Encavis

What Encavis does

Encavis AG is a Hamburg-based Independent Power Producer (IPP) that owns and operates wind, solar, and battery storage assets across 13 European countries. The company emerged from the 2017 reverse merger of Capital Stage AG and Chorus Clean Energy AG and was taken private by KKR in 2024-2025 as part of a combined $6.4 billion investment with Greenvolt – Energias Renováveis SA. Its operating portfolio reached a record 3.3 GW in 2025, supported by 854 MW of new commissioning, with total installed capacity above 5 GW including 27/44 MW/MWh of battery storage.

The business model is built on three revenue streams: (1) electricity generation and sales from owned solar, wind, and storage assets, sold through long-term Power Purchase Agreements (PPAs) or to the grid; (2) technical and commercial asset management services for renewable projects, including operations and maintenance delivered in partnership with (and through wholly-owned subsidiary) Stern Energy; and (3) structuring of corporate PPAs and institutional mandates for clients seeking renewable exposure. Customers include large industrial and consumer corporates (Alfa Laval, Carlsberg) and utilities (Bord Gáis Energy), with PPAs typically running 10 years and including Guarantees of Origin. Asset acquisition is sourced both through dedicated vendor relationships (PNE AG, UKA Group, EDP Renewables) and direct developer or vendor transactions.

Encavis serves large energy consumers with sustainability and carbon neutrality mandates, institutional investors seeking sustainable infrastructure exposure, project developers needing capital partners, project vendors seeking exit liquidity, and landowners with suitable sites. The company is led by Managing Director Mario Schirru, with Dierk Paskert as CEO and Christoph Husmann as CFO per the supplied leadership table, supported by Jan-Philip Kock as Chief of Staff. The GTM motion is sales-led, targeting institutional investors for mandates and large corporates for green electricity solutions, with M&A as a parallel expansion lever. Headquarters are at Große Elbstraße 59, Hamburg, with a headcount of 251-500.

Name

Encavis

Legal name

Encavis AG

Website

http://www.encavis.com/

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

Encavis AG is a Hamburg-based Independent Power Producer operating wind, solar, and battery storage assets across 13 European countries, with 3.3 GW of operating capacity and over 5 GW installed. It serves large corporates via long-term PPAs, institutional investors via sustainable mandates, and project vendors via M&A.

Ownership category

akta.pro rank

Product category

Independent Power Producer (Renewable Energy)

NAICS

Electric Power Generation (22111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115)

SIC

Electric Services (4911)

akta.pro primary industry

Utility-Scale Power Generation Asset Management (EUAEAMAA)

akta.pro secondary industry

Hybrid Renewable + Storage Plant Integration (Solar+Storage, Wind+Storage) (EUAEAEAE)

Keywords

• Renewable energy generation
• Independent power producer
• Power purchase agreements
• Wind and solar assets
• Institutional energy mandates

Headquarters

HQ city

Hamburg

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity generation and sales: Revenue generated from electricity produced by owned solar, wind, and battery storage assets across Europe, sold through long-term PPAs or to the grid
2. Asset management services: Technical and commercial asset management for renewable energy projects, including operations and maintenance
3. Power Purchase Agreements (PPAs): Structuring and providing PPAs for corporate customers seeking renewable energy supply

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Encavis is a European Independent Power Producer (IPP) that acquires, develops, owns, and operates wind farms, solar PV parks, and battery storage assets in 13 European countries, with more than 5 GW of total installed capacity and 3.3 GW in its operating portfolio. It sells the generated electricity to corporate off-takers via long-term Power Purchase Agreements (PPAs), to the grid, and to wholesale markets, while also providing institutional investors with sustainable investment mandates and energy-intensive corporates with bundled energy management solutions. Asset management and O&M are delivered through its wholly-owned subsidiary Stern Energy.

Product overview

Encavis is a European Independent Power Producer (IPP) operating as a unified renewable energy platform. The company operates wind farms, solar parks, and battery storage assets across 13 European countries, with approximately 5.0+ GW of total installed generation capacity. Core offerings include wind and solar energy asset ownership and operation, complemented by battery storage integration (27/44 MW/MWh). Commercial products include Power Purchase Agreements (PPAs) for corporate energy sourcing and institutional mandates for investors. The company also provides energy management solutions for large energy consumers. Supporting services include landowner partnerships, project developer partnerships, and project vendor acquisition services, with Stern Energy handling operations and maintenance.

