Encavis, Badenova acquire 45.5-MW solar park bundle in Germany

The asset management unit of German renewables operator Encavis AG (ETR:CAP) today said it has tied up with compatriot Badenova to buy and operate a 45.5-MW portfolio of solar parks at home.

More specifically, a unit of Freiburg-based energy and environmental services provider Badenova has purchased a 49% stake in two special purpose vehicles holding the assets, while a special fund owned by Encavis Asset Management AG and managed by Hansainvest Lux has acquired the controlling 51%. The buyers have jointly invested a sum “in the mid double-digit million range,” Encavis said on Tuesday.

The photovoltaic (PV) parks covered by the deal are located across five sites in Brandenburg and Mecklenburg-Western Pomerania. They were constructed by Trianel Energieprojekte and have been generating power since mid-June 2021.

Encavis Asset Management will take over the management, the technical plant controlling and commercial management of the five plants.

The acquisition marks the first cooperation initiative between Encavis Asset Management and Badenova and is a part of their plan to jointly expand their renewable energy portfolio in Germany.

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