Sonnedix and Allianz Global Investors have bought a 41.2MW solar park from BayWa r.e. in the French commune of Hourtin, northwest of Bordeaux.
The Lacs Médocains project consists of four sections, of which three with a capacity of 31.8MW were sold to solar independent power producer (IPP) Sonnedix. The fourth part has been sold to the Allianz Renewable Energy Fund II (AREFII), a closed-end fund of Allianz Global Investors.
The whole solar park can power more than 20,000 households. BayWa r.e. completed the construction works in November 2017 and will continue to provide ongoing O&M of the solar park through its locally based operation and maintenance team.
“We are happy to announce that we have successfully sold this project to two major players in the renewable energy sector”, said Benedikt Ortmann, MD at BayWa r.e. Solar Projects GmbH. “The realization of this major project shows once again the capacity of BayWa r.e. to implement large-scale solar in France with the highest quality standards.”
Sonnedix's operating capacity in France now stands at 189MW.
The business of solar is changing, as the industry scales up, technology, IT and new players to the market will add complexity. This sparks a host of opportunities such as co-location of solar and storage and the rise of unsubsidised solar projects as well as challenges which will question the very business model of European solar asset owners. Solar Finance & Investment Europe is the meeting place for institutional investors, sovereign wealth funds, solar, wind and storage funds and large energy buyers to do business.