Encavis connects 300-MWp subsidy-free solar park in Spain

05/01/2021 09:12 Solar

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Germany’s Encavis AG (ETR:CAP) has hooked to the grid its 300-MWp Talayuela solar park in Spain’s Extremadura region.

The milestone was achieved on schedule, the German wind and solar park operator said in a bourse filing on Tuesday. The project was implemented without any public subsidies and is supported only by a 10-year financial power purchase agreement (PPA) with an undisclosed party.

 

The scheme was developed by UK-based Solarcentury, while Encavis became its majority owner in 2018 by purchasing an 80% interest.

 

"We will profit strongly from the growing market for long-term private power purchase agreements (PPAs) in many other European countries, as in Spain, in the future," said Encavis’ CEO Dierk Paskert. CFO Christoph Husmann added that the company’s two Spanish assets will bring additional subsidy-free sales of over EUR 36 million (USD 44.2m) in 2021, as well as over EUR 27 million in extra earnings before interest, tax, depreciation and amortisation (EBITDA).

 

Talayuela is Encavis’ second solar farm in Spain and the largest one within its portfolio. In November last year, it brought online the 200-MWp La Cabrera complex in Seville, most of whose output will be sold to Amazon.com Inc (NASDAQ:AMZN).

 

source:renewablesnow.com

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