The 300 MW solar power project by Encavis is also the first PV project it will realize without state subsidies. Pictured is a solar power plant by Encavis. (Photo Credit: Encavis AG)
- Encavis has become the majority shareholder in the 300 MW Talayuela Solar Park in Spain
- It has invested an unspecified amount in the project which now the largest solar park for the company
- The German company expects the plant to generate €25 million ($28.7 million) annually starting from the first full year of operation
- The project is scheduled to achieve grid connection towards the end of Q1/2020.
German solar and wind farm developer Encavis AG has acquired an 80% stake in the 300 MW Talayuela Solar Park in Spain. Including project-related debt financing, the investment volume adds up to around €225 million ($258.8 million), of which 20% will come from British solar power developer and EPC company Solarcentury.
In December 2017, London based Solarcentury announced it will develop the 300 MW park without subsidies (see 300 MW Subsidy-Free PV Park In Spain). Solarcentury will continue to provide commercial and technical management to the park.
For Encavis this project is a big one – it is now the largest solar park in its history and also becomes the first solar project the company will realize without feed-in-tariffs. The company expects this plant to generate sales of around €25 million ($28.7 million) annually in its first full year of operation, which will significantly increase the average return on its total portfolio.
The project is scheduled to achieve grid connection towards the end of Q1/2020.
“The solar park near Talayuela is a milestone in the consistent implementation of our growth strategy and, at the same time, another big step in our strategic partnership with Solarcentury,” said Dierk Paskert, CEO of Encavis AG. “With the acquisition of this park, while maintaining all return requirements, we are scaling up our overall portfolio while expanding our business to include the fast-growing market for direct power purchase agreements with companies, which will shape the future of Encavis.”