Encavis, one of Europe’s leading independent renewable energy producers, has announced the opening of a new office in Madrid. This move is part of an international expansion plan that also includes, at the same time, the opening of an office in Milan, reflecting the group’s ambition to bring its operational governance closer to its key growth markets in Southern Europe.
Eight years of continuous development in Spain
Encavis entered the Spanish market in 2018, with the acquisition of the Talayuela photovoltaic project (300 MW) in Extremadura. At the time, it was the largest solar plant ever developed by the company, and one of the first major European projects built without public subsidies, backed by a bilateral power purchase agreement (PPA). The plant came into commercial operation in 2021.
The Spanish portfolio expanded the same year with the La Cabrera solar plant (200 MW) in Andalusia. Encavis subsequently strengthened its position in both assets by buying out, in 2021, the remaining minority stakes held by its partners, taking full control of the two plants. In 2024, the company refinanced both projects through a 203 million euro transaction, consolidating two of the most significant photovoltaic assets in its European portfolio.
Technological diversification launched in 2025
2025 marked a further step in Encavis’s Spanish strategy, with the acquisition from BayWa r.e. of a 199 MW portfolio in Aragon. This portfolio comprises three wind farms with a combined capacity of 142 MW, and two photovoltaic plants totalling 57 MW, located near Zaragoza. This transaction represents the first significant integration of wind power generation into Encavis’s Spanish portfolio, which had previously been exclusively solar.
A market that has become a growth driver for the group
Over seven years, Spain has established itself as one of Encavis’s main growth drivers in Europe, supported by a favourable framework for the development of large-scale solar and wind projects and by the maturity of its long-term power purchase agreement market. The opening of a Madrid office formalises this trajectory: it gives the company a direct operational presence to manage its assets, maintain relationships with its industrial and financial partners, and continue developing its portfolio in the country.
This move is part of Encavis’s accelerated growth strategy through 2027, which aims to bring its total installed capacity to 8 GW across Europe.