Encavis has signed a hybrid power purchase agreement (PPA) with Visalia in Spain. Under the three-and-a-half-year agreement, Encavis will supply 60 GWh of renewable electricity annually from its 199 MW Aragon portfolio near Zaragoza. The portfolio consists of two solar parks and three wind farms.
Visalia operates more than 500 urban renewable energy generation facilities, along with over 1,000 km of electricity distribution and high-speed fibre-optic networks. Encavis has 1 GW of operational solar and wind capacity in Spain. Its assets include the 300 MW Talayuela and 200 MW La Cabrera solar parks, as well as the 150 MW Aragon wind project.
Earlier, in December 2025, ENCAVIS 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.