Differentiator

Problem solved

Functional benefit

Products and services

• Wind Energy Asset Operations Onshore wind farm ownership and operation across 13 European countries. Encavis acquires, develops, and operates wind parks that generate renewable electricity sold under long-term PPAs, feed-in tariffs, and to the wholesale market. Target audience: corporate off-takers via PPAs, institutional investors via mandates, and the European grid.
• Solar PV Asset Operations
• Battery Storage Operations
• Power Purchase Agreements (PPAs)
• Energy Management Solutions
• Institutional Mandates
• Technical and Commercial Asset Management (via Stern Energy)
• Project Vendor Acquisition Services

Quantifiable outcome

• 33,000 households powered by Bebensee wind farm (34 MW)
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature1 record

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• PNE AGcoreStrategic or Co-development PartnerOngoing cooperation arrangement with PNE AG for acquisition of wind farms. Encavis has acquired multiple wind farms from PNE including Bebensee (34 MW), continuing their successful partnership.
• UKA Group (UKA Umweltgerechte Kraftanlagen Holding GmbH)coreStrategic or Co-development PartnerEncavis acquired the 80 MW Vietlübbe wind park from UKA Group, marking the largest wind energy acquisition in Encavis' German portfolio. Transaction includes 14 turbine generators operational since late 2025.
• EDP Renewables Italia Holding S.r.l.coreStrategic or Co-development PartnerAcquisition of the 265 MW Giotto solar portfolio in Italy from EDP Renewables Italia, funded by €200 million bridge financing. Most of the portfolio covered by long-term PPAs.
• Stern EnergycoreStrategic or Co-development PartnerPartnership for technical and commercial asset management. Together with Stern Energy, Encavis ensures efficient execution, stable performance, transparent processes, and continuous data-driven optimization.
• Bord Gáis EnergymajorGTM or Marketing PartnerPartnership for renewable energy PPAs under Ireland's RESS scheme. Encavis providing 629 MW of solar and wind capacity through long-term agreements.
• Alfa LavalmajorGTM or Marketing Partner10-year PPA for solar power supply to Alfa Laval's Italian sites, covering half the output of the 30.36-MW Pozzolo solar park with Guarantees of Origin.
• CarlsbergmajorGTM or Marketing PartnerLong-term PPAs to source renewable electricity for Carlsberg's operations in Norway, Sweden, and Finland, starting January 2026.
• Watson Farley & Williams (WFW)minorImplementation/ SI/ Consulting PartnerLegal advisor providing €135 million project financing for the 199 MW Aragón portfolio acquisition in Spain.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Iberdrola Renovables: Iberdrola's renewables division is one of the largest global wind and solar operators with deep exposure to Spain — directly overlapping Encavis' Aragón portfolio geography. It is a broad incumbent offering similar IPP, PPA, and storage capabilities at substantially greater scale.
• Enel Green Power: Enel Green Power is the global renewable energy arm of Enel Group, operating one of the world's largest wind, solar, and storage portfolios. It is a broad incumbent peer offering the same IPP product set as Encavis (wind/solar ownership, PPAs, storage integration) but at significantly larger scale and global footprint.
• Ørsted: Ørsted is a Danish-headquartered global leader in offshore wind with growing onshore wind, solar, and storage operations. It is a broad incumbent peer operating renewable generation under long-term contracts across European and US markets, comparable in business model though heavier on offshore wind.
• Engie (Renewables): Engie's renewables business operates a multi-GW portfolio of wind, solar, and storage assets across Europe with significant corporate PPA activity. It is a broad incumbent peer offering a comparable mix of utility-scale renewable generation and corporate green-power solutions.
• RWE Renewables: RWE's renewable arm operates a large European and global portfolio of wind and solar assets, with a comparable focus on IPP activities, storage integration, and corporate PPAs. It is a broad incumbent peer overlapping Encavis in Germany and broader European markets.
• Vattenfall (Renewables): Vattenfall is a Swedish state-owned utility with substantial European wind generation operations, particularly in the Nordics, Germany, Netherlands, and the UK. It is a broad incumbent peer overlapping Encavis in Nordic PPA markets (Carlsberg) and Northern European wind assets.

Direct peers

• EDP Renováveis (EDPR): EDPR is one of Europe's largest renewable energy IPPs operating wind and solar across Iberia, North America, and other markets. It is a direct peer to Encavis given its overlapping wind/solar generation portfolio, European footprint, and corporate PPA offerings.
• Acciona Energía: Acciona Energía is a Spanish-listed pure-play renewable IPP with significant wind and solar operations across Europe (especially Iberia), Latin America, and Australia. It is a direct peer given its overlapping European wind/solar focus, IPP ownership model, and PPA offerings.
• Greenvolt – Energias Renováveis: Greenvolt is a Portuguese-based renewable energy group with utility-scale wind, solar, and biomass operations across Europe. KKR's $6.4B combined investment explicitly covers both Encavis and Greenvolt, making Greenvolt a direct portfolio-sibling peer with overlapping European IPP, PPA, and biomass-heat businesses.

Emerging players

• PNE AG: PNE AG is a German wind and solar project developer that has been a recurring acquisition counterparty to Encavis (e.g., Bebensee 34 MW). It is an emerging peer/partner operating in the same German and European wind/solar development pipeline that feeds Encavis' acquisition strategy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/encavis
• Xx.com/encavis

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds3 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Encavis