ENCAVIS and Innovar Solar sign framework agreement for the development of 500 MW of solar projects in Germany

EQS-News: ENCAVIS AG / Key word(s): Expansion/Alliance ENCAVIS and Innovar Solar sign framework agreement for the development of 500 MW of solar projects in Germany 17.09.2024 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

ENCAVIS and Innovar Solar sign framework agreement for the development of 500 MW of solar projects in Germany

Hamburg, 17 September 2024 – The MDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) and Innovar Solar GmbH, a fast-growing developer of solar projects, have signed a framework agreement for the development of solar projects in Germany with a rolling capacity of 500 megawatts (MW). ‘Rolling’ here means that if individual projects are successfully developed, new projects will follow, so that 500 MW will always be developed in parallel. The same mechanism applies to projects that do not reach ready-to-build (RTB) status within a defined timeframe.

‘The partnership with Encavis is a further step in our endeavour to realise innovative and sustainable solar projects in Germany. The framework agreement with Encavis for 500 MW gives us the opportunity to drive the energy transition forward even faster,’ says Stefan Veltrup, Managing Director of Innovar Solar GmbH.

Mario Schirru, CIO/COO of Encavis AG, adds: ‘The trustful cooperation with Innovar Solar enables us to further expand our solar capacities in Germany from the current 412 MW and to consolidate our position as one of the leading independent producers of electricity from renewable energies in Europe.’

The development of the projects has already begun.


About ENCAVIS:
The 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 3.6 gigawatts (GW), of which around 2.2 GW belong 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. In addition, the Group currently has more than 1.2 GW of capacity under construction, of which around 900 MW are own assets.