UK markets open in 5 hours 47 minutes
  • NIKKEI 225

    28,195.00
    +19.13 (+0.07%)
     
  • HANG SENG

    20,201.94
    +27.94 (+0.14%)
     
  • CRUDE OIL

    88.11
    -0.90 (-1.01%)
     
  • GOLD FUTURES

    1,790.80
    -0.40 (-0.02%)
     
  • DOW

    32,803.47
    +76.67 (+0.23%)
     
  • BTC-GBP

    19,280.80
    +178.21 (+0.93%)
     
  • CMC Crypto 200

    541.42
    +6.19 (+1.16%)
     
  • ^IXIC

    12,657.55
    -63.04 (-0.50%)
     
  • ^FTAS

    4,111.51
    -6.81 (-0.17%)
     

Encavis Asset Management AG acquires solar park in Spain with a total capacity of 56.3 megawatts for EIF II special fund

·3-min read

DGAP-News: Encavis Asset Management AG / Key word(s): Acquisition/Expansion
12.01.2022 / 07:00
The issuer is solely responsible for the content of this announcement.

/

Corporate News


Encavis Asset Management acquires solar park in Spain with a total capacity of 56.3 megawatts for EIF II special fund


Neubiberg/Munich, January 12, 2022. Encavis Asset Management AG (Encavis AM), subsidiary of SDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) makes first investment in Spain with acquisition of the solar park Archidona in the province of Málaga (Andalusia).

The ground-mounted photovoltaic system will supply 40,400 households with green electricity and save 25,600 tonnes of harmful CO2 per year. For the first time in Encavis' asset management, the sale of energy generated by the facility has been secured through a long-term power purchase agreement (PPA). The solar park is currently under construction and is scheduled to go online in March 2022. It was developed and realised by the global renewable energy company BayWa r.e.

The acquisition will be incorporated into the Encavis Infrastructure Fund II (EIF II) special fund, which is marketed exclusively by Bayern LB. The fund is aimed at banks and lenders - predominantly savings banks and cooperative banks - which attach great importance to stable cash flows from their investments and bank-specific reporting KPIs.

"We have been advising our fund investors on the acquisition of numerous wind and solar parks in the past few months," said Karsten Mieth, Spokesman of the Management Board of Encavis Asset Management AG. "This investment marks our first foray into the Spanish renewables market, which is one of the fastest growing in Europe. Our special fund has expanded and diversified its portfolio with the addition of another attractive region."

Matthias Taft, CEO of BayWa r.e., comments: "We are pleased to realise our fifth solar park in Spain and be able to continue our successful partnership with Encavis Asset Management AG. With the PPA already in place with AB InBev, the world leading brewer, to power its European breweries with renewable electricity and to make a significant step towards its sustainability goals, this is a highlight project for all parties involved".



About Encavis Asset Management AG:

Encavis Asset Management AG offers institutional investors tailor-made portfolios and fund solutions for investments in the growth market of renewable energies. The Company has been successfully investing in this sector since 2006, covering the entire value chain from asset sourcing to the operational management of investments.

Encavis Asset Management AG is a wholly owned subsidiary of SDAX-listed Encavis AG (ISIN: DE0006095003, Prime Standard, Ticker symbol: ECV) and, as part of the Encavis Group, benefits from their many years of experience and a broad industry network.

Encavis AG is one of the leading independent power producers (IPPs) in the field of Renewable Energies in Europe. The Company acquires and operates solar power plants and (onshore) wind farms in Germany and nine other European countries. The Encavis Group's total generation capacity currently accounts to more than 3.0 gigawatts (GW), which corresponds to a total saving of around 1.31 million tonnes of CO2 per year.

Encavis AG is a signatory of both UN Global Compact and UN PRI network and the 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 "AA" and ISS ESG with their "Prime" label.

Please visit our website www.encavis-am.com for additional information.

 

Contact:

Encavis AG
Tanja Van den Wouwer
Head of Sustainability & Communications
Telephone +49 89 44230 6025
tanja.van_den_wouwer@encavis.com


12.01.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting