Q3 2023 Funding

Encavis, an independent power producer, acquired three solar projects for a total of 48 MW in the Netherlands from BayWa r.e., a renewable service provider, energy developer, and distributor.

The solar projects in Dokkum (generation capacity of 14 MW), Lemsterhoek (31 MW), and Hoogengraven (3 MW) will benefit from the Dutch SDE+ feed-in tariff scheme for the first 15 years. Hoogengraven has been connected to the grid since June 2020 and Dokkum since July 2022. The grid connection for Lemsterhoek is expected to be finalized shortly.

“The acquisition of these three solar parks from BayWa r.e. expands our generation capacity in the Netherlands to 228 MWp,” emphasizes Mario Schirru, Chief Investment Officer (CIO)/Chief Operating Officer (COO) of Encavis AG, and adds: “We not only benefit from the long-term guaranteed feed-in tariffs in the Netherlands but also possibly higher electricity prices.”

Dr. Benedikt Ortmann, Global Director of Solar Projects at BayWa r.e., comments: “We have already worked successfully with Encavis AG in the past and are pleased to be able to support them with our many years of experience and expertise in the field of solar energy on this project as well. Together, BayWa r.e. and Encavis AG are contributing to a secure and clean energy supply in Europe.”

In July, Gresham House, an asset manager, acquired the 20 MW Beavor Grange Solar project from Anesco, UK-based energy efficiency and renewable energy firm, as part of a three-year development and construction partnership of 200 MW solar projects. The Beavor Grange solar project, located near Axminster, Devon, is the fourth site to transact under the 200 MW ground mount solar partnership.

According to Mercom’s 1H and Q2 2022 report, 66 large-scale solar project acquisitions in Q2 2022 compared to 82 transactions in Q1 2022. Cypress Creek Renewables, a project developer and an independent power producer, acquired a 100 MW solar transmission project from Carson Power, a solar and storage developer. The project is in Rochester, New York, U.S., currently in the early stages of development and is expected to be operational by 2026.