Solarcentury closes deal with Encavis to finance Talayuela Solar
Solarcentury, a global leader in the development and operation of solar energy has announced the signing of a deal with the German solar and wind park operator, Encavis AG, for Encavis to acquire the 300 Megawatts (MWp) Talayuela solar plant project (Cáceres).
The deal will involve the sale of 80% of Talayuela Solar to Encavis AG, with the 20% remaining equity staying with Solarcentury, which will also assume the commercial and technical management of the plant.
“This is one of the largest and most powerful solar projects in Europe and is made all the more innovative by being built without subsidy. The acquisition pays testament to the quality of our combined skills and to the strong and productive relationship we have with Encavis. Talayuela is concrete evidence of Solarcentury’s transition to a fully integrated platform that develops, builds and operates solar and storage assets.“ said Frans van den Heuvel, Chief Executive of Solarcentury.
According to Encavis, the signing of this deal cements the relationship between the two companies. “The solar park at Talayuela represents a milestone in our consistent growth strategy and at the same time another major step in our strategic partnership with Solarcentury,” said Dr. Dierk Paskert, Chief Executive of Encavis AG.
The electricity generated by the plant will initially be purchased by a highly creditworthy customer at fixed prices over a period of ten years. The project will be financed by a renowned syndicate of banks.
It is expected that the plant will be connected to the network in the first half of 2020.
According to José Miguel Ferrer, managing director at Solarcentury Iberia, “Spain is a perfect place to develop, build, maintain and operate subsidy-free solar projects due to its excellent irradiation. Talayuela Solar represents the biggest project for Solarcentury to date and is part of the company pipeline of almost 1 GW in different projects and regions in Spain.”
The project has been fully authorised by the Government of Extremadura, which has been supporting this initiative since 2017.
The project was initially developed by Kompa Solaire Sasu and Genia Global Energy Solutions, SL, both engineering companies which develop and promote renewable energy projects for the spot market.
300 MWp of solar power
The plant will have a power capacity of 300 MWp, making it one of the most powerful in Europe. The solar energy generated will be enough to power 150,000 homes every year (equivalent to the number of homes in Badajoz).
Talayuela Solar is being built without subsidy and is based on a power purchase agreement (PPA) business model. It is set to become one of the most innovative projects in the country thanks to its high efficiency and respect for the environment.