BayWa r.e. has been selected as the strategic investor to acquire a Spanish solar development portfolio through an international tender process. The said portfolio is sponsored by Quercus, a specialist investor in renewable energy. The portfolio consists of 11 solar development projects in Spain with a total installed capacity of over 700 MW.
The agreement, signed in January 2022, entails BayWa r.e. purchasing the projects once Quercus has delivered them at a ready-to-build stage. BayWa r.e. has been operating in Spain since 2010, with 378 MWp of installed renewable energy capacity, 200 MWp due to be operational in the first quarter of 2022, and a pipeline of over 1.5 GW slated for delivery by 2025. Quercus’ exclusive financial advisor for marketing and implementation of the purchase was Greenhill, a central independent investment bank with a strong track record in the Spanish renewable energy industry.
In September 2021, Alternus Energy Group acquired a 64.6 MW solar project in Witnica, Poland from BayWa r.e. The sales agreement was signed between both parties in August 2021. The solar farm is located close to the German border between Poznan and Berlin and was completed earlier this year. Witnica is the first subsidy-free, PPA-backed commercial-scale solar installation in Poland.
