Solarcentury closes deal with Encavis to finance Talayuela Solar
Madrid: October 9, 2018. Solarcentury, a global leader in the development and operation of solar energy has announced the signing of a deal with the German solar and wind park operator, Encavis AG, for Encavis to acquire the 300 Megawatts (MWp) Talayuela solar plant project (Cáceres).
The deal will involve the sale of 80% of Talayuela Solar to Encavis AG, with the 20% remaining equity staying with Solarcentury, which will also assume the commercial and technical management of the plant.
“This is one of the largest and most powerful solar projects in Europe and is made all the more innovative by being built without subsidy. The acquisition pays testament to the quality of our combined skills and to the strong and productive relationship we have with Encavis. Talayuela is concrete evidence of Solarcentury’s transition to a fully integrated platform that develops, builds and operates solar and storage assets.“ said Frans van den Heuvel, Chief Executive of Solarcentury.
According to Encavis, the signing of this deal cements the relationship between the two companies. “The solar park at Talayuela represents a milestone in our consistent growth strategy and at the same time another major step in our strategic partnership with Solarcentury,” said Dr. Dierk Paskert, Chief Executive of Encavis AG.
The electricity generated by the plant will initially be purchased by a highly creditworthy customer at fixed prices over a period of ten years. The project will be financed by a renowned syndicate of banks.
It is expected that the plant will be connected to the network in the first half of 2020.
According to José Miguel Ferrer, managing director at Solarcentury Iberia, “Spain is a perfect place to develop, build, maintain and operate subsidy-free solar projects due to its excellent irradiation. Talayuela Solar represents the biggest project for Solarcentury to date and is part of the company pipeline of almost 1 GW in different projects and regions in Spain.”
The project has been fully authorised by the Government of Extremadura, which has been supporting this initiative since 2017.
The project was initially developed by Kompa Solaire Sasu and Genia Global Energy Solutions, SL, both engineering companies which develop and promote renewable energy projects for the spot market.
300 MWp of solar power
The plant will have a power capacity of 300 MWp, making it one of the most powerful in Europe. The solar energy generated will be enough to power 150,000 homes every year (equivalent to the number of homes in Badajoz).
Talayuela Solar is being built without subsidy and is based on a power purchase agreement (PPA) business model. It is set to become one of the most innovative projects in the country thanks to its high efficiency and respect for the environment.
Solarcentury is one of the most respected solar companies in the world. Founded in 1998, we have been around since the early days of the industry and have been part of the evolution that has made solar electricity the mainstream energy source that it is today. We have put solar on a greater variety of sites than any other company in the industry, and won multiple awards for leadership and innovation. To date, we have developed and built more than 1 GWp and have a pipeline of 2.4 GWp.
We work end-to-end: developing, structuring finance, building and operating solar projects at commercial and utility scale. We work with partners to bring solar to their customers’ homes. We’re committed to making solar more accessible and attractive. All our customers benefit from our experience in terms of engineering quality, financial stability and sheer breadth of deployment.
Solarcentury is in business for a purpose: to make a meaningful difference in the fight against climate change through the widespread adoption of solar power. As a big believer that solar can help change our world for the better, we contribute 5% of our annual net profits to SolarAid; the charity we founded which aims to eradicate kerosene lamps from Africa.
Our business is global and growing, with European offices in the UK, the Netherlands, Spain, France, and Germany; Latin American offices in Panama, Mexico and Chile; and an African office in Kenya.
Madrid Press Officer
Claudio Coello, 124-2 /28006 Madrid
Cell phone: 699.448.013
About Encavis AG
Encavis AG is one of the leading independent power producers (IPPs) in the field of renewable energy in Europe. The company acquires and operates solar power plants and (onshore) wind farms in Germany and in nine other European countries. The total generation capacity of the Encavis Group is currently almost 2 gigawatts (GW). With its wind farms and solar parks, the company generates attractive financial returns, as well as very stable income irrespective of economic conditions.
Encavis AG also provides institutional investors with the benefit of its many years of experience and market knowledge in the field of renewable energies. Within the Encavis Group, Encavis Asset Management AG specialises in the field of institutional investors. Encavis Technical Services GmbH is also the Encavis Group’s service unit for the technical management of solar parks.
Encavis AG is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and on the regulated market of the Hamburg Stock Exchange (ISIN: DE0006095003 / WKN: 609500) and the SDAX of the German Stock Exchange.
You can find more information on the company at www.encavis.com.
Head of Investor & Public Relations
Tel.: + 49 (0)40 37 85 62-242
Fax: + 49 (0)40 37 85 62-129
Notes to editors
Solarcentury’s press office:
Nick Collins / Isobel Knight / Alice McLaren
+44 (0)20 3128 8100
Established in 1998, Solarcentury is a global integrated solar power company, and a leader in the development, construction and operation of solar projects and smart energy technology at all scales, across Europe, Latin America and Africa.
Independent and headquartered in the UK, Solarcentury is known internationally for developing and building some of the largest solar farms in the UK, Netherlands, Spain, Kenya and Mexico, as well as other pioneering projects including the world’s first solar bridge at Blackfriars Station in Central London and IKEA’s residential solar offer in Europe.
Solarcentury’s mission is to make solar power mainstream. From homes and commercial rooftops to utility-scale, Solarcentury is making a meaningful difference in the fight against climate change by increasing the accessibility and production of solar power across the world. Over the past 20 years, Solarcentury’s solar projects have generated over 3.5 billion kWh of clean electricity and saved over 1.5 million tonnes of CO2 emissions from entering the atmosphere.
In 2006, Solarcentury helped establish SolarAid, a charity which aims to combat climate change and poverty in the developing world by providing access to solar lights, while helping to eradicate the use of kerosene lamps in Kenya, Malawi, Uganda and Zambia. Solarcentury donates 5% of its net profits to SolarAid, which to date has enabled more than 10 million people across Africa to access safe, clean and sustainable solar light power.
Find more information on the company at www.solarcentury.com/about