Encavis acquires 30 percent stake in Italian O&M specialist Stern Energy
Post date: 26/08/2019 - 20:48
Hamburg-based Encavis AG, a listed operator of wind and solar power plants, has acquired 30 percent of the shares in the Italian operation and maintenance (O&M) service provider Stern Energy Spa. The investment is » an important strategic step forward for Encavis to build-up a significant Europe-wide presence in the technical solar services business«, the company stated. This will enable Encavis to »strengthen the already existing O&M business platform«. The two companies have been working together for several years, and Stern is responsible for the technical operation of most of the Italian and British Encavis solar power plants, as well as a number of projects in the Netherlands. The two partners now want to extend their joint O&M activities in the solar sector »across the entire Encavis portfolio«.
According to the announcement, Stern Energy currently manages a portfolio of solar power plants with a total capacity of around 550 MW. Encavis currently operates 175 solar power plants with a total capacity of over 1.2 GW and 69 wind farms with a total capacity of around 750 MW in ten European countries.