DGAP-News

Greencells Group: Sale of ready-to-build projects expected to generate net cash inflows of well over EUR 25 million in 2022

DGAP-News: Greencells GmbH / Key word(s): Miscellaneous Greencells Group: Sale of ready-to-build projects expected to generate net cash inflows of well over EUR 25 million in 2022 28.03.2022 / 11:00 The issuer is solely responsible for the content of this announcement. Greencells Group: Sale of ready-to-build projects expected to generate net cash inflows of well over EUR 25 million in 2022

• These project sales in 2022 alone are expected to result in EPC revenues of over EUR 230 million in 2022 and 2023
• Secured development pipeline in Europe exceeds 3.5 GWp

Saarbrücken, 28 March 2022 - Greencells Group with its companies Greencells Group Holdings Ltd and Greencells GmbH, a global developer as well as EPC and O&M service provider for utility-scale solar power plants, successfully expands its secured development pipeline in Europe to over 3.5 GWp with the acquisition of the solar projects Leda & Bizarrona (29 MWp) in Spain and Megalo Monastiri (275 MWp) in Greece. The pipeline projects are spread across all major European solar markets where Greencells is also active with its own branches and companies. Specifically, the solar projects are located in Italy (approx. 1,500 MWp), France (approx. 80 MWp), Germany (approx. 100 MWp), Spain (approx. 400 MWp), Greece (approx. 525 MWp), Poland (approx. 300 MWp), Hungary (approx. 250 MWp), the Netherlands (approx. 100 MWp) and Romania (approx. 300 MWp). Greencells is expected to develop all pipeline projects to ready-to-build status by 2023. With a capacity of 3.5 GWp, around 1.5 million households in Europe can be supplied with renewable energy instead of energy generated from fossil or nuclear sources. In addition, Europe's dependence on coal and gas imports, including from Russia, will decrease accordingly.

With the consistent expansion of its secured development pipeline, Greencells Group has completed the transition it began three years ago from a successful EPC and O&M company to a fully integrated platform for utility-scale solar projects across all stages of the value chain. This makes the company one of the largest developers of solar and hybrid projects in Europe.