European independent power producer (IPP) Encavis has acquired a portfolio of Dutch solar assets with a combined capacity of 80MWp from renewables developer BayWa r.e.
The portfolio of seven assets, which includes a 21.8MWp install at Grongingen Airport Eelde and two floating PV projects at Tynaarlo and Sekdoorn, have been taken aboard by Encavis’ asset management arm Encavis AM.
A complete list of assets included in the sale and their capacities is as follows:
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The deal represents the first time BayWa r.e. has moved to sell built solar assets in the Netherlands but continues the developer’s relationship with Encavis having previously sold the IPP European wind and solar projects.
Karsten Mieth, speaker of Encavis’ management board, said the deal was “particularly satisfying” to conclude due to both the ongoing relationship between the two parties and the ongoing COVID-19 pandemic, which has placed considerable pressure on Europe’s solar industry.
BayWa r.e. meanwhile confirmed that further sales from its pool of Dutch solar assets are planned for the coming months and Matthias Taft, board member at BayWa AG, said the sale was further evidence that the firm’s entrance to the Dutch solar market was “absolutely the right thing to do”.
BayWa acquired a 70% stake in a 2GW pipeline of solar projects in the Netherlands in March 2018, committing to build them out alongside original owner GroenLeven. The duo have been active in the market ever since, with a particular eye for floating solar projects.
“Working with GroenLeven, we have a strong development pipeline and have grown the team on the ground fivefold to manage our presence and activities here in the Netherlands. We expect this initial success to be matched as we head into the second half of 2020,” Taft said.
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