Encavis AG Acquires Another Solar Park In The Netherlands

Hamburg-based solar and wind park operator Encavis AG has acquired another solar park with a generation capacity of over 14 megawatts (MW) in the Netherlands. At the same time, the three solar parks acquired in 2018 back then ready-for-construction have been completed and connected to the Dutch power grid. This gives Encavis AG an active generation capacity of more than 100 MW in the Netherlands.

Acquired in January 2019, the "Zierikzee" solar park in the province of Zeeland has a generation capacity of 14.1 MW and was connected to the power grid at the end of 2018. The electricity generated by the park is sold long-term for 15 years for a fixed renumeration of almost 11 Euro-Cent per kilowatt, hereafter to the then prevailing market price.

Encavis expects the Zierikzee solar park to generate annual revenues of roughly EUR 1.4 million as of the first full year of operation. The total investment including project-related financing costs amounts to EUR 10.6 million. The seller holds a remaining share of 10 percent in the solar park.

With the new solar park acquired in January 2019 Encavis AG increases its active generation capacity in the Netherlands to some 106 MW. Encavis thus contributes to a sustainable, green energy supply in the Netherlands. Among the solar parks that were successfully taken into operation as planned in December 2018 is the Budel solar park. With a capacity of 43.9 MW the Budel solar park is the largest Dutch solar park of Encavis. The park was taken over by the company as part of the strategic partnership with the UK project developer Solarcentury in March 2018.

"We have increased our presence in the Netherlands actively as scheduled and further enhanced the regional diversification of our portfolio. Furthermore, we were able to complete all of our Dutch PV parks that were acquired as "ready to build"-projects on time and successfully connected them to the power grid.", says Dr. Dierk Paskert, CEO of Encavis AG.