egg Group acquires UK solar farm from BayWa r.e.

egg Group has bought the project rights to a solar energy farm in Gloucestershire from the global renewable energy company BayWa r.e..

Rag Lane solar farm, outside Bristol, is the first acquisition by clean energy infrastructure investment vehicle, egg Power holdings, which is part of Liberty Global's energy transition growth platform, egg Group. The egg Group also includes egg Solutions - which offers UK homes and businesses clean energy solutions, such as solar panels and battery storage - and Believ, which focuses on publicly-accessible electric vehicle charging points.

Rag Lane is ready to build with construction beginning in early 2025, it will be capable of producing 50 Megawatt peak of renewable energy a year - enough to power 15,000 homes - when it comes online in Q4 2025. It will enable the supply of around five per cent of Liberty Global's operating company and affiliate power demand in the UK - reducing energy costs and carbon emissions.

Ilesh Patel, Lead, egg Power holdings, said: "We are thrilled to complete this important deal with BayWa r.e., acquiring the project rights to Rag Lane solar farm. This is the first acquisition for our egg Power business which will develop, build, own and operate renewable energy projects and services to provide low-cost clean energy to our customers. The Rag Lane solar farm represents a key milestone in our journey towards a greener future, and we look forward to the positive impact it will have on our energy footprint, meeting the needs of our customers and laying our pathway towards net zero. We thank our strategic partner BayWa r.e. for the development to date of Rag Lane solar farm."

Christine McGregor, Managing Director at BayWa r.e. UK Ltd., said: "We are pleased to announce this transaction with Liberty Global, a partner who shares our long-term vision for sustainable sources of clean energy. BayWa r.e. has long been committed to supporting the UK government's green energy ambitions and the desire of UK businesses and communities to transition away from fossil fuels. This achievement underscores our team's excellence in delivering impactful solar energy generation projects."

The project was developed by BayWa r.e. as part of a joint venture with Grϋne Energien Solar (GE). The solar farm will maintain agricultural use of the land with sheep grazing, while enhancing biodiversity and ecological connectivity. Financial benefits packages will be offered to local communities.