BayWa r.e. Sells Brahms Wind Equity Stake

The balance sheet funded project was placed in service last February and the Company announced the closing of tax equity with a Union Bank affiliate last month.

BayWa r.e. Wind, LLC acquired the development rights in July 2013 and quickly moved forward to complete the project. “This transaction completes the full life cycle of the project and confirms the successful execution of the new business plan set out since the company’s takeover by BayWa r.e. only two and a half years ago,” Florian Zerhusen adds. “Our business plan is to acquire development assets, self-fund construction, secure tax equity investment and then sell the sponsor interests in the projects at or after commercial operation. Using this model, we sell turnkey, fully structured projects to strategic and financial investors.“

This marks MIC’s first investment in wind power generation. BayWa r.e. will have a continuing role as asset manager for Brahms. This is the third project BayWa r.e. completed since the takeover and the fourth project will be completed later this year.