21 September 2023
With a team led by Dr Tillmann Pfeifer and Felipe Villena, Taylor Wessing provided comprehensive legal advice to Encavis AG on the acquisition of a 28-megawatt solar park from ILOS Projects GmbH in the Spanish region of Valladolid. With the acquisition, Encavis intends to expand its solar portfolio in Spain to a total of 583 megawatts. Construction work will start shortly and the grid connection is planned for the end of 2024. The parties have agreed not to disclose the purchase price.
Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group's total generation capacity currently adds up to around 3.5 gigawatts (GW), of which more than 2.1 GW belongs to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG. In addition, the Group currently has around 1 GW of capacity under construction, of which more than 600 MW are own assets.
Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy. Stern Energy is a specialist provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.
Legal advisor Encavis AG
Taylor Wessing Germany: Dr Tillmann Pfeifer (Lead Partner, Hamburg), Felipe Villena (Lead Salary Partner), Diana Groß (Associate, both Frankfurt a. M., all Corporate / M&A)
Garrigues (Spain): Silvestre Arana (Partner, Corporate / M&A), Victoria Esteban (Partner, Regulatory), Alvaro Valle (Partner), Julian Belsito (Associate) and Ángela García (Junior Associate, all Corporate / M&A, all Madrid)