BayWa r.e., a German investor in renewable energy, sold a 100% stake in a solar park to MEAG, the asset manager of German reinsurer Munich Re.
The Lynt Farm solar park is located close to Oxford and was built by BayWare r.e. last year.McDonald's Restaurant has agreed to buy the power for a fixed rate for some 15-20 years.
BayWa r.e. will be responsible for the technical and commercial operations of the solar farm, and expects to develop further solar projects in Great Britain before the end of March.
"With solar parks like this we are continuing to diversify our portfolio with sustainable investments characterised by limited risks and good returns. In doing so we are making use of the entire group's expertise", said MEAG's managing director Holger Kerzel.