DGAP-News: ENCAVIS AG / Key word(s): Expansion/Alliance
ENCAVIS partners with Solgrid on a 100 MWp+ solar portfolio in Sweden
Hamburg/Lillestrøm, December 21, 2021 - The SDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) has signed an investment agreement with the Norwegian Solgrid AS for a portfolio of subsidy-free solar projects in Southern Sweden spanning over 100 MWp. The first solar park in Varberg (West-Coast of Sweden) with a generation capacity of approximately 5 MWp is already connected to the grid. Additional five projects with a capacity over 100 MWp are at various stages along the development value chain, nearing Ready-to-Build (RTB) status.
Ultramodern bifacial solar modules mounted on fixed sub-structures or alternatively on single-axis trackers will deliver subsidy-free Renewable Energy, which is planned to be sold via long-term Power Purchase Agreements (PPAs) with reputable offtakers.
Furthermore, Solgrid and Encavis aim to jointly realise an additional pipeline of solar projects in Sweden and Norway. Solgrid and Encavis will establish a jointly owned company, in which Solgrid will hold 10% as a long-term participation. This company will take over ready-to-build PV projects and will secure project financing, construction, and operation & maintenance (O&M) services as well as the origination and structuring of long-term Power Purchase Agreements (PPAs).
"We are very pleased with the first step of this new partnership with Solgrid on this portfolio of Swedish solar projects. This is in synergy with our growth strategy ">> Fast Forward 2025". Encavis is securing subsidy-free plants in Sweden, an underrated solar location in Europe," Dr Dierk Paskert, CEO of Encavis AG, highlighted Encavis' perspective on this growing market.
"We are proud of this new partnership with Encavis, a leading European IPP with an excellent track record. These agreements will strengthen our ambition of building 500 MWp of solar power plants in Sweden and Norway before 2025," Kristin Melsnes, CEO of Solgrid AS, welcomed the first industry-scale cooperation for Solgrid.
Additional information can be found on www.solgrid.no
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 "AA" and ISS ESG with their "Prime" label.
Additional information can be found on www.encavis.com
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|Listed:||Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1260334|
|End of News||DGAP News Service|