EQS-News: ENCAVIS AG / Key word(s): Expansion/Takeover
Encavis AG increased its stake in Stern Energy SpA to 80%
The further investment in Stern Energy is an important strategic step forward for Encavis to strengthen the already existing significant Europe-wide presence in the technical solar services business. Encavis counts on several years of successful collaboration with its partner Stern Energy who is already responsible for the technical operations of a significant part of its portfolio across Europe. Encavis and Stern Energy will strive together to achieve further efficiencies by onboarding existing and new service contracts as well as by in-sourcing sub-contracts. Stern Energy’s further growth is focused on the Europe-wide activities in the technical solar services business for third party clients that account already for around 70% of the current revenue.
"Stern Energy is our preferred O&M partner in all existing solar plants of the Group. Stern Enregy is a competent and competitive player on the market that allows us to reduce our costs and increase the margin distributon across our value chain. Furthermore we will benefit from the expertise in taking care of project developers to secure early access to new solar projects in attractive PPA markets”, Mario Schirru, Chief Investment Officer/Chief Operations Officer (CIO/COO) of Encavis AG, welcomed the very positive future prospects in total.
The generation capacities under management of the combined O&M business and the O&M additional services business of Stern Energy grew in the past five years with a CAGR of more than 37% from around 250 MWp in 2017 to around 1,300 MWp in 2021. Stern Energy SpA will be fully consolidated for the first time in the Consolidated Financial Statements of fiscal 2022 pro rata temporis for around two months.
"We are very proud to consolidate the partnership with Encavis that will allow Stern Energy to sustain, with the strength of a solid international Group, the unprecedented growth we expect in the market. Stern Energy remains the key player, with a wider international reach, for all those asset owners seeking quality and high-performance technical services", underlined Ernesto Magnani, CEO of Stern Energy SpA.
Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with "A" and ISS ESG with their "Prime" label.
Additional information can be found on www.encavis.com
About Stern Energy:
Additional information can be found on www.stern-energy.com/de
03.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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