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BayWa Geenex to co-develop 350-MW US solar portfolio

September 9 – The renewables arm of German diversified group BayWa AG (ETR:BYW6) is joining forces with US firm Geenex Solar LLC to develop an initial portfolio of solar projects in North Carolina and Virginia totalling 350 MW.

The US unit of BayWa re renewable energy GmbH said this week that the pair will start with a 5-MW project in Northampton, North Carolina, and will proceed with more 20-MW to 100-MW developments over the coming months. The initial project is expected to be completed by the end of the year, while the rest will start power generation in 2017-2018.

The two companies will partner from the earliest stages of development, with BayWa providing turn-key engineering, procurement, construction, financing and operation and maintenance (O&M) services.

“We have a long term plan in the region which now moves into the second phase. Our pipeline is unfolding while being continuously expanded,” said Georg Veit, CEO of Geenex.

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