Germany based renewable energy producer Encavis announced that it has signed a deal with ILOS, a venture company, for 300 MW pipeline of solar projects in Italy. As per the deal, Encavis will now have exclusive access to ten late-stage solar park projects in Italy. With power generation capacities ranging from 20 MW to 55 MW, these projects are located in Sardinia, Sicily, and in central and southern Italy.
This deal has now increased Encavis' Strategic Development Partners to 12, and expanded its solar project pipeline to 2.6 GW from 2.3 GW.
Welcoming this partnership, Chief Investment Officer/Chief Operating Officer (CIO/COO) of Encavis, Mario Schirru said, "Together with our new partner ILOS, we are continuing to significantly expand our presence in the important Italian market. With ILOS, we currently have 12 excellent Strategic Development Partners on board to drive the continued diversified expansion of our solar generation capacities in Europe and to achieve our target of a generation capacity of 3.4 GW by 2025 at the latest – or even earlier."
Reacting to this, Managing Director of ILOS Italy said, "Our partnership with Encavis showcases ILOS's commitment to excellence in the development of green-field PV projects, utilising state-of-the-art engineering solutions to ensure high yields and returns."
The documentation process is in progress for the approval of these projects that are expected to reach ready-to-build stage in the near future. Once the projects are completed, they are expected to be bundled up and put out for long-term power purchase agreements (PPAs) based on a pay-as-produced structure.
Meanwhile, last year, Encavis had commissioned its 300 MW Talayuela Solar Power Plant feeding the 1st kWh into the Spanish high-voltage network on January 4, 2021 (see Another 300 MW Solar Project Commissioned In Spain)
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