Encavis takes controlling stake in O&M partner Stern Energy

German solar and wind farm operator Encavis AG (ETR:ECV) has boosted to 80% its shareholding in Italian solar energy equipment provider Stern Energy SpA which is its long-term operation and management (O&M) partner.

The additional investment in the Parma-based firm expands Encavis’s position in the European technical solar services business, a press release said today. Financial details were not provided.

Stern Energy provides a broad range of technical services for the construction, management, maintenance and repair of photovoltaic plants. It is currently servicing more than 1,330 MWp generation capacity in the UK, the Netherlands, Germany and Italy.

Encavis first bet on the business in 2019 when it took a 30% minority stake in the Italian company for an undisclosed amount.

“Stern Energy is a competent and competitive player on the market that allows us to reduce our costs and increase the margin distribution across our value chain. Furthermore we will benefit from the expertise in taking care of project developers to secure early access to new solar projects in attractive PPA markets,” Encavis’ CIO and COO Mario Schirru noted in the press release.

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