Encavis obtains EUR 300m in debt for new solar, wind purchases

German wind and solar parks operator Encavis AG (ETR:ECV) has obtained EUR 300 million (USD 320.8m) in debt to back new project acquisitions set in the agenda of its 2027 growth plan.

The company said on Wednesday it has signed a syndicated revolving credit facility until April 30, 2025. The debt was extended by a funding consortium of eight lenders and led by Dutch Cooperative Rabobank UA.

The fresh proceeds will be allocated to expand Encavis’ wind and solar portfolio with new purchases. Under its Accelerated Growth Strategy 2027, the company aims to triple its own contractually secured generation capacity to 8 GW from 2.6 GW at end-2022 and boost its grid-connected plants from 2.1 GW to 5.8 GW.

Earlier this week, Encavis’s shareholders accepted a voluntary public takeover offer by existing investor KKR & Co Inc for a further 53.8% of the German firm’s share capital, valuing its stock at EUR 2.83 billion. With the move, the US private equity company has ensured an 87.41% interest in the wind and solar parks operator.

(EUR 1.0 = USD 1.069)

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