Encavis, ILOS team up on 300 MW of solar projects in Italy
- German wind as well as solar farm operator Encavis AG (ETR: ECV) said today it has inked a framework agreement with ILOS New Energy Italy S.r.l. for the development of a solar project pipeline of approximately 300 MW in Italy.
The deal provides Encavis unique accessibility to 10 late-stage solar projects in the country as well as raises the solar project pipeline of the German firm's tactical development partners (SDPs) to 2.6 GW.
"With ILOS, we currently have 12 superb Strategic Development Partners aboard to drive the continued varied expansion of our solar generation capacities in Europe and also to achieve our target of a generation capacity of 3.4 GW by 2025 at the latest-- and even earlier," stated Encavis chief running policeman Mario Schirru.
The solar portfolio in Italy includes schemes with an individual capacity of between 20 MW and also 55 MW that are expected to be shovel-ready in the short to mid-term. The solar farms will certainly be located in main and also southerly Italy, in addition to Sardinia and also Sicily.
Upon completion, several of the projects in the portfolio will certainly be bundled and also their output will certainly be offered through long-term power purchase agreements (PPAs) based upon a pay-as-produced structure.
Encavis's partner in this agreement is a wholly possessed subsidiary of German solar developer ILOS Projects GmbH, which is backed by facilities mutual fund OMNES Capital.
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