BayWa mulls renewables sale

18 March 2019 - 12:00 am UTC

German renewables developer BayWa r.e is in the process of exiting some of its Asia Pacific solar project investments. 

For the whole APAC region, BayWa r.e has a solar and wind pipeline of more than 700MW, BayWa r.e.’s APAC Head of Wind and Solar Projects Daniel Gaefke told Inframation.

The company is in the process of selling its first Malaysian project and has other solar farms under construction, which will probably be ready for exit at the end of this year, Gaefke said.

BayWa r.e typically develops renewable energy projects and then exits the investment after the start of commercial operations.

Its first ever solar farm in Malaysia, the 5.2MW project in Arau, started commercial operation in July 2018. The project has a 21-year power purchase agreement with Tenaga Nasional and was developed by a consortium comprising Baywa and Malaysian partners UniMAP and Sun Energy Ventures.

The German developer declined to disclose its stake in the project, but foreign ownership is limited to 49% in Malaysia. 

BayWa r.e won another two solar projects of around 10MW each in Klang and Sandakan under Malaysia’s second large-scale solar tender in 2017.  It is also building a 40MW solar farm in the country, according to a source close to the matter.

Japan

In Japan the developer has a pipeline of about 150MW of solar and multiple projects will be going into construction over the next 16 months or so, Gaefke said. BayWa started construction on the first 35MW solar project in March this year.

The projects would need to be completed within the next two to three years to keep the feed in tariff.

Australia 

In Australia BayWa r.e. is planning to construct over 300MW of solar, according to the source.

The 112MW Karadoc solar farm in Victoria is on the grid now and the nearby 106MW Yatpool solar farm is expected to start operating by the end of the year. In February, Flow Power agreed to buy 20MW and 28MW respectively from the plants under corporate renewable power purchase agreements.

In January, the company said it will sell the 7.2MW Timboon West and 7.2MW Yawong wind farms which started operations this year.  The wind farms will be sold together with a 15-year O&M contracts with Vestas, and PPAs secured to sell 100% of the power to Alinta Energy. 

 

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