Encavis strikes the accelerator on 2 COVID-hit Spanish solar farms

Aug 26, 2020 11:55 AM ET
  • Renewables driver Encavis has struck the accelerator on two significant solar projects in Spain beleaguered by COVID delays as it seeks to capitalise on revenue growth.
Encavis strikes the accelerator on 2 COVID-hit Spanish solar farms
Image: Encavis

Encavis today verified that having experienced some delays in the building of the Talayuela and also La Cabrera solar farms in Spain-- both of which are being established by UK EPC Solarcentury-- the operator had actually chosen to accelerate their growth to ensure their conclusion in the second fifty percent of this year.

This came with a cost, Dierk Paskert, chief executive at Encavis, confirmed, but at around EUR500,000 this added expense was "substantially lower than our first calculations", he claimed.

Information of the projects' velocity came as Encavis reported an 8% rise in H1 earnings to EUR154.8 million (US$ 182.8 million), driven generally by the addition of brand-new wind farms in Denmark.

Revenues nevertheless dropped a little, down EUR1.2 million to EUR119.6 million-- which the company attributed to a rise in its 2019 profits driven by far better operating conditions for its profile of sustainable properties.

Encavis has nonetheless reaffirmed its full-year earnings and also profits forecasts, which it expects to drop at around EUR280 million and also EUR220 million respectively.

Encavis' operating profile stands at 191 solar farms as well as 85 wind farms, which it has actually bolstered this year with solar enhancements in both France and also the Netherlands.

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