DGAP-Ad-hoc: Wind power plants: BayWa Group expands business to the UK
BayWa AG / Key word(s): Miscellaneous
23.12.2010 14:57
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.
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Wind power plants: BayWa Group expands business to the UK
BayWa AG, Munich, is expanding its renewable energy source business
activities to the United Kingdom: BayWa r.e GmbH, which bundles the
company's entire activities in the renewable energies area, has agreed to
acquire two consented onshore wind parks in the United Kingdom from RWE
npower renewables, an RWE Innogy subsidiary, through its subsidiary RENERCO
Renewable Energy Concepts AG. The purchase price will be around EUR 17
million. The price also includes options for a further eight UK onshore
wind projects which are currently in development, with a total installed
capacity of around 180 megawatts (MW). The two consented projects have a
combined installed capacity of 27 megawatts (MW). Both onshore wind parks
- one in England and one in Scotland - are expected to be constructed and
operational by the end of 2012 at the latest. The acquisition of the two
projects will occur in early 2011.
With the construction of wind power plants in the United Kingdom, BayWa is
continuing its growth strategy in the renewable energies area, and is using
the U.K.'s beneficial geographic and climatic conditions for onshore wind
power plants. BayWa announced further acquisitions also next year in order
to achieve the BayWa Group's medium-term EUR 1 billion revenue target in
the renewable energies area.
RENERCO Renewable Energy Concepts AG, which has been majority-owned by
BayWa r.e since 2009, will manage its equity interest through the UK
project companies for the individual plants. To date, RENERCO's
co-investments have included the construction of one of the largest Spanish
wind parks at La Muela, and it has built a number of wind parks in France,
Italy and Germany.
BayWa Aktiengesellschaft, Arabellastraße 4, D - 81925 München, www.baywa.de
WKN 519406 // ISIN DE0005194062; WKN 519400 //
ISIN DE0005194005
Contact:
Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communication,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98,
e-mail: marion.danneboom@baywa.de
23.12.2010 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: BayWa AG
Arabellastraße 4
81925 München
Deutschland
Phone: 089/ 9222-3691
Fax: 089/ 9222-3698
E-mail: presse@baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of Announcement DGAP News-Service
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