The SDAX-listed wind and solar park operator Encavis AG acquires five solar parks in the Netherlands with a generation capacity of 74 megawatts (MWp) in total. Three solar parks, representing a combined generation capacity of 50 MWp, are already connected to the grid. The two other solar parks will be connected to the grid in the months to come. All parks benefit from the Dutch subsidy scheme SDE+ for the first 15 years.
Statkraft developed, built, and sold these five solar parks to Encavis and is also going to provide operational & maintenance (O&M) services as well as long-term asset management services.
“The acquisition of these five solar parks from Statkraft enlarges our generation capacity in the Netherlands to 180 MWp, further diversifies our PV portfolio in Western Europe, and increases our generation capacity to close to 1.9 gigawatts (GW) within the Encavis Group,” underlined Dr Dierk Paskert, CEO of Encavis AG, the ongoing growth path of the Group, aiming for a generation capacity of more than 3.4 GW.
Encavis continues to grow and is still fully on target for the 2021 financial year due to the revenue and results achieved in the first nine months.
Twelve strategic development partnerships with a project pipeline of more than 3.5 gigawatts (GW) will allow Encavis to secure the capacity expansion of its solar park portfolio. Some 60% of the development projects are focused on the three outstanding development regions of Germany, Denmark, and Italy. In the current financial year, Encavis has already been able to acquire parks with a capacity of more than 130 MW for its own portfolio.
During the first nine months of the 2021 financial year, the Group generated revenue of EUR 259.1 million (previous year: EUR 234.3 million), up EUR 24.8 million or approximately 11%. This is largely attributable to the revenue contribution of approximately EUR 31.7 million from the two large-scale Spanish solar parks La Cabrera (200 MWp) and Talayuela (300 MWp). In this way, the Spanish parks alone were able to more than compensate for the weather-related EUR 12.2 million decline in revenue from the existing parks.
The revenue from the solar parks amounted to EUR 198.4 million after the first nine months of 2021, exceeding the previous year’s figure by a total of around EUR 26.3 million.
“Revenue and operating earnings benefited in particular from the two Spanish solar parks as well as the wind parks we acquired and were even able to exceed the figures from the exceptional year 2020, which was marked by unusually positive weather effects. Adjusted for these positive weather effects in the previous year and the unfavourable weather in 2021 (difference amounting to EUR 12.2 million), we achieved revenue growth of just under 17 %, operating EBITDA of roughly 16% and EBIT of around 14%,” says Dr Christoph Husmann, CFO of Encavis AG, commenting on the Encavis Group’s positive performance in the first nine months of 2021.