BayWa r.e. Sells Five German Solar Parks

BayWa r.e. has sold five solar parks to Encavis Infrastructure Fund II. The Fund’s investment advisor, Encavis Asset Management AG (Encavis AM), is part of the listed Encavis AG, one of Europe's leading independent power producers (IPPs).

The Barth III-VI projects on the premises of the
Stralsund-Barth Airport and the Seifertshofen solar park between Ulm and
Augsburg have a total capacity of around 35 MWp. With the exception of Barth V,
all the projects are in receipt of a subsidy from the German Renewable Energy
Sources Act (EEG). Barth V, on the other hand, generates 8.8 MW without any
subsidy and is consequently one of the first solar parks in Germany outside the
scope of the EEG.

Matthias Taft, Member of the Board responsible for the energy
business, BayWa AG, said that “A year ago we built Europe’s first subsidy-free solar park in sun-soaked
Spain. Today, we are able to prove that subsidy-free solar electricity
generation is competitive in Germany. Wperienced a great interest from potential
commercial and industrial electricity consumers, as well as from investors, and
we are delighted to partner with Encavis.”

solar installations contribute significantly to the implementation of a
cost-effective energy transition in Germany. New mid- and large-scale
installations are already the cheapest way of producing electricity in Europe.
Furthermore, as a recent study shows, they help to improve biodiversity in the

Karsten Mieth, CEO of Encavis AM said that “With the completion of this
acquisition, we are continuing our positive and close collaboration with BayWa
r.e. We are particularly pleased that with Barth V we purchased a milestone
project for the fund, and consequently play our part in a new phase of
renewable electricity generation.”

BayWa r.e. put the Barth V solar park into operation in
October. With a total output of 8.8 MWp, this plant is currently the largest
solar park in Germany to work without any subsidies. The generated electricity
will be marketed through a five-year Power Purchase Agreement (PPA) with the
in-house BayWa r.e. Clean Energy Sourcing GmbH (CLENS) energy trading

The project benefits from previous projects on the same
site. As cable routes and network connections had already been planned at an
early stage. The optimised planning and system design by BayWa r.e., as well as
the close collaboration with the land owner and the local communities, has also
helped to realise this project. The project is being financed through an attractive
non-recourse loan from the UmweltBank with a credit period of 20 years.

of projects sold:

•    Barth III with an output of 9.9 MWp commissioned in February 2017
•    Barth IV with an output of 9.2 MWp commissioned in September 2019 •    Barth V with an output of 8.8 MWp commissioned in October 2019
•    Barth VI with an output of 0.75 MWp commissioned in September 2019 •    Seifertshofen with an output of 6.5 MWp commissioned in August 2019