Encavis, the MDAX-listed wind farm and solar park operator, and badenova, the largest energy supply company in Südbaden, Germany, have announced plans to produce 500 megawatts of electricity-generation capacity from renewable energies.
The partners plan to invest around €200 million ($218 million) by 2027 and launch a new company, Encavis Energieversorger I (EEV), in Hamburg to help lead the effort. EEV will focus on the purchase and operation of wind and photovoltaic systems in Germany in the field of renewable-electricity generation. In addition, related technologies such as battery storage and the marketing of electricity generated from renewable energies will be part of the common approach.
Encavis will hold a 51 percent stake in EEV, and Kommunale Energiewende (KEW) will hold the remaining 49 percent share. Through shares in the holding company KEW, which will be founded by badenova at the start, this cooperation solution is also open to other partners who can