ENCAVIS and Innovar Solar sign framework agreement for solar projects with a total volume of 160 megawatts
EQS-News: ENCAVIS AG / Key word(s): Expansion/Alliance
ENCAVIS and Innovar Solar sign framework agreement for solar projects with a total volume of 160 megawatts
31.08.2023 / 07:01 CET/CEST
The issuer is solely responsible for the content of this announcement.Corporate News
*ENCAVIS and Innovar Solar sign framework agreement for solar projects with a total volume of 160 megawatts**Hamburg, 31 August 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) expands its portfolio of Strategic Development Partnerships (SDPs) by teaming up with Innovar Solar GmbH from Meppen