Encavis Expands Spanish Solar Portfolio and Exceeds 2023 Electricity Production Target by 33%, Reaching 1 Terawatt Hour

Encavis AG, a wind and solar park operator based in Hamburg and listed on the MDAX of Deutsche Börse AG, is expanding its portfolio of solar parks in Spain. Two new solar parks in Andalucia are the latest additions. The Lirios solar park, with a capacity of 109 megawatts (MW) and expected to produce 220 gigawatt hours (GWh) per year, is being constructed by BayWa r.e. It is located 35 kilometers west of Seville and is set to be connected to the grid in the fourth quarter of 2025. Meanwhile, the La Florida Hive solar park, with a capacity of 30 MW and an annual production of 60 GWh, is being built southeast of Seville in Dos Hermanas. Developed by Hive Energy, it is scheduled to be connected to the grid in the second half of 2025. This expansion follows Encavis’s acquisition of a solar park project in Guillena, Andalucia, in 2022, which is expected to generate electricity in the third quarter of 2024.

Mario Schirru, the CIO/COO of Encavis AG, expressed enthusiasm for the completion of the last two transactions of the fiscal year 2023, emphasizing the significant opportunity to expand their Spanish solar park portfolio. He noted that with the additional 1 terawatt hour of electricity purchased in 2023, Encavis has not only exceeded its expansion target for the year but has also strategically acquired projects in one of their focus markets that can be swiftly connected to the grid.

In fiscal year 2023, Encavis purchased approximately 550 MW of new generation capacity, translating to an annual electricity production of 1,000 GWh or 1 TWh. This surpasses the original target of acquiring an additional 750 GWh by more than 33%. The acquisition represents the largest generation portfolio ever acquired by the company in a single financial year.