Encavis reinforces setting in French solar market with minority shares order

Jul 6, 2020 04:16 PM ET
  • German solar as well as wind company Encavis AG has further cemented its placement in the French market by obtaining the oustanding shares in a portfolio of possessions it had actually bought.
Encavis reinforces setting in French solar market with minority shares order
Image: Encavis

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

The action complies with a comparable decision reached to get superior shares in the Spanish large solar job La Cabrera, coming to be the 100% owner of the 200MW capacity project earlier in 2020. Additionally, it has actually acquired the continuing to be shares of both the 18.7 MW Brandenburg/ Havel solar park and also the 6MW Bitterfeld solar park this year.

" Through purchase of minority shares in our solar parks, we are consistently applying our development approach >> Fast Forward 2025," stated Dr. Christoph Husmann, CFO of Encavis AG. "Whenever Encavis has the opportunity to acquire missing out on minority shares in our solar park profile on financially convincing terms, we will certainly capitalize."

On the whole it's been a huge year for Encavis, including partnering with the Hørsholm-based GreenGo Energy Group in May to provide a 500MW-plus solar profile in Denmark as part of a major subsidy-free solar play in Scandinavia.

In April, the business increased its profile with the procurement of 80MWp of Dutch solar assets from renewables designer BayWa r.e

The business's continued expansion complies with an outstanding 2019, with Encavis attaining document profits regardless of the influence of COVID-19 in the last quarter of its complete year results.

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