Encavis announces the acquisition of a 55 MW ready-to-build (RTB) solar farm in Spain from Hive Energy.
A new project
Encavis indicates that the solar park is located in Guillena, a town near Seville, Andalusia. Once built, the solar project is expected to provide enough electricity to power approximately 28,300 homes per year. In addition, the site already has a plot of land and a connection to the network.
The company says it will begin construction shortly. Hive Group’s company, Ethical Power, is in place to build the park for Encavis. Furthermore, Hive remains involved in the project until its completion.
Mario Schirru, Chief Investment Officer and Chief Operating Officer of Encavis, says:
“With this acquisition, we will not only add additional generation capacity to our European renewable energy portfolio, in line with our Fast Forward 2025 goals, but also strengthen our already significant business in Spain by partnering with Hive Energy and its strong presence in the Spanish market.”
In addition, he indicates that the next step will be to acquire other solar parks in Spain. These possible new acquisitions are part of the objective to sign an attractive joint power purchase agreement (PPA).
A recognized partner
Encavis operates onshore wind farms and solar farms in twelve European countries. The group’s total production capacity currently amounts to over 3.4GW. Thus, the company avoids the emission of more than 1.4 million tons of CO2 per year.
Giles Redpath, CEO of Hive Energy, states:
“This is the first transaction Hive has done with Encavis and we are extremely pleased with the ease of the process and working with another like-minded company. The Spanish team is doing a fantastic job developing and advancing their projects. This is our fourth project completed in the country this year alone and Spain is one of our top countries for renewable energy development.”
In addition, Hive Energy is currently developing over 26,000MW of renewable energy projects. With its projects, the company generates more than £1.5 billion and saves 1,982,248 tons of CO2 each year.
Hive Energy operates in more than 20 countries around the world. The company is setting up the largest solar farm in the UK. In addition, the company plans to develop a next renewable hydrogen plant in Spain
