ENCAVIS AG acquires a ready-to-build 55 MW solar park in Spain

EQS-News: ENCAVIS AG / Key word(s): Expansion/Acquisition
ENCAVIS AG acquires a ready-to-build 55 MW solar park in Spain
29.11.2022 / 07:05 CET/CEST
The issuer is solely responsible for the content of this announcement.

Corporate News
 

ENCAVIS acquires a ready-to-build 55 MW solar park in Spain


Hamburg, 29th November 2022 – The Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; stock exchange symbol: ECV), acquired a 55 MW ready-to-build (RTB) solar park in Spain from Hive Energy (UK).

The solar park development is located in Guillena (Andalucia), a city close to Seville, and will – once built – provide enough electricity to power around 28,300 homes per year. The project has land and grid connection secured already and Encavis aims to commence building shortly. Hive’s Group company, Ethical Power, is in place to construct the park for Encavis. The project was developed by Hive and the company will remain involved in the project until completion.

With this acquisition we will not only add further production capacity to our European Renewable Energy portfolio in line with our ‘>> Fast Forward 2025’ goals, but also further strengthen our already significant business in Spain by teaming up with Hive Energy and its strong presence in the Spanish market”, explains Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO) of Encavis AG. “The next step will be to acquire additional solar parks in Spain to sign an attractive joint Power Purchase Agreement (PPA)", he adds.

Giles Redpath, CEO of Hive Energy, also welcomes the cooperation: “This is the first deal Hive has completed with Encavis and we are extremely happy with the ease of the process and to be working with another likeminded company. The Spanish team is doing a fantastic job with developing and progressing their projects. This is our fourth project completion in the country this year alone and Spain is one of our leading countries for Renewable Energy development.

 

About ENCAVIS:
Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group's total generation capacity currently adds up to more than 3.4 gigawatts (GW), which corresponds to a total saving of more than 1.4 million tonnes of CO2 per year. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with an "A" level and ISS ESG with their "Prime" label.

Additional information can be found on www.encavis.com
 

About Hive Energy:
Hive Energy, headquartered in the UK, was founded in 2010 by Giles Redpath to participate in the significant solar PV expansion across England. The company now operates from over 20 countries globally, including Brazil, Canada, Croatia, Greece, Italy, New Zealand, Serbia, South Africa, Spain, and the UK.

The Hive Energy Group is recognised internationally as a trusted partner in the development, construction, and operation of large-scale Renewable Energy projects. Hive is known for its innovative approach and market leading vision across both Renewable Energy and circular economy industries. Hive has established some of the world’s leading solar projects, including the UK's largest solar park, an upcoming Green Hydrogen plant in Spain, and plans for the world's largest Green Ammonia plant. Hive Carbon has also established its patented technologies in Biochar Activated Carbon and Industrial Biomass Waste conversion. 

Hive is currently developing over 26,000 MW of Renewable Energy projects. To date, Hive’s projects have generated over GBP 1.5 billion capital expenditure in Green Energy projects, saving 1,982,248 tonnes of CO2 each year.

Additional information can be found on www.hiveenergy.co.uk

 

Contact:
ENCAVIS AG
      
Jörg Peters       
Head of Corporate Communications & IR   
Tel.: + 49 40 37 85 62 242      
E-Mail: joerg.peters@encavis.com
 

Contact:
Hive Energy Ltd
      
Jodie Alesbury
Marketing Manager   
Tel.: + 44 1794 32 51 96      
E-Mail: jodie.alesbury@hiveenergy.co.uk



29.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:English
Company:ENCAVIS AG
Große Elbstraße 59
22767 Hamburg
Germany
Phone:+49 4037 85 62 -0
Fax:+49 4037 85 62 -129
E-mail:info@encavis.com
Internet:www.encavis.com
ISIN:DE0006095003
WKN:609500
Indices:MDAX
Listed:Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID:1499805


 
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