BayWa r.e. has acquired Forsa Energy’s UK renewable energy business. Backed by power-focused private equity firm Riverstone, Forsa Energy develops, builds and operates energy assets across Europe.
The move is part of BayWa r.e.’s growth strategy in the UK to develop more greenfield wind projects. In total, BayWa r.e. will acquire access to a 350MW pipeline of Scottish onshore wind farms – adding to the 823MW of solar and 1,047MW of wind power already under management within the UK and Ireland.
With planning consent on some of the best greenfield sites in Scotland, the pipeline has six wind farms totaling 200MW already in place and the expectation of consent for an additional significant wind farm of a further 150MW by 2020.
In addition to the wind farms, BayWa r.e. will also gain an accomplished onshore wind development and construction team. Led by Alasdair MacLeod, Director of Renewables Generation at Forsa Energy, the team has an unparalleled track-record in greenfield development, pre-construction, construction and asset management, and will be a great addition to the BayWa r.e. family in the UK.
Gordon MacDougall, Managing Director, BayWa r.e. UK Limited commented: “The deal with Forsa Energy marks an exciting time in the UK renewables market, helping to significantly increase capacity. We are delighted to have secured these projects and look forward to developing them. We also want to welcome the new members of our team who have an excellent track record in renewables – having delivered more than 1GW over the years in the UK.
“We are committed to Scottish renewables and the Scottish Government’s onshore wind targets. With this investment, we plan to continue to grow and invest in subsidy free markets by identifying good wind resource opportunities. This acquisition will allow us to undertake more greenfield development, helping us to further expand our presence in the UK and Irish market.”
Onshore wind currently constitutes an important contribution to Scotland’s renewables mix, helping to support the country in reaching its target of achieving 100 percent electricity demand from renewable sources by 2020.
The deal will position BayWa r.e. as one of the leading onshore wind farm developers in Scotland, at a point when the latest UK Government poll shows an all-time high in public support for onshore wind.
Alan Baker, CEO, Forsa Energy commented: “We, and our shareholder Riverstone, are very pleased that BayWa r.e. has acquired our UK onshore wind platform given the significant synergies between the two teams, alignment on strategy and their delivery track-record. BayWa r.e.’s global scale and expertise in delivering wind projects makes it a perfect partner to take our portfolio forward and deliver them into operations in a subsidy free world.
“BayWa r.e. is continuing to build on the foundations the Forsa Energy UK renewable’s team has laid with the landowners, communities and other key stakeholders without who we wouldn’t have been able to contribute to Scotland’s renewable targets. We wish BayWa r.e. and our former colleagues well for the future and hope to see this business become the leading independent renewable energy business in Scotland and beyond. At Forsa Energy, we look forward to continuing a close working relationship in this space.”
BayWa r.e. has taken a long-term view to supporting the growth of renewables in the UK and Ireland. This investment is testament to its desire to increase its position in the market by identifying opportunities for the development of wind and solar. BayWa r.e. will now utilise its experienced teams in the UK to quickly progress with development, with construction on the first 24MW Inverclyde Windfarm now underway.
