BayWa r.e. is seeking investors for renewable electricity at unspecified locations in Germany and Spain. The selected buyers will have to sign 10-year power purchase agreements.

BayWa r.e., whose largest shareholder is German conglomerate BayWa, has announced a plan to launch a tender in Europe to seek buyers for 10 TWh of renewable electricity through corporate power purchase agreements (PPAs).

The electricity will be provided by renewable energy facilities at unspecified locations in Germany and Spain, and the selected buyers will have to sign 10-year PPAs.

“The tender will take place in autumn 2022 and will see the project’s total output shared with several off-takers, each looking to meet their energy demands with a reliable source of renewable energy,” the company said in a statement. “The tender’s terms and principles are currently being finalized and further information will be shared by BayWa r.e. later this year.”

It did not reveal any other details about the procurement exercise.

Swiss investor Energy Infrastructure Partners (EIP) took a 49% stake in BayWa r.e. last year, with the remaining shares held by BayWa group. The partners have agreed to further strengthen its solutions business, but the company will also remain active as an independent power producer in the future. The plan is to operate selected solar plants and wind farms, with a total output of up to 2.5 GW in the medium term.