March 12 (Renewables Now) - German solar and wind park operator Encavis AG (ETR:CAP), formerly Capital Stage, today said it has acquired a 43.9-MW construction-ready solar park in the Netherlands from UK solar developer Solarcentury.
The deal marks the first acquisition under a strategic partnership struck by the companies late last year that gives Encavis access to about 1.1 GW of solar parks over the next three years.
The project, located near Eindhoven, in the province of North Brabant, is expected to be connected to the grid in the final quarter of 2018. It has secured in an auction a feed-in tariff (FiT) of EUR 0.104 (USD 0.128) per kWh over 15 years.
Solarcentury will keep an equity stake of just under 20% and will be responsible for the commercial and technical management of the park.
The total investment, including debt financing on project level, is about EUR 44 million, Encavis said.
The solar park will double the German company's solar generation capacity in the Netherlands to almost 100 MW. "The Dutch solar market is particularly appealing to us due to the government's concrete expansion plans, currency matching and attractive financing terms," said Encavis chief executive Dierk Paskert.
(EUR 1 = USD 1.230)