ENCAVIS Expands Solar Generation Capacity in Spain

ENCAVIS AG, a Hamburg-based wind and solar park operator listed on Deutsche Börse AG's MDAX, has acquired a new solar park in Andalucia, Spain. This acquisition boosts the company's generation capacity in Spain, aiming to surpass 800 MW by the end of 2025.

The Almodóvar solar park, located near Córdoba, has a capacity of approximately 95 MW and is expected to generate 187 GWh annually. Currently under construction by BayWa r.e., it is scheduled for grid connection in Q4 2025. The solar park will use advanced monocrystalline PV modules on single axis trackers, with 76% of its electricity output already secured through a 10-year PPA signed in December 2021.

The Spanish PV market remains vigorous, with a total of 4.7 GW in PPA deals in 2023, the highest in Europe. Encavis' Chief Investment Officer Mario Schirru underscored the continuous growth and strategic importance of the Spanish market, which had reached 26 GW in installed PV capacity by 2023, second only to Germany. The company plans to finance the Almodóvar project initially through equity, with project financing to follow.