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4-Traders Homepage  >  Equities  >  Xetra  >  BayWa AG    BYW6   DE0005194062

BAYWA AG (BYW6)
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BayWa : Statkraft sign PPA for 170MW Don Rodrigo solar plant in Spain

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04/12/2018 | 12:22pm CEST

BayWa r.e has signed a long-term power purchase agreement (PPA) with Norwegian energy group Statkraft for the 170MW Don Rodrigo solar plant to be built in Spain.

The BayWa r.e. project, which will provide a total output of over 170 MWp, is located south of Seville and is one of the first solar projects of this size in Europe to be realised without any subsidies.

This is made possible by a 15-year PPA that is the first of its kind in Spain. At the same time, it signals Statkraft`s entry into the Spanish market as a leading European provider of PPAs.

BayWa r.e. has already started preliminary work on the project and the plant is expected to be commissioned at the end of the year. In an area covering around 265 hectares (approx. 190 football fields), roughly 300 GWh of solar power will be generated every year - that`s the equivalent to the annual consumption of approximately 93,000 average Spanish households.

BayWa r.e. solar projects managing director Benedikt Ortmann said: "Building one of the first subsidy-free solar projects of this size in Europe is a ground-breaking milestone; both for us as an international renewable energy company and also for the future of the European PV market.

"The fact that we can implement such a project without state funding is largely thanks to the continual improvement of system design and building costs.

BayWa board member Matthias Taft said: "We are entering a new phase of energy generation: for the first time, renewable energy plants are able to generate cleaner power at the same or even lower price as conventional power plants.

This also demonstrates the significant potential of new financing models in ever-changing market conditions. We are delighted to be making such an important contribution to the success of the European energy revolution."

With a portfolio of 15,000 MW, the Norwegian energy group Statkraft is one of Europe`s largest providers of market access for renewable energy.

Statkraft market operations & IT executive vice president Hallvard Granheim said: "With Power Purchase Agreements like the one for Don Rodrigo we are ensuring the long-term financing of new plants and are thus enabling further development of renewable energy across Europe.

"Statkraft is bringing together pan-European electricity producers and companies from trade and industry, and is developing new concepts that add value for both sides. Our customers benefit from our decades of experience in supplying renewable energy at long-term predictable and competitive prices."

(c) 2018 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2018 16 472 M
EBIT 2018 180 M
Net income 2018 53,2 M
Debt 2018 2 496 M
Yield 2018 3,24%
P/E ratio 2018 18,01
P/E ratio 2019 12,73
EV / Sales 2018 0,21x
EV / Sales 2019 0,21x
Capitalization 1 014 M
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Number of Analysts 8
Average target price 32,9 €
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Klaus Josef Lutz Chief Executive Officer
Manfred Nüssel Chairman-Supervisory Board
Andreas Helber Chief Financial Officer
Johann Lang Member-Supervisory Board
Gunnar Metz Vice Chairman-Supervisory Board
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