ENCAVIS AG partners with Solgrid AS on a 100 MWp+ solar portfolio in Sweden

DGAP-News: ENCAVIS AG / Key word(s): Expansion/Alliance
21.12.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

Corporate News

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.

Founded in 2020, the Norwegian developer Solgrid aims to become a leading Nordic producer of solar energy. In cooperation with power producers, public authorities and grid operators, the Company develops, builds, operates and own industrial scale solar power plants. Solgrid has a project portfolio of more than 500 MW in Norway and Sweden in different stages. The construction of its first plant (Varberg Norra) started and was completed in 2021. The team and owners have a long track record from the Nordic and international energy and solar power industry.

Solgrid's vision is to accelerate the transition to clean energy based on sustainable solutions.

Additional information can be found on www.solgrid.no

Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from renewable energies listed on the SDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates solar parks and (onshore) wind farms in ten 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 3.0 gigawatts (GW), which corresponds to a total saving of 1.31 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 "AA" and ISS ESG with their "Prime" label.

Additional information can be found on www.encavis.com

Solgrid AS
Kristin Melsnes
Tel.: + 47 952 95 342
E-Mail: kristin@solgrid.no

Encavis AG
Jörg Peters
Head of Corporate Communications & Investor Relations
Tel.: + 49 40 37 85 62-242
E-mail: joerg.peters@encavis.com

Twitter: twitter.com/encavis

21.12.2021 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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EQS News ID:1260334

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