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Edisun Power Europe AG: First Portuguese large-scale plant starts commercial operation

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Edisun Power Europe AG / Key word(s): Miscellaneous

30-Dec-2020 / 19:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

Ad hoc press release
Zurich, December 30, 2020

First Portuguese large-scale plant starts commercial operation

On December 30, the 49 MW plant Mogadouro, the Edisun Power Group's largest photovoltaic plant so far, was connected to the Portuguese electricity grid. Thanks to the successful conclusion of this development project, the Group is on track with its growth strategy and ready for further growth.

The Group has achieved a major milestone with the connection to the grid and is therefore on track with its growth strategy announced in 2019.

The new large-scale plant Mogadouro lies in the northeast of Portugal near the Douro River on a site measuring a good 65 hectares and will produce around 80 million kilowatt hours of electrical energy per year, which is enough to cover the annual electricity requirements of a town of approximately 20'000 inhabitants.

Successful implementation of a challenging project
Smartenergy Invest AG, from whom Edisun Power acquired the project rights in early 2019, was responsible for implementing the project. Construction itself lay in the hands of Efacec, a Portuguese electrical engineering group that operates internationally.

Following delays due to protracted funding negotiations and agreements with around 100 landowners, construction of the plant was completed this year despite challenging conditions posed by the Portuguese COVID-19 regime.

You can gain an impression of the scale of the plant here:

- Time-lapse movie on construction: https://youtu.be/VFRF4M5ziXI

- Aerial view of the Mogadouro plant

- Photo of the 42 MVA transformer (30/60 kV) of the Mogadouro plant

Mogadouro is the first so-called merchant plant of Edisun Power, which means that it was created without any government subsidies or warranties and the electricity produced is sold on the market. A purchase power agreement (PPA) with fixed-price purchase commitments has been agreed with a Portuguese electricity trader to guarantee income in the first years.

Edisun Power sees major potential for photovoltaic systems on the Iberian Peninsula and is pressing ahead at full speed with the development of the other four Portuguese projects with a total capacity of 150 MW.

For more information
Rainer Isenrich, CEO, +41 44 266 61 21, info@edisunpower.com
Reto Simmen, CFO, +41 44 266 61 29, info@edisunpower.com

Edisun Power Group
A listed European solar energy producer, the Edisun Power Group finances and operates solar power installations in a number of European countries. Edisun Power began its involvement in this sector as far back as 1997. The company has been listed on the Swiss Stock Exchange since September 2008. Edisun Power has amassed extensive experience in the realization and acquisition of both national and international projects. Currently, the company owns a total of 38 solar energy installations in Switzerland, Germany, Spain, France, Italy and Portugal.


End of ad hoc announcement

Language:

English

Company:

Edisun Power Europe AG

Universitätstrasse 51

8006 Zürich

Switzerland

Phone:

+41 44 266 61 20

Fax:

+41 44 266 61 22

E-mail:

info@edisunpower.com

Internet:

www.edisunpower.com

ISIN:

CH0024736404

Valor:

2473640

Listed:

SIX Swiss Exchange

EQS News ID:

1157973


 

End of Announcement

EQS Group News Service

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