DGAP-News: ENCAVIS AG / Key word(s): Incoming Orders/Contract
Successful entry into Spanish growth market
Encavis participation Pexapark (Zurich/CH) acts as PPA advisor
Hamburg, September 17, 2019 - ENCAVIS AG (Prime Standard, ISIN: DE0006095003), the Hamburg-based SDAX-listed renewable wind and solar energy company, has signed a long-term power purchase agreement (PPA) with a leading international energy company for ten years for the largest solar farm in the company's history near the Spanish city of Talayuela. With a generation capacity of around 300 MW, this plant is one of the largest solar parks in Europe.
The investment volume, including project-related debt financing, amounts to around 225 million euros. The project developer Solarcentury itself will participate in the investment with 20 percent. The plant is scheduled to be connected to the grid towards the end of the third quarter of 2020. Encavis expects the photovoltaic system to generate annual sales of around 25 million euros from the first full year of operation. The expected return on investment will be above the average yield of Encavis' total portfolio. The project is financed by a renowned consortium of banks. The Swiss Encavis subsidiary Pexapark acts as PPA Advisor.
'The first long-term power purchase agreement (PPA) signed for a solar park without any support from feed-in tariffs is a milestone for Encavis with a clear signal effect for further contracts of this kind and supports our consistent growth strategy in this market segment,' said Dr. Dierk Paskert, CEO of Encavis AG, welcoming the signing of the agreement. 'The conclusion of this PPA and the launch of this park next year will take Encavis to a new level, just as it will stimulate the market for comparable contracts in many countries,' Paskert continued.
PPA - three letters are changing the industry around the world:
More information about the company can be found at www.encavis.com
Head of Investor Relations & Public Relations
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|Große Elbstraße 59|
|Phone:||+49 4037 85 62 -0|
|Fax:||+49 4037 85 62 -129|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||874721|
|End of News||DGAP News Service|