ENCAVIS starts construction on the first solar project from the 500MWp+ pipeline with strategic development partner GreenGo
Hamburg, October 27, 2021 - The SDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) starts construction on its first Danish solar park in Ringkøbing at the Danish Westcoast of the North Sea with a generation capacity of 12 megawatts (MWp) as part of the strategic development partnership with GreenGo Energy Group a/s. Ultramodern bifacial solar modules mounted on single-axis trackers will deliver subsidy-free Renewable Energy beginning in the second half of next year (2022) to an industrial offtaker via long-term power purchase agreement (PPA) of 10 years from this solar park.
"We are very happy to realise with the PV park Ringkøbing the first project of our more than 500 MW strong strategic development pipeline of PPA solar power plant projects with GreenGo in Denmark", welcomes Dr Dierk Paskert, CEO of Encavis AG, the start of construction.
"We are pleased to now reach start of construction on the first zero subsidy solar park under the 500MWp+ partnership agreement with Encavis, an important milestone and testimony to our excellent co-operation ", says Karsten Nielsen, CEO of GreenGo Energy Group a/s.
The 500MWp+ development portfolio acquired by Encavis, is structured to ensure sufficient risk mitigation through diversification across Denmark regarding grid connection and energy marketing.
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 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
About GreenGo Energy Group a/s:
GreenGo was founded in 2011 with the vision to accelerate conversion to renewable energy generation, by an innovative and scalable business model. GreenGo's 360 full services platform includes origination, development, engineering, construction management, operations & maintenance and asset management services fully tailored and bespoke to its client's needs and investment profile. GreenGo has more than 5.5 GWp of solar and storage projects in various stages of development in selected U.S. states and Northern Europe, of which 1.7GWp has achieved financing through partnership agreements.
Additional information can be found on www.greengoenergy.com
Head of Corporate Communications & IR
Tel.: + 49 40 37 85 62 242
GreenGo Energy Group a/s
Tel: +45 31234342
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