offshore wind technologies we have decided to sell some UK onshore wind
developments. RWE Innogy will continue to invest in our own sites as well.'
BayWa r.e GmbH is a wholly-owned BayWa AG subsidiary. In its BayWa r.e
division, the Group bundles its entire activities in the renewable energies
area, and positions itself in this growth market. Through its BayWa r.e
subsidiaries, which operate in the biogas, solar and wind power plants area
across Europe, BayWa has positioned itself as a project developer and
trader within the renewable energies sector. RENERCO Renewable Energy
Concepts AG, which has been owned by BayWa r.e since 2009, operates in the
wind energy and photovoltaics area. The company develops projects,
constructs and operates large plants across the whole of Europe, having
focused to date on Germany, France, Spain, and Italy, and increasingly also
Eastern Europe.
Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communication,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98,
e-mail: marion.danneboom(at)baywa.de
End of Corporate News
23.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: BayWa AG
Arabellastraße 4
81925 München
Deutschland
Phone: 089/ 9222-3691
Fax: 089/ 9222-3698
E-mail: presse(at)baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of News DGAP News-Service
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107583 23.12.2010
Datum: 23.12.2010 - 15:18 Uhr
Sprache: Deutsch
News-ID 32930
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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