BayWa r.e. Wind acquires legacy wind projects in Palm Springs
BayWa r.e. Wind has acquired 500 wind turbines in Palm Springs, and is currently seeking offtake agreements with interested corporations or utilities.
BayWa r.e. Wind, LLC has announced their latest acquisition, a series of legacy projects in Palm Springs, California. The projects are consolidated in Coachella Wind, LLC, which is wholly owned by the company. The more than 500 turbines were built in the 1980’s and generate about 70 GWh annually.
Based in Munich, BayWa r.e. Wind develops and consults on, and supports renewable energy projects globally. The company is already in the process of retrofitting the turbines to qualify for the production tax credit.
“The IRS Notice 2016-31 clarifying the PTC qualification under the PATH Act created an opportunity which value we will capture for this legacy asset while considering the future plans,” says Florian Zerhusen, CEO of BayWa r.e. Wind.
She added: “We are currently seeking short-term offtake contracts with corporate or utilities, and welcome offers.”
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