Encavis AG continues growth path and acquires further solar park as well as further wind turbine generators with a total generation capacity of 23 MW

DGAP-News: ENCAVIS AG / Key word(s): Miscellaneous

12.09.2018 / 11:38
The issuer is solely responsible for the content of this announcement.


Hamburg, 12 September 2018 - SDAX-listed Hamburg-based solar and wind park operator Encavis AG has acquired a further solar park in Germany as well as five more wind turbine generators (WTG) in Denmark with a total generation capacity of 23.1 megawatts (MW). The solar park was connected to the power grid in 2012 and benefits until 2032 from a government-guaranteed feed-in tariff of roughly 18 euro cents per kilowatt hour. The five Danish WTGs were connected to the electricity grid in 2014 and benefit from a government-guaranteed premium for a fixed number of full-load hours.

The German 6.6 MW solar park acquired by Encavis is located in the Boizenburg district in Mecklenburg-Western Pomerania some 70 kilometers from Hamburg. Encavis expects the plant to contribute some EUR 1.2 million to revenues as of the first full year of operation. The total investment including project-related debt capital amounts to approx. EUR 9.7 million. The sale of the plant was structured and organized by Irish project developer Power Capital. In January 2018, Power Capital and Encavis AG as well as the Ireland Strategic Investment Fund (ISIF) additionally signed a strategic partnership for investments in the Irish solar market.

The five Vestas V 112 wind power turbines acquired in Denmark have a total generation capacity of roughly 16.5 MW. Three of the five WTGs form part of the Norhede III wind park. The two other WTGs are part of the Norhede II wind park on the Danish North Sea coast. The investment volume for the five WTGs including the project-related debt capital amounts roughly EUR 18.0 million.

In Denmark, wind parks benefit from a government premium granted for the first 22,000 full-load hours. Encavis expects the WTGs to contribute about EUR 2.5 million p.a. to the company's revenues.

"With the newly acquired plants, we have already expanded our portfolio in 2018 by a total generating capacity of more than 65 MW. We are well on track for both, full-year growth and earnings for the whole of 2018." Dr. Dierk Paskert, CEO of Encavis, comments.

About the Encavis Group:
Encavis AG is one of the leading independent power producers (IPPs) in the field of renewable energy in Europe. The company acquires and operates solar power plants and (onshore) wind farms in Germany and in eight other European countries. The total generation capacity of the Encavis Group is currently over 1.6 gigawatts (GW). With its wind farms and solar parks, the company generates attractive financial returns, as well as very stable income irrespective of economic conditions.

Encavis AG also provides institutional investors with the benefit of its many years of experience and market knowledge in the field of renewable energies. Within the Encavis Group, Encavis Asset Management AG specializes in the field of institutional investors. Encavis Technical Services GmbH is also the Encavis Group's service unit for the technical management of solar parks.

Encavis AG is listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange and on the regulated market of the Hamburg Stock Exchange (ISIN: DE0006095003 / WKN: 609500) and the SDAX of the German Stock Exchange.

You can find more information on the company at www.encavis.com


Contact:

Encavis AG

Till Gießmann
Head of Investor & Public Relations
------------------------------------------------------------
Große Elbstraße 59
22767 Hamburg

Fon: + 49 40 37 85 62-242
Fax: + 49 40 37 85 62-129
Email: till.giessmann@encavis.com
Web: www.encavis.com
Twitter: twitter.com/encavis


12.09.2018 Dissemination of a Corporate News, transmitted by DGAP - 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:SDAX
Listed:Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange


 
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