05.09.2019 / 08:10 The issuer is solely responsible for the content of this announcement.
Encavis AG well prepared for strategic growth in the promising market of long-term private power purchase agreements (PPAs)
Hamburg, 5 September 2019 - Encavis AG (ISIN: DE0006095003, Prime Standard), the Hamburg-based SDAX-listed energy producer from renewable solar and wind energy, successfully increased its hybrid convertible bond issued for the first time in 2017 by a nominal amount of 53 million euros to a total nominal amount of 150.3 million euros. Including the premium of EUR 7.55 million, Encavis thus raised around additional 60 million euros in free liquidity and increased the Group"s financial firepower to around EUR 170 million. Equity ratio increased to close to 26% after 24.7% at half-year ultimo on June 30, 2019. Assuming a conversion at the end of the term in 2023 the yield on the newly acquired equity capital amounts to around 3.5% after taxes and corresponds to the level of the average dividend yield.
"Encavis is thus ideally equipped for further strategic growth in the promising market of long-term private-sector power purchase agreements (PPAs)," said Dr. Christoph Husmann, CFO of Encavis AG, welcoming the successful placement of the hybrid convertible bond in just a few hours. The PPAs are contracts between the electricity producer Encavis and its private buyer that regulate the long-term purchase of electricity from renewable sources at a fixed agreed price. These contracts increasingly replace the usual feed-in-tariffs guaranteed by the state. Therefor the potential is enormous. "The proceeds will consequently be used to finance the numerous and attractive large projects we follow currently very concrete", Dr. Husmann underlines the promising perspectives of several opportunistic projects.
About Encavis AG:
Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) is a producer of electricity from renewable sources listed in the SDAX of Deutsche Börse AG. As one of the leading Independent Power Producers (IPPs), Encavis acquires and operates solar parks and (onshore) wind parks in ten European countries. The plants for sustainable energy generation generate stable returns through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPAs). Within the Encavis Group, Encavis Asset Management AG specialises in the area of institutional investors. Encavis Technical Services GmbH is the Group"s own service unit for the technical management of solar parks.
Further information on the company can be found at www.encavis.com
Contact: Encavis AG Jörg Peters Head of Investor Relations & Public Relations ------------------------------------------------------------ Große Elbstraße 59 22767 Hamburg Fon: + 49 40 37 85 62-242 Fax: + 49 40 37 85 62-129 e-mail: firstname.lastname@example.org www.encavis.com Twitter: twitter.com/encavis