BayWa r.e., the renewable energy division of BayWa AG, has finalized the sale of a 517MW(dc) solar portfolio in the United States, marking the company's largest portfolio sale to date.
The portfolio comprises three solar projects located within the service areas of the Pennsylvania, New Jersey, Maryland (PJM) Interconnector, and the Midcontinent Independent System Operator (MISO). These projects are scheduled to connect to the grid in 2025.
The buyer, an undisclosed privately held independent power producer (IPP), will take ownership of the projects, reinforcing the growth of renewable energy capacity in key U.S. markets.
Fred Robinson, CEO of BayWa r.e. Americas, highlighted the significance of the transaction, stating, “This transaction reaffirms our strategy in identifying high-quality projects in key markets. We look forward to further expanding our pipeline to meet the rapid demand growth in the U.S.”
Legal counsel for BayWa r.e. was provided by Stoel Rives, with Marathon Capital serving as the sell-side advisor.
