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Greencells Group: Sale of ready-to-build projects expected to generate net cash inflows of well over EUR 25 million in 2022 - Seite 2

"For 2022, we expect Greencells Group Holdings Ltd, which is responsible for project development within the Group, to generate a net cash inflow of well over EUR 25 million from the planned sales of ready-to-build projects. Furthermore, these projects alone will lead to secured EPC revenues at Greencells GmbH of over EUR 230 million in 2022 and 2023. This demonstrates the particular strength of our integrated business model: via project development, which is essentially supported by bond funds in the form of intra-group loans, we generate high cash returns at an early stage, and at the same time, we secure additional EPC revenues," explains Andreas Hoffmann, CEO of Greencells GmbH. "All projects are progressing according to plan. Our projects in Hungary and France are already under construction. For many other projects, the ready-to-build status is only a formality and can be expected within a few months. Large solar projects with the potential to integrate efficient storage are in greater demand than ever before from large utilities and institutional investors these days. In addition, not only does the energy transition need to be driven forward quickly in Europe, but the tragic events in Ukraine have also made us painfully aware of the geostrategic importance of an economy which is much more independent of oil, gas, and coal imports. In line with the high demand, sales negotiations are already well advanced for many of our projects."

About Greencells Group:
Greencells Group is a global project developer and provider of EPC and O&M services for large-scale solar power plants. With a track record of over 2.3 GWp of installed capacity, the company is an experienced partner for the optimal planning, financing, implementation and operation of solar parks. Greencells Group companies employ around 100 people and several hundred skilled workers on their active construction sites. As one of the largest European providers of solar power plants, Greencells Group has already been successfully involved in the construction or planning of more than 135 photovoltaic plants in over 25 countries.