NEW YORK/HAMBURG (dpa-AFX) - The wind and solar park operator Encavis may be on the verge of a takeover. The MDax company is said to be in talks with the US financial investor KKR, as the news agency Bloomberg reported on Wednesday afternoon, citing people familiar with the situation. The transaction could be worth more than two billion euros. Negotiations are at an advanced stage and an agreement could be reached in the coming days. However, it is not yet certain whether an agreement will be reached. Encavis shares rose by a good 18 percent. KKR did not want to comment on the information to Bloomberg, Encavis could not initially be reached for comment.

The shares have more than halved in value since a record high in January 2021; the company has a market capitalization of around 1.9 billion euros. The share price losses are part of a sector-wide decline in renewable energies. High interest rates are making investments in larger projects more expensive, while costs are also rising due to inflation.

According to analysts at Berenberg, Encavis' operating results have also recently been negatively impacted by falling energy prices. The company owns more than 80 wind farms and more than 200 solar parks in Europe./nqw/jha/