Allianz buys 19MW UK PV array

Allianz Renewable Energy Fund (AREF) has bought the 19.5MW Great Glemham solar farm in the UK from BayWa Renewable Energy, the renewables arm of German trading company BayWa. 

The array, located about 161km miles northeast of London, was the third closing for AREF, after the acquisition of an Italian solar farm in late 2013 and a German wind farm in February 2014.

"In addition to helping ensure our investments are geographically diversified, this solar farm should offer stable cash-flows through the Renewables Obligation subsidy scheme, a long-term power purchase agreement with an investment grade consumer as well as a level of sunshine hours comparable to Germany," AREF's chief investment officer Armin Sandhövel says.

The installation is receiving 1.6 ROCs per megawatt hour of produced electricity under the UK's Renewables Obligation subsidy scheme.

The Allianz Renewable Energy Fund was launched as a closed-end fund for institutional investors in 2012 and closed in September 2013.

Investors committed around €150m ($203m) to the Fund.

IEA warns of RE headwinds

28 August 2014 07:33 GMT

Kepco may build Korea-Japan cable

28 August 2014 06:22 GMT

NY governor weighs RE tax break

27 August 2014 10:48 GMT

OneRoof seals $58m solar fund

27 August 2014 02:16 GMT

Yingli cuts 2014 shipments guide

27 August 2014 12:03 GMT

Japan advances electricity reform

27 August 2014 02:05 GMT

Yingli Solar in 66MW UK deal

27 August 2014 08:57 GMT

11.7GW of US PV in 2019: Lux

26 August 2014 01:50 GMT

Arena backs Australia solar R&D

26 August 2014 03:00 GMT

Norway's Scatec Solar eyes IPO

26 August 2014 02:15 GMT

REC gets 85MW US module deal

26 August 2014 08:54 GMT

Hanergy shines in H1

26 August 2014 07:08 GMT

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?


Recharge Monthly Magazine