ENCAVIS acquires two ready-to-build solar projects in northern Italy from Hive Energy and Sunleonard Energy (around 18 megawatts)

Corporate News


ENCAVIS acquires two ready-to-build solar projects in northern Italy from Hive Energy and Sunleonard Energy (around 18 megawatts)

Hamburg 10 December 2024 – The Hamburg-based wind and solar park operator Encavis AG has acquired two ready-to-build solar projects in Cobu and Massarenti (south of Ferrara in the province of Emilia-Romagna) with a total generation capacity of 18.4 megawatts (MW) from Hive Energy Limited (UK) and its partner Sunleonard Energy Limited. The two projects are about to start construction and will produce a total of around 28 gigawatt hours (GWh) of green electricity per year once completed (expected at the end of 2025). Ethical Power Italia S.r.l. will construct the two solar parks for Encavis.

‘Our Spanish solar parks, Fundici (55 MW, 2022) and La Florida (30 MW, 2024), which we acquired in recent years, form the basis of our successful collaboration with Hive Energy, which is now being continued with two new Italian projects. The parks not only further expand our Italian portfolio, but are also characterised by their strategic proximity to industrial PPA offtakers,’ explains Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO) of Encavis AG.

Giles Redpath, CEO of Hive Energy Group comments: ‘We are delighted to conclude this third transaction with Encavis, which further reinforces our positive relationship with them by extending it from Spain to Italy. It is also great to see our sister company Ethical Power, build on the successful completion of the Fundici project for Encavis, and expand its activity into the Italian market.’

Stefano Salerno, Hive’s Italian Country Manager and Managing Director of Sunleonard adds: ‘I am incredibly proud to help bring these projects to fruition in my home town of Ferrara, especially as they are amongst the first projects to proceed in the Emilia-Romagna region. Their successful development is testimony to the continued investment of Hive Energy in the region, and we look forward to bringing more projects forward over the coming year.’

The modules of the two solar parks in Cobu and Massarenti will be installed on single-axis trackers. The plan is to conclude a long-term pay-as-produced Power Purchase Agreement (PPA) with an industrial customer.


***


About ENCAVIS:
The Encavis AG (Prime Standard; ISIN: DE0006095003; Ticker symbol: ECV) is a producer of electricity from Renewable Energies. 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 3.6 gigawatts (GW), of which around 2.2 GW belong 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 more than 1.1 GW of capacity under construction, of which around 800 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, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

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 “AA” level and ISS ESG with their “Prime” label (A-), the Carbon Disclosure Project (CDP) with its Climate Score “B” and Sustainalytics with its “low risk” ESG risk rating. 

Additional information can be found at www.encavis.com

Contact:
ENCAVIS AG       
Dr. Oliver Prüfer
Press Officer & Manager Public Relations
Tel.: + 49 (0)40 37 85 62 133
Email: oliver.pruefer@encavis.com


About Hive Energy:
Hive Energy, headquartered in the UK, was founded in 2010 by Giles Redpath to participate in the significant solar PV expansion across England. The company now operates from over 20 countries globally, including Canada, Croatia, Greece, Italy, New Zealand, Serbia, South Africa, Spain, and the UK.

The Hive Energy Group is recognised internationally as a trusted partner in the development, construction, and operation of large-scale renewable energy projects. Hive is known for its innovative approach and market leading vision across both renewable energy and circular economy industries. Hive has established some of the world’s leading solar projects, including the UK’s largest solar park, an upcoming green hydrogen plant in Spain, and plans for the world’s largest Green Ammonia plant. Hive Carbon has also established its patented technologies in Biochar Activated Carbon and Industrial Biomass Waste conversion. 

Hive is currently developing over 26,000 MW of renewable energy projects. To date, Hive’s projects have generated over £1.5billion capital expenditure in green energy projects, saving 1,982,248 tonnes of CO2 each year.

Additional information can be found on www.hiveenergy.co.uk

Contact:
Hive Energy Ltd
Stefano Salerno
Country Manager Hive Italia and Co-owner
Tel +39 3459361022
Email stefano.salerno@hiveenergy.co.uk