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ENCAVIS AG acquires two solar parks (105 MWp) in Denmark from European Energy

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DGAP-News: ENCAVIS AG / Key word(s): Expansion/Alliance
28.12.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

Corporate News

ENCAVIS acquires two solar parks (105 MWp) in Denmark from European Energy

Hamburg, December 28, 2021 - The SDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) has signed a purchase agreement for two solar parks in Denmark with a generation capacity of 105 megawatts (MWp) in total. The subsidy-free solar park Svinningegården in the North-Western part of Zealand represents a generation capacity of 34 MWp and is already connected to the grid. Solar park Rødby Fjord, Lolland, (71 MWp generation capacity) in the very South-Western part of Zealand will be connected to the grid in Q1/2022.

European Energy has developed, constructed, and sold the two solar parks to Encavis. The produced electricity will be sold under long-term Power Purchase Agreements (PPA) over ten years to reputable Tech-Companies, based on a pay-as-produced structure. Additionally, Rødby Fjord will benefit from a 20-year Feed-in-Tariff (FiT) from the Danish Ministry of Energy, Utilities and Climate.

"The acquisition of Svinningegården and Rødby Fjord from European Energy strengthens our market position in Denmark and bolsters our partnership with one of the leading Renewable Energy developers in the Nordics. The two projects diversify our PV portfolio in Northern Europe, jump-start our PV generation capacity in Denmark on short notice to more than 100 MWp, and increase our generation capacity to close to 1.9 gigawatts (GW) within the Encavis Group" underlined Dr Dierk Paskert, CEO of Encavis AG, the ongoing growth trajectory of the Group, aiming for a generation capacity of more than 3.4 GW.

"We are proud to expand our partnership with Encavis, a leading European IPP with an excellent track record. European Energy will work closely together with Encavis on a long-term basis to ensure that the two solar parks reliably deliver green energy and contribute to Denmark's energy transition goals" Knud Erik Andersen, CEO of European Energy A/S, welcomed the next large-scale transaction of European Energy.

Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from renewable energies listed on the SDAX 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 more than 3.0 gigawatts (GW), which corresponds to a total saving of around 1.31 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 "AA" and ISS ESG with their "Prime" label.

Additional information can be found on

About European Energy:
European Energy develops, finances, constructs and operates wind and solar farms as well as large-scale PtX plants. Based in Copenhagen, Denmark, the company has a strong track record as a renewable energy operator across its 18 countries of operation.

Founded in 2004, European Energy has developed for more than 2 GW of energy capacity and is currently constructing for more than 1.2 GW of renewable energy capacity.
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Encavis AG
Jörg Peters
Head of Corporate Communications & IR
Tel.: + 49 (0)40 37 85 62 242

European Energy A/S
Ming Ou Lü
Communications Advisor
Tel.: +45 31 26 93 76

28.12.2021 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.

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