Encavis, Solgrid getting 14-MW Swedish solar project
- German wind and solar farm driver Encavis AG (ETR: ECV) today said it is in the process of acquiring a 14-MW solar project in Sweden under its collaboration with Norwegian solar developer Solgrid AS.
To be set up in the Vastervik municipality of eastern Sweden, the solar (PV) project will be the 2nd system of a larger portfolio that both companies intend to realise without subsidies. At end-2021, the duo accepted collectively work on an over 100-MWp pipe and also market the electrical power under long-lasting power purchase agreements (PPAs).
The 14-MW project will be owned by EnSol Nordic, a joint venture of Solgrid and also Encavis and 90%-controlled by the German firm. The plant is slated to be connected to the grid in the 3rd quarter of following year. It will join the 5-MW Varberg Norra solar park on the western Swedish coastline, which is currently in operation.
Until packing numerous projects to authorize a long-lasting PPA, Encavis will certainly sell short- and mid-term hedged power agreements, it said.
As concurred in 2021, EnSol Nordc will certainly acquire ready-to-build PV projects in Sweden and Norway, safe project financing and look after their building and construction, operation and upkeep (O&M).
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