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ABO Wind AG secures tariffs in innovation tender; Metzler raises share price target

·3-min read

DGAP-News: ABO Wind AG / Key word(s): Market Report/Research Update
02.10.2020 / 10:28
The issuer is solely responsible for the content of this announcement.

ABO Wind secures tariffs for six projects in first innovation tender

- Solar parks and solar/storage combinations with a total of 20 megawatts were successful

- Electricity storage is gaining importance for ABO Wind

- Several battery storage projects in development

- Metzler analyst raises share price target to 40 euros

ABO Wind has secured tariffs for all six submitted projects in the first innovation tender for renewable energies of the German Federal Network Agency. Contrary to the tenders for wind and solar projects, this tender is technology neutral and different renewable energy systems can be combined.

ABO Wind has won tariffs for three free-field solar parks as well as three projects combining photovoltaics and battery storage. The projects have a total capacity of 20 megawatts and are expected to be commissioned in 2021 and 2022. The three PV projects are located in Aulendorf (Baden-Württemberg), Einöllen (Rhineland-Palatinate) and Mossautal (Hesse). The combination projects are located in Gumpen (Hesse), Lahr and Wahlheim (both Rhineland-Palatinate).

"This six-fold success in the tender is a milestone for our company," says Dr. Thomas Treiling, Head of Project Development in Germany. In view of the growing importance of electricity storage, Treiling stresses the significance of ABO Wind, as a pioneer of renewable energy, being at the forefront of this technology. "The higher the renewable share in German electricity, the more urgent the development and market maturity of storage systems becomes. That is why we are delighted to be able to advance this important innovation."

Electricity storage is a growing business area for ABO Wind and is coordinated in the departments Hybrid Energy and Battery Storage Systems (https://www.abo-wind.com/en/range-of-activities/more-clean-energy/hybrid-energy-systems/index.html) managed by Dr. Julia Badeda. In addition to the three projects that were successful in the tender, ABO Wind is planning a ready-to-build battery storage facility in Kells, Northern Ireland (https://www.abo-wind.com/en/the-company/international/united-kingdom/kells-battery-storage.html) with a capacity of 50 megawatts or 25 megawatt-hours to stabilise the grid: It will be one of the fastest storage systems in the world to react to fluctuations in generation and consumption in the island system. Further battery storage projects are in various stages of planning.

In addition to these large-scale applications, ABO Wind also facilitates cost savings for industrial customers through storage: The Electricity Network Fee Ordinance rewards continuous electricity purchases, while peak loads increase network fees considerably. This is where a battery storage system comes into play by capping peak loads. The storage units allow for a safe and trouble-free integration into existing industrial grids and can provide additional support in the microgrid. The company also offers the service from design to construction as a white label solution for municipal utilities.

Even before the latest tender successes, analyst Guido Hoymann raised the price target for the ABO Wind share from previously 29 to 40 euros. His current analysis as well as previous publications are available for download (https://www.abo-wind.com/en/share/analyst-ratings.html).


02.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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