ENCAVIS AG acquires wind farm in Germany with a total of 14.4 megawatts of generation capacity

DGAP-News: ENCAVIS AG / Key word(s): Acquisition
29.06.2020 / 07:07
The issuer is solely responsible for the content of this announcement.

Corporate News

Encavis acquires wind farm in Germany with a total of 14.4 megawatts of generation capacity

Hamburg, June 29, 2020 - Encavis AG (Prime Standard, ISIN: DE0006095003) acquires four of five wind turbines (WTG) from Windpark Viertkamp in the district of Stade in Northern Lower Saxony. The four wind turbines were connected to the grid between December 2019 and February 2020. The fifth and identical WTG belongs to local residents and was already commissioned in 2018. This turbine of the Vestas V126/3.6 type, with a hub height of 137 metres, already produced significantly more green electricity in 2019 than expected. Encavis expects to produce 12.45 GWh p.a. per WTG, or 49.8 GWh per year for the remaining 24.5 years of the project's 25-year life-time cycle. The land is leased for 20 years, with two five-year extension options.

The green electricity is paid for under a fixed Feed-in-Tariff regime in accordance with the German Energy Feed-In Act for a total of 20 years after initial operation until year-end of 2039. These four wind turbines save around 30 thousand tonnes of climate-damaging CO2 emissions every year.

"Our focus on the acquisition of wind turbines that have already proven their efficiency in operation is paying off," said Dr Dierk Paskert, CEO of Encavis AG, welcoming the latest acquisition of this wind farm in Germany, adding that "we will gladly take advantage of such opportunities in the future."

Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) is a producer of electricity from renewable sources listed on the SDAX of Deutsche Börse AG. As one of the leading independent power producers (IPPs) Encavis acquires and operates solar parks and (onshore) wind farms in ten European countries. The plants for sustainable energy generation generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). Within the Encavis Group, Encavis Asset Management AG specializes in the area of institutional investors.

Encavis AG's environmental, social and governance performance was evaluated by ISS-oekom, one of the world's leading ESG research and rating agencies and received the ISS-oekom Prime label.

Further information on the company can be found at www.encavis.com


Encavis AG

Jörg Peters
Head of Investor Relations & Public Relations
Große Elbstraße 59
22767 Hamburg

Fon: + 49 40 37 85 62-242
Fax: + 49 40 37 85 62-129
e-mail: joerg.peters@encavis.com
Twitter: twitter.com/encavis

29.06.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Große Elbstraße 59
22767 Hamburg
Phone:+49 4037 85 62 -0
Fax:+49 4037 85 62 -129
Listed:Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID:1080645

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