BayWa finds tax equity investor
BayWa r.e. Wind has secured a tax equity investment for its 19.8MW Brahms Wind Project from an affiliate of San Francisco-based Union Bank, N.A.
Terms of the company’s first tax equity transaction were not made public.
BayWa r.e. financed development and construction of the wind farm located in New Mexico. It achieved commercial operation on 7 February.
“This is a very important milestone for our company,” says Florian Zerhusen, chief executive of BayWa r.e.’s US wind business. “Going forward, we intend to continue to access the tax equity market as well as other forms of project finance to build out our pipeline.”
BayWa r.e. maintains an equity stake in the Brahms Wind Project, serves as managing member and will provide asset management services.
BayWa r.e. renewable energy GMBH is a fully-owned subsidiary of Munich, Germany-based BayWa AG.
BayWa r.e. built, owns and operates two other wind projects in Texas and California.