Munich Re purchases three photovoltaic facilities in Great Britain

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3 March 2015

Munich Re purchases three photovoltaic facilities in Great Britain

MEAG has acquired sole ownership of three photovoltaic parks in Great Britain for Munich Re.

Located in the south-west of Wales, Cornwall and near Cambridge, the three parks have a total installed capacity of 28 MWp and went into operation in 2014. The vendor is BayWa r.e. renewable energy GmbH, a fully-owned subsidiary of BayWa AG responsible for the group's renewable energy activities. The projects were financed without borrowed funds, and the investment volume is in the double-digit euro millions.

"We are happy to be expanding and further diversifying our renewable energy direct investment portfolio in the UK with these two photovoltaic parks," says MEAG Managing Director Holger Kerzel.

MEAG stands for best practice asset management for Munich Re and ERGO. MEAG has representations in Europe, Asia and North America and also offers its extensive knowhow to institutional investors and private clients from outside the Group. MEAG currently manages assets to the value of around € 247 billion.

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