EQS-News: ENCAVIS AG
/ Key word(s): Expansion/Alliance
ENCAVIS and ILOS sign framework agreement for a 300 megawatts pipeline of solar projects in Italy – expanding ENCAVIS’ solar project pipeline to 2.6 gigawatts and increasing the number of Strategic Development Partners to 12 again
Hamburg, 25 January 2023 – Hamburg-based wind and solar park operator Encavis AG (Prime Standard; ISIN: DE0006095003; stock symbol: ECV), listed on the MDAX of Deutsche Börse AG, concludes a framework agreement with ILOS New Energy Italy S.r.l. (a wholly owned subsidiary of the German ILOS Projects GmbH) for a solar project pipeline of up to 300 megawatts (MW).
With this new partnership, Encavis gains exclusive access to ten late stage solar park projects in Italy. The individual projects, with generation capacities ranging from 20 MW to 55 MW, are located in central and southern Italy, as well as Sardinia and Sicily. The constantly changing volume of generation capacities in the solar project pipeline of the Strategic Development Partners (SDPs) feeding this pool is thus increasing from recently 2.3 gigawatts (GW) to currently 2.6 GW. Additional generation capacities in both the wind and solar segments will continuously be acquired directly in the market.
"Together with our new partner ILOS, we are continuing to significantly expand our presence in the important Italian market," Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO), welcomes the start of the cooperation and adds, "with ILOS, we currently have 12 excellent Strategic Development Partners on board to drive the continued diversified expansion of our solar generation capacities in Europe and to achieve our target of a generation capacity of 3.4 GW by 2025 at the latest - or even earlier.”
The complete documentation for the respective approval procedures has been submitted or will be submitted shortly for all projects. The pipeline projects are expected to reach ready-to-build (RTB) in the short to mid term. The plan is to bundle several of these Italian projects after completion in order to conclude long-term power purchase agreements (PPAs) based on a pay-as-produced structure.
"Our partnership with Encavis showcases ILOS's commitment to excellence in the development of green-field PV projects, utilising state-of-the-art engineering solutions to ensure high yields and returns," states Sergio Chiericoni, Managing Director of ILOS Italy.
Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their "A" level and ISS ESG with their "Prime" label.
Additional information can be found on www.encavis.com
Additional information can be found on www.ilos-energy.com
ILOS Projects GmbH
25.01.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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|Listed:||Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1542651|
|End of News||EQS News Service|
1542651 25.01.2023 CET/CEST