BayWa r.e. sells 517 MW US solar portfolio in largest transaction to date
Author: PPD Team Date: November 26, 2024
BayWa r.e. has sold three solar projects in the United States, totalling 517 MWDC, to an undisclosed renewable independent power producer (IPP). The deal, finalized in October 2024, represents the largest portfolio sale in BayWa r.e.’s history. The projects are expected to be operational by the end of 2025.
Situated in the PJM (Pennsylvania, New Jersey, Maryland) Interconnection and Midcontinent Independent System Operator (MISO) territories, these projects are contributing to local economies through job creation during construction and generating long-term tax revenue.
BayWa r.e. Americas CEO Fred Robinson emphasized the strategic significance of the sale in addressing the growing demand for renewable energy in the U.S. Legal support for the transaction was provided by Stoel Rives, with Marathon Capital serving as sell-side advisor.
This sale follows BayWa r.e.’s September 2024 transaction in which it sold four UK solar projects, totalling 222 MWp, to Octopus Energy Generation, further reflecting the company’s global renewable energy growth strategy.