Encavis AG has acquired a Spanish solar park portfolio from BayWa r.e. The Almodóvar solar park is a 95 MW solar farm and is already under construction. It is located in Andalucía near the city of Córdoba and has an annual generation of 187 GWh.
Furthermore, the solar park is being fitted with advanced monocrystalline PV modules on single-axis trackers. 76 per cent of the electricity offtake has already been secured through a PPA inked in December 2021 This agreement, which has a 10-year term, will commence with the planned grid connection in 2025.
In June 2024, Encavis AG secured €300 million syndicated revolving credit. The oversubscribed short-term credit will finance the purchase of wind and solar projects, until 30th April 2025. Furthermore, this is under the company’s accelerated growth strategy 2027. The debt was extended by a funding consortium of eight lenders and led by the Dutch COÖPERATIEVE RABOBANK U.A.
