ENCAVIS AG reaches ready-to-build (RTB) status for a further solar park in Denmark with a generation capacity of 132 megawatts

Corporate News

ENCAVIS reaches ready-to-build (RTB) status for a further solar park in Denmark with a generation capacity of 132 megawatts

Hamburg, 7 September 2023 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) has now reached the ready-to-build (RTB) status for its 132 megawatts (MW) solar park project in Ringkøbing on the Western North Sea coast of Denmark, an extremely attractive location. It is the third project of the Strategic Development Partnership with GreenGo Energy in Denmark, with a total of around 600 MW. Photovoltaic sites in Denmark are particularly interesting because solar power generation benefits from significantly higher prices in low wind periods.

“In about two and a half years, we have more than 280 MW of generation capacity from photovoltaic projects of our Strategic Development Partner GreenGo Energy in Denmark realised or under construction“, says Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO) of Encavis AG, welcoming the project’s ready-to-build status. He adds: “Our Danish solar park portfolio now comprises almost 400 MW and, together with Germany (over 400 MW) and Spain (583 MW), is one of our largest solar park portfolios in Europe.The involvement of Encavis in Denmark is thus also a contribution to the further diversification of our activities in the growth market of subsidy-free solar energy.”

Commissioning of the state-of-the-art park, with bifacial solar modules mounted on single-axis trackers, is expected for the first quarter of 2026. It is planned to sign a 10-year pay-as-produced Power Purchase Agreement (PPA).

“This is a milestone. For us, for our partnership with Encavis and for the green energy transition in Denmark. We have now reached RTB of this expansive 270+ hectare solar park in Ringkøbing. With a capacity of 132 MW it is one of the largest solar parks in Denmark. The project forms a natural second and larger phase of the M01 project we jointly commissioned with Encavis earlier this year, and it is a clear demonstration of momentum for the energy transition in Denmark. Further it is a testament to our scalable platform and how we advance large project portfolios efficiently with recurrent partners like Encavis AG”, says Karsten Nielsen, CEO of GreenGo Energy.

About ENCAVIS:
The 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 (onshore) wind farms and solar parks in twelve 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 3.5 gigawatts (GW), of which more than 2.1 GW belongs to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO₂ per year stand-alone for the Encavis AG.

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialized provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

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 their “A” level and ISS ESG with their “Prime” label.

Additional information can be found on www.encavis.com

About GreenGo Energy Group a/s:
GreenGo Energy was founded in 2011 with the vision to accelerate the conversion to renewable energy generation, by an innovative and scalable business model. GreenGo Energy’s 360 degree full service platform includes origination, investment structuring, development, offtake, EPC management and and asset management services, fully tailored and bespoke to our client’s needs and their investment profile.

GreenGo Energy has 19 GW of solar, wind, BESS and P2X projects in various stages of development and construction in seven U. S. states and in Northern Europe , of which more than 4.5 GW have been contracted through partnership agreements with Tier-1 investors in the renewable space.

GreenGo Energy is headquartered in Denmark, with over 100 employees serving customers worldwide. To learn more, visit  www.greengoenergy.com

Contacts:
Encavis AG
Jörg Peters
Head of Corporate Communications & Investor Relations
Tel.: + 49 40 37 85 62 242
E-Mail: joerg.peters@encavis.com

GreenGo Energy Group a/s
Christina Bregndahl Jørgensen
Head of Global Marketing & Communications
Tel: +45 31 40 81 65
E-mail: cbrj@greengoenergy.dk