Encavis AG realises first project with Solarcentury by acquiring 43.9 megawatt solar park in the Netherlands
Hamburg, 12 March 2018 - The SDAX-listed solar park and wind farm operator Encavis AG based in Hamburg, Germany, closed a deal on the acquisition of a construction-ready solar park with a total output of 43.9 megawatts (MW) in the Netherlands. The park's project developer is Solarcentury, with whom the Encavis AG entered into a strategic partnership in December 2017 about the access to solar parks with a combined output of around 1.1 GW over the next three years. The solar park acquired today is supposed to be connected to the grid in the fourth quarter of 2018 and will double Encavis AG's total generation capacity on the Dutch solar market to nearly 100 MW. Including debt financing on project level, the total investment volume of the park amounts to around 44 million euros.
Encavis AG closed a deal on the acquisition of an additional solar park in the Netherlands located near the city of Eindhoven, in the province of North Brabant. The solar park has a total generation capacity of 43.9 MW. This will see the company's total generation capacity on the Dutch market doubled to nearly 100 MW within just three months. Grid connection for the newly acquired solar park is scheduled for the fourth quarter of 2018. The seller of the park is London-based Solarcentury, an international, integrated project developer and operator with whom the Encavis AG entered into a strategic partnership in December 2017. The terms of this partnership centre on access to solar parks with a total generation capacity of around 1.1 GW over the next three years.
A state-guaranteed feed-in tariff of 10.4 euro cents per kilowatt hour for 15 years following connection to the grid was secured for the solar park in an auction proceeding. Encavis AG anticipates a turnover of nearly 4.5 million euros per year after the first full year of operation for the photovoltaic power station, with Solarcentury handling the commercial and technical management of the park.
The total investment volume including debt financing on project level amounts to around 44 million euros. Solarcentury itself will be a key investor, with an equity share of just under 20 per cent.
"We are pleased that following our announcement we were now able to acquire the first solar park from our strategic partnership with Solarcentury. We will continue to work on the further implementation of that partnership over the coming months", explained Dr Dierk Paskert, CEO of Encavis AG. "Solarcentury's investment in the solar park speaks for their high level of professionalism and commitment as a partner. The Dutch solar market is particularly appealing to us due to the government's concrete expansion plans, currency matching and attractive financing terms", Paskert added.
Frans van den Heuvel, CEO of Solarcentury, added: "We are delighted to bring the sale of our first project to Encavis. We joined this strategic partnership in order to be able to bring solar parks like this one from development to operation quickly and seamlessly. We look forward to delivering much more of our pipeline with Encavis, in the Netherlands solar market and elsewhere".
About the Encavis Group:
Encavis AG is one of the leading independent power producers (IPPs) in the field of renewable energy in Europe. The company obtains and runs solar power plants and (onshore) wind farms in Germany and in eight other European countries. The total generation capacity of the Encavis Group is currently over 1.5 gigawatt (GW). With its wind farms and solar parks, the company generates attractive financial returns, as well as very stable income irrespective of economic conditions.
Encavis AG also offers it's long-standing experience and market knowledge in the renewable energy segment to institutional investors. Within the Encavis Group, the Encavis Asset Management AG (formerly known as CHORUS Clean Energy AG) is specialized in the business with institutional clients. Furthermore, the Encavis Technical Services GmbH is the Encavis Group's service unit for the technical management of solar parks.
Encavis AG is predecessor of the Capital Stage AG and the CHORUS Clean Energy AG. Encavis AG is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, on the regulated market of the Hamburg Stock Exchange (ISIN: DE0006095003/WKN: 609500) and on the SDAX of the German Stock Exchange.
You can find more information on the company at www.encavis.comContact:
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