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ENCAVIS AG acquires two solar parks (105 MWp) in Denmark from European Energy

DGAP-News: ENCAVIS AG / Key word(s): Expansion/Alliance ENCAVIS AG acquires two solar parks (105 MWp) in Denmark from European Energy 28.12.2021 / 07:00 The issuer is solely responsible for the content of this announcement. Corporate News

ENCAVIS acquires two solar parks (105 MWp) in Denmark from European Energy

Hamburg, December 28, 2021 - The SDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) has signed a purchase agreement for two solar parks in Denmark with a generation capacity of 105 megawatts (MWp) in total. The subsidy-free solar park Svinningegården in the North-Western part of Zealand represents a generation capacity of 34 MWp and is already connected to the grid. Solar park Rødby Fjord, Lolland, (71 MWp generation capacity) in the very South-Western part of Zealand will be connected to the grid in Q1/2022.

European Energy has developed, constructed, and sold the two solar parks to Encavis. The produced electricity will be sold under long-term Power Purchase Agreements (PPA) over ten years to reputable Tech-Companies, based on a pay-as-produced structure. Additionally, Rødby Fjord will benefit from a 20-year Feed-in-Tariff (FiT) from the Danish Ministry of Energy, Utilities and Climate.

"The acquisition of Svinningegården and Rødby Fjord from European Energy strengthens our market position in Denmark and bolsters our partnership with one of the leading Renewable Energy developers in the Nordics. The two projects diversify our PV portfolio in Northern Europe, jump-start our PV generation capacity in Denmark on short notice to more than 100 MWp, and increase our generation capacity to close to 1.9 gigawatts (GW) within the Encavis Group" underlined Dr Dierk Paskert, CEO of Encavis AG, the ongoing growth trajectory of the Group, aiming for a generation capacity of more than 3.4 GW.

"We are proud to expand our partnership with Encavis, a leading European IPP with an excellent track record. European Energy will work closely together with Encavis on a long-term basis to ensure that the two solar parks reliably deliver green energy and contribute to Denmark's energy transition goals" Knud Erik Andersen, CEO of European Energy A/S, welcomed the next large-scale transaction of European Energy.