Encavis bolsters position in French solar market with minority shares grab

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Encavis' Krumbach solar farm. Image: Encavis.

German solar and wind firm Encavis AG has further cemented its position in the French market by acquiring the oustanding shares in a portfolio of assets it had invested in. 

Encavis has picked up the remaining 15% of shares in a portfolio of 12 solar arrays with a total capacity of 75MW, taking its interest in the portfolio to 100%. It elected to do so as part of its '>> Fast Forward 2025 strategy'.

The move follows a similar decision reached to acquire outstanding shares in the Spanish large-scale solar project La Cabrera, becoming the 100% owner of the 200MW capacity project earlier in 2020. Additionally, it has acquired the remaining shares of both the 18.7MW Brandenburg / Havel solar park and the 6MW Bitterfeld solar park this year.

“Through acquisition of minority shares in our solar parks, we are consistently implementing our growth strategy >>Fast Forward 2025,” said Dr. Christoph Husmann, CFO of Encavis AG. “Whenever Encavis has the opportunity to acquire missing minority shares in our solar park portfolio on economically convincing terms, we will take advantage.”

Overall it’s been a big year for Encavis, including partnering with the Hørsholm-based GreenGo Energy Group in May to deliver a 500MW-plus solar portfolio in Denmark as part of a major subsidy-free solar play in Scandinavia.

In April, the company expanded its portfolio with the acquisition of 80MWp of Dutch solar assets from renewables developer BayWa r.e.

The company’s continued expansion follows a stellar 2019, with Encavis achieving record earnings despite the impact of COVID-19 in the final quarter of its full year results.

Read Next

April 13, 2021
European solar investors are coming to terms with smaller returns, however banks, governments and grid operators could do more to help alleviate risk and ease investor concerns.
April 8, 2021
Green hydrogen may become cheaper than natural gas by 2050, falling by 85% over the next 30 years, but declining costs in the solar sector will be crucial for the nascent technology's growth.
March 31, 2021
Renewables investor Cubico Sustainable Investments has completed its acquisition of a European 272MW solar power platform called Grupo T-Solar from I Squared Capital.
March 30, 2021
South Korea-based solar module manufacturer Q CELLS has filed patent infringement complaints in both Germany and France against Astronergy.
March 30, 2021
Local authorities in New South Wales, Australia, have given French independent power producer Neoen the green light to develop a large scale solar-plus-storage production facility in the region despite receiving 50 complaints from members of the public.
March 25, 2021
Thin-film laser systems equipment supplier LPKF Laser & Electronics suffered from delays in receiving new expected orders from two long-stand customers last year.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021