Encavis fund purchases 56.3-MW Spanish solar farm from BayWa

• The asset management subsidiary of German solar and also wind farm driver Encavis AG (ETR: ECV) has actually purchased a 56.3-MW solar park project in Spain in what was its very first bargain on the Spanish market.

Encavis Asset Management AG has gotten the asset for its special fund Encavis Infrastructure II (EIF II), the business claimed on Wednesday without giving monetary details. The fund is marketed exclusively by Munich-based bank BayernLB and also is managed by Hansainvest Lux SA.

The Archidona photovoltaic (PV) park is currently unfinished in the Malaga province of Spain's Andalusia region. The project was established and also is being performed by German renewable energy team BayWa r.e. AG.

Planned to come to be operational in March 2022, the solar farm will certainly be capable of generating sufficient electrical power to cover the consumption of 40,400 residences per year while offsetting 25,600 tonnes of carbon dioxide (CO2) emissions. The plant's output will certainly be sold under a long-lasting power purchase agreement (PPA) with Belgian brewer Anheuser-Busch InBev (EBR: ABI), which in 2020 committed to powering all of its Western European operations with renewables.