ENCAVIS AG reaches ready-to-build (RTB) status of its largest Danish solar park of around 140 megawatts of generation capacity

EQS-News: ENCAVIS AG / Key word(s): Expansion/Acquisition
ENCAVIS AG reaches ready-to-build (RTB) status of its largest Danish solar park of around 140 megawatts of generation capacity
20.12.2022 / 07:07 CET/CEST
The issuer is solely responsible for the content of this announcement.

Corporate News
 

ENCAVIS reaches ready-to-build (RTB) status of its largest Danish solar park of around 140 megawatts of generation capacity

 

Hamburg, 20 December 2022 – Hamburg-based wind and solar park operator Encavis AG (Prime Standard; ISIN: DE0006095003; stock symbol: ECV), listed on the MDAX of Deutsche Börse AG, reaches ready-to-build (RTB) status on the around 140 MW solar park in Brønderslev (North Jutland). It is the second successful project from the more than 500 MW strong strategic development partnership of solar projects with GreenGo Energy in Denmark. The generation of solar power in Denmark is particularly attractive to take advantage of higher prices for solar power during periods of low wind.

State-of-the-art, bifacial solar modules mounted on single-axis trackers characterise the solar park being built northeast of Aalborg. Once completed, it will provide subsidy-free renewable energy that will be sold directly to an industrial customer under a long-term power purchase agreement (PPA), expected to last ten years.

"Thanks to this major project, we are a big step closer to our target of 500 MW of additional generation capacity this year with 376 MW currently," said Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO) of Encavis AG, welcoming the project’s ready-to-build (RTB) status, adding, "Our Danish solar park portfolio will then comprise around 260 MW and, together with the Netherlands (around 230 MW) and Germany (around 300 MW), will be one of our largest solar park portfolios in Europe, after Spain (500 MW), and will successfully contribute to diversification."

"We are pleased to reach ready-to-build (RTB) status on this ambitious 280+ hectare 140 MW solar park in Brønderslev, one of the largest solar parks to reach this milestone in Denmark. It will be a landmark project demonstrating how the latest technology in solar PV and enhancement of biodiversity is best applied. The project also demonstrates the power of our platform and 360° business model, how larger project portfolios can advance successfully by competent partners like Encavis AG", Karsten Nielsen, CEO of GreenGo Energy Group a/s, underlined the achievement of ready-to-build (RTB) status of this major project for Encavis AG.

 


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 their "A" level and ISS ESG with their "Prime" label.

Additional information can be found on www.encavis.com

 

About GreenGo Energy:
GreenGo Energy was founded in 2011 with the vision to accelerate conversion to Renewable Energy generation, by an innovative and scalable business model. GreenGo Energy’s 360° full services platform includes project origination, development, offtake, engineering, procurement, construction management, O&M and asset management services, fully tailored and bespoke to our client’s needs and investment profile.

GreenGo Energy now has more than 8 GW of energy projects in various stages of development and construction in selected U.S. states and Northern Europe, of which more than 3 GW has been contracted through partnership agreements with tier 1 investors in the renewable space.

Additional information can be found on www.greengoenergy.com

 

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


Contact:
GreenGo Energy

Jacob Hänel Christensen
Director, Business Development
Tel: +45 20 29 71 54
E-mail: jha@greengoenergy.dk



20.12.2022 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:1516937


 
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