ENCAVIS has secured a €200 million non-bridge financing facility to fund the acquisition of the Italian solar portfolio known as Giotto, with a total capacity of 265 MW. The financing will be used to acquire the portfolio from EDP Renewables Italia Holding. Additionally, the financing for the acquisition has been provided by UniCredit on a non-recourse basis. The Giotto portfolio comprises five solar parks located in Italy, with three projects situated in Lazio and two in Puglia.
Of the total 265 MW capacity, 248 MW is already operational, while the remaining 17 MW is currently under expansion. The portfolio is expected to generate an average of 423 GWh of electricity annually. Four of the projects are backed by long-term power purchase agreements with durations ranging from 10 to 15 years, while the fifth project operates under a 20-year bilateral contract for difference.
In July 2025, Encavis AG acquired a Spanish 199 MW renewable energy portfolio from BayWa r.e.. The portfolio comprises three wind farms with a combined capacity of around 142 MW, and two PV plants totaling 57 MWp. The projects are located approximately 40 km outside Zaragoza, in the Aragon region. Once operational, the portfolio is anticipated to generate approximately 467 GWh of clean electricity annually.