EQS-News

ENCAVIS AG acquires a ready-to-build 55 MW solar park in Spain

EQS-News: ENCAVIS AG / Key word(s): Expansion/Acquisition ENCAVIS AG acquires a ready-to-build 55 MW solar park in Spain 29.11.2022 / 07:05 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

ENCAVIS acquires a ready-to-build 55 MW solar park in Spain

Hamburg, 29^th November 2022 – The Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; stock exchange symbol: ECV), acquired a 55 MW ready-to-build (RTB) solar park in Spain from Hive Energy (UK).

The solar park development is located in Guillena (Andalucia), a city close to Seville, and will – once built – provide enough electricity to power around 28,300 homes per year. The project has land and grid connection secured already and Encavis aims to commence building shortly. Hive’s Group company, Ethical Power, is in place to construct the park for Encavis. The project was developed by Hive and the company will remain involved in the project until completion.

“With this acquisition we will not only add further production capacity to our European Renewable Energy portfolio in line with our ‘>> Fast Forward 2025’ goals, but also further strengthen our already significant business in Spain by teaming up with Hive Energy and its strong presence in the Spanish market”, explains Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO) of Encavis AG. “The next step will be to acquire additional solar parks in Spain to sign an attractive joint Power Purchase Agreement (PPA)", he adds.

Giles Redpath, CEO of Hive Energy, also welcomes the cooperation: “This is the first deal Hive has completed with Encavis and we are extremely happy with the ease of the process and to be working with another likeminded company. The Spanish team is doing a fantastic job with developing and progressing their projects. This is our fourth project completion in the country this year alone and Spain is one of our leading countries for Renewable Energy development.”