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ENCAVIS AG increases green electricity production by 29% in 2020

·3-min read

DGAP-News: ENCAVIS AG / Key word(s): Development of Sales/Sustainability
23.02.2021 / 07:00
The issuer is solely responsible for the content of this announcement.


Corporate News

Encavis AG increases green electricity production by 29% in 2020

Hamburg, February 23, 2021 SDAX-listed wind and solar farm operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) increased electricity generation from renewable energies by a significant 29% in 2020. Electricity production increased from around 2.66 terawatt hours (TWh) in the previous year to around 3.43 TWh in 2020, setting a new record.

The full-year effect of the acquisitions of further wind and solar parks was responsible for the strong increase. An effect that will be even stronger in the current fiscal year 2021 in particular, after the two Spanish large-scale PV projects Talayuela (300 MWp) and La Cabrera (200 MWp) will contribute green electricity for the first time in their full-year production in 2021.

Encavis makes a significant contribution to sustainable and climate-friendly energy supply through the generation of electricity from renewable sources. In 2020, the renewable energy generated by the Encavis Group through the use of photovoltaic and wind power alone avoided the emission of more than 1.25 million tons of CO2, which is harmful to the climate.

"Despite the relatively average weather conditions for solar and wind power in many parts of Europe in the past year, the high availability of our plants in contrast, have again enabled Encavis to make a record contribution of CO2 savings to the carbon footprint," Dr. Dierk Paskert, CEO of Encavis AG, affirmed the company's power production figures. "We will expand our portfolio internationally in line with our >>Fast Forward 2025 growth strategy and further improve our operational efficiency and performance to be able to report very good results in the future," Dr. Paskert underlined the Group's sustainable growth ambitions.

Encavis AG will publish the consolidated financial statements for the 2020 financial year on the evening of March 23, 2021.


About ENCAVIS:
Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) 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 ten 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 2.8 gigawatts (GW), corresponding to a CO2 avoidance of 1.26 million tonnes p.a. in total. 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 www.encavis.com

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

http://www.encavis.com
Twitter: https://twitter.com/encavis


23.02.2021 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:

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:

SDAX

Listed:

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

EQS News ID:

1170226


 

End of News

DGAP News Service

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