Encavis secures €200m UniCredit loan to buy 265-MW Italian PV

• Germany’s Encavis obtains €200 million from UniCredit to acquire a 265-MW solar portfolio in Italy from an EDP unit.

Encavis has closed a €200-million financing package with UniCredit to purchase a 265-MW portfolio of Italian solar parks from an EDP affiliate, advancing a scale-up strategy focused on stable cash-flow assets. The deal adds immediate generation to Encavis’ fleet and reflects bank comfort with permitted, operating or near-operational projects underpinned by credible offtake. 

On the ground, these assets typically run bifacial modules on trackers with string inverters and plant controllers meeting Italian grid standards. Encavis’ portfolio management emphasizes data-rich O&M—IV-curve tracing, thermal inspections, and performance analytics—to squeeze additional basis points from production. With rates still elevated, well-structured debt from a relationship bank can keep the weighted-average cost of capital in check and leave room for selective upgrades, including storage retrofits to lift evening capture prices.

Strategically, the transaction is another marker of consolidation in Europe’s utility PV market, where pipeline scarcity and interconnection bottlenecks reward buyers with balance-sheet strength. Expect Encavis to keep recycling capital into late-stage or operating portfolios that can contribute from day one.