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ENCAVIS AG acquires a second subsidy-free 14 MW solar park in Sweden

EQS-News: ENCAVIS AG / Key word(s): Expansion/Acquisition
ENCAVIS AG acquires a second subsidy-free 14 MW solar park in Sweden
24.11.2022 / 07:02 CET/CEST
The issuer is solely responsible for the content of this announcement.

Corporate News


ENCAVIS acquires a second subsidy-free 14 MW solar park in Sweden

Hamburg/Lillestrøm, 24 November 2022 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003, stock exchange symbol: ECV), acquires a second solar park in Sweden as part of its partnership with the Norwegian solar park developer Solgrid AS. The park is located in Västervik on the east coast of Sweden, will have a generation capacity of around 14 MW and is planned to be connected to the grid in Q3 2023. The first joint solar park project in Sweden was realised in Varberg on the Swedish west coast in April 2022 with a generation capacity of 5 MW. Encavis and Solgrid aim to jointly develop further solar parks in Southern Sweden with a total generation capacity of more than 100 MW. The plan is to bundle several projects to sign a long-term PPA. In the meantime, Encavis will sell short- and mid-term hedged electricity contracts.


"At Encavis we are excited about the second successful project of our partnership with Solgrid in Sweden. It does not only bring us closer to our capacity expansion in line with our growth strategy ‘>> Fast Forward 2025’, it also strengthens our presence in Scandinavia, which is one of the most interesting new solar energy markets in Europe”, welcomes Mario Schirru, Chief Investment Officer/Chief Operations Officer (CIO/COO) of Encavis AG, the new acquisition.

“We are very pleased to strengthen our partnership with Encavis even further. The solar plant in Västervik will, as the solar plant Varberg Norra, be owned by the joint company EnSol Nordic. We are looking forward to realising more projects together with Encavis in Sweden in the years to come” says Kristin Melsnes, CEO of Solgrid AS.


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 solar parks and (onshore) wind farms in eleven 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 3.4 gigawatts (GW), which corresponds to a total saving of more than 1.4 million tonnes of CO2 per year. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.
Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with "A" and ISS ESG with their "Prime" label.
Additional information can be found on www.encavis.com

 


About SOLGRID:
Founded in 2020, the Norwegian developer Solgrid aims to become a leading Nordic producer of solar energy. In cooperation with power producers, public authorities and grid operators, the Company develops, builds, operates and own industrial scale solar power plants. Solgrid has a project portfolio of more than 1,500 MW in Norway and Sweden in different stages. The construction of its first plant (Varberg Norra) started and was completed in 2021. The team and owners have a long track record from the Nordic and international energy and solar power industry.

Additional information can be found on www.solgrid.no



Contact:
ENCAVIS AG                                                                                         
Jörg Peters                                                                                           
Head of Corporate Communications & IR
Tel.: + 49 40 37 85 62 242                                                    
E-Mail: joerg.peters@encavis.com


Contact:
SOLGRID AS
Kristin Melsnes
CEO
Tel.: +47 952 95 342
E-Mail: kristin@solgrid.no


24.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

ENCAVIS AG

Große Elbstraße 59

22767 Hamburg

Germany

Phone:

+49 4037 85 62 -0

Fax:

+49 4037 85 62 -129

E-mail:

info@encavis.com

Internet:

https://www.encavis.com

ISIN:

DE0006095003

WKN:

609500

Indices:

MDAX

Listed:

Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1495109


 

End of News

EQS News Service

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