ENCAVIS has acquired another solar park in Spain to expand its generation capacity in Spain to more than 800 MW at year-end 2025

Corporate News


ENCAVIS has acquired another solar park in Spain to expand its generation capacity in Spain to more than 800 MW at year-end 2025
 

Hamburg, 10^th July 2024 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) expands its Spanish solar park portfolio with a further solar park in Andalucia. The Almodóvar solar park (~95 megawatts (MW), 187 gigawatt hours (GWh) annual generation) acquired by BayWa r. e., close to Córdoba, is already under construction and is expected to be connected to the grid in Q4/2025.

The solar park is being equipped with state-of-the-art monocrystalline PV modules mounted on single axis trackers. 76% of the electricity offtake has already been secured through a PPA (pay-as-produced) signed in December 2021 with a 10-year tenor, beginning with the grid connection planned for Q4/2025.

According to the Pexapark European PPA Market Outlook for 2024, Spain remains the country with the largest volume and number of PPA deals for the fifth consecutive year in 2023, with a total of 4.7 GW in 2023. 4.3 GW across 37 contracts stem from Spain’s solar PV sector. Due to demand for PPAs primarily attributable to the hedging needs of industrial companies, Pexapark expects that in 2024 the cumulated 20 GW mark for long-term PPAs in Spain will be exceeded.

“The Spanish PV market has been and still is one of the fastest growing markets in Europe with 5.6 GW growth in 2023, thereby reaching 26 GW of installed PV capacity, second only to Germany,” Mario Schirru, CIO/COO of Encavis AG, welcomes the latest acquisition in Spain. “Spain and Germany will continue to be very important markets this year and Encavis has been active in the Spanish market for more than five years, having built up substantial knowledge and experience.” 

Encavis has recently acquired various projects from BayWa r.e. across several countries over the past years. Almodóvar will in a first step be fully financed by equity by Encavis AG, with project financing planned for next year. together with further Spanish projects from Encavis’ portfolio.

About ENCAVIS:
The Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to more than 3.5 gigawatts (GW), of which around 2.2 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO₂ per year stand-alone for the Encavis AG. In addition, the Group currently has around 1.3 GW of capacity under construction, of which around 930 MW are own assets.

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

ENCAVIS is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “AA” level and ISS ESG with their “Prime” label (A-), the Carbon Disclosure Project (CDP) with its Climate Score “B” and Sustainalytics with its “low risk” ESG risk rating.

Additional information can be found at www.encavis.com 

Contact:
Encavis AG
Jörg Peters
Head of Corporate Communications & Investor Relations
Tel.: +49 40 37 85 62 242
E-mail: ir@encavis.com
http://www.encavis.com