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Blue Elephant Energy AG: Blue Elephant Energy enters Greek market. Acquisition of the largest operational solar park from ABO Wind AG

·3-min read

DGAP-News: Blue Elephant Energy AG / Key word(s): Acquisition/Contract
15.02.2021 / 09:00
The issuer is solely responsible for the content of this announcement.

15.02.2021

Blue Elephant Energy AG ("BEE"), a Hamburg-based independent operator of solar and wind power plants and ABO Wind AG ("ABO Wind"), a global project development company for energy supply plants from renewable energy sources, have reached an agreement regarding the sale of two operational solar parks with a total capacity of 45 MWp.


The first project is located in Kossos, near Xanthi and has a capacity of 7 MWp. The second one is located in Megala Kalyvia, near Trikala with an overall capacity of 38 MWp. Together, both projects will yield an estimated output of about 80 million kilowatt hours per year. To date, Megala Kalyvia is also the largest operational solar park in Greece.

Abo Wind had acquired both projects during development in 2018 and finalised the planning, engineering, construction and grid connection between 2019 and 2020. At Megala Kalyvia, ABO Wind also constructed a new private substation to feed the generated electricity into the high-voltage grid. The project uses single tracker technology to optimize the yield.

"We are pleased to announce the acquisition of these two projects, allowing us to enter the promising Greek market, as well as further diversifying our portfolio geographically. Finally, these solar projects will allow us to further contribute to our overarching commitment towards a more sustainable and cleaner energy supply," comments Tim Kallas, Chief Investment Officer of Blue Elephant Energy AG.

"In only a few years, we have become an important part of the Greek renewable energy market," says ABO Wind's General Manager Panagiotis Sarris. "With these solar projects, we have proven that we are capable of installing even technologically challenging solar parks in record time."

About Blue Elephant Energy AG:
Blue Elephant Energy AG (BEE) acquires and operates solar parks and wind farms in eight countries with a focus on Western-Europe. Founded in 2016, BEE is currently operating a renewable energy portfolio of 1,104 MW, part of which is under construction. BEE's renewable energy assets contribute to a sustainable energy supply by saving 800,000 tons of CO2 annually and providing 335,000 households with clean energy. As part of its ESG strategy BEE directly contributes to social projects on a local level, particularly in Chile and in the Dominican Republic. BEE has secured additional 502 MW Solar Park capacity in the context of co-development agreements with a limited range of developers. With equity provided by BEE's shareholders and participation rights capital provided by medium sized insurance companies, BEE has been able to invest around EUR 1.2 billion since inception.

About ABO Wind AG:
ABO Wind is a globally successful project developer for renewable energies with more than 700 employees. Since 1996, the company has developed and sold wind energy, solar and biogas projects with an output of 3,500 megawatts, more than 1,500 of them as turnkey projects.


Contact:
Blue Elephant Energy AG
Karen Westphal
Jungfernstieg 51
20354 Hamburg
Fon: +49 40 320 27 21 0
Fax: +49 40 320 27 21 02
E-Mail: IR@blueelephantenergy.com
 


15.02.2021 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.
Archive at www.dgap.de

Language:

English

Company:

Blue Elephant Energy AG

Jungfernstieg 51

20354 Hamburg

Germany

Internet:

www.blueelephantenergy.com

EQS News ID:

1168088


 

End of News

DGAP News Service

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