EQS-News

ENCAVIS AG reaches ready-to-build (RTB) status for a 105 MW solar park in Mecklenburg-Western Pomerania

EQS-News: ENCAVIS AG / Key word(s): Expansion ENCAVIS AG reaches ready-to-build (RTB) status for a 105 MW solar park in Mecklenburg-Western Pomerania 07.03.2023 / 07:05 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

ENCAVIS reaches ready-to-build (RTB) status for a 105 MW solar park in Mecklenburg-Western Pomerania

Hamburg, 7 March 2023 – The Hamburg-based wind and solar park operator Encavis AG (ISIN: DE0006095003, Prime Standard, stock exchange symbol: ECV), which is listed in the MDAX of Deutsche Börse AG, obtained the resolution for the development plan for a solar park with a total capacity of 105 MW at the municipal council meeting on 28 February. This means that the preparatory construction work can be initiated in spring 2023, as planned. It is one of the first solar projects in Mecklenburg-Western Pomerania to successfully pass the target deviation procedure, and at the same time the first project from the development pipeline with the Strategic Development Partner PVPEG (formerly Greifensolar), with whom a second project is being carried out in parallel.

"By creating the conditions for the scheduled start of construction of this high-performance solar park, we are reaching the target of 500 MW, which we set for 2022", said Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO) of Encavis AG, welcoming the important milestone and adds: "Once completed, this will be ENCAVIS's largest solar park in Germany and this will bring the total generation capacity in this core market, which is so important for us, to almost 550 MW."

ENCAVIS is now a big step closer to its target of 3.4 GW of generation capacity as part of its ‘>> Fast Forward 2025‘ growth strategy, with 2.1 GW currently on the grid and almost 360 MW under construction.

Once completed, this solar park will produce subsidy-free electricity, which will be sold directly to an industrial customer through a long-term Power Purchase Agreement (PPA), most likely over ten years.

 

About ENCAVIS:

Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve 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 around 3.5 gigawatts (GW), of which more than 2.1 GW belongs to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO₂ per year stand-alone for the Encavis AG. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.