Union Bank Affiliate Invests In BayWa r.e.’s Brahms Wind Project

BayWa r.e. self-funded the development and construction of the wind farm located in Curry County, New Mexico, which achieved commercial operation on February 7, 2014. With Brahms, BayWa r.e. has constructed, owns and operates three wind projects in New Mexico, Texas and California.

“This is a very important milestone for our company,” noted Florian Zerhusen, chief executive of BayWa r.e.’s U.S. wind business. “Since BayWa’s takeover two and half years ago, we have self-funded all of our projects and this marks our first tax equity financing. Going forward, we intend to continue to access the tax equity market as well as other forms of project finance to build out our pipeline.”

BayWa r.e. maintains an equity stake in the Brahms Wind Project, serves as managing member and will provide asset management services.

BayWa r.e. Wind, LLC is a turn-key developer and operator of renewable energy projects in North America. Headquartered in San Diego, CA, the company has been active in the U.S. since 2001 and is part of BayWa r.e. renewable energy GmbH since August 2011.

About BayWa r.e. renewable energy GmbH:

BayWa r.e. renewable energy GmbH, a 100% subsidiary of BayWa AG, is responsible for BayWa group’s renewable energy business. BayWa r.e. was founded in 2009 and is based in Munich. It acts as a holding company for various business interests in the areas of solar, wind energy, bio-energy and geothermal energy. BayWa r.e. business activities range from project development and realization to PV trade and consulting services. The company covers the entire spectrum of professional technical plant support services, including maintenance. It can also undertake the commercial operations management of plants. A further aspect of BayWa r.e.’s business is biomethane trading. The company has an international focus with its core markets in Europe and the USA. BayWa AG (Munich) is a listed trading company operating on an international platform. Its main business sectors are agriculture, energy and building materials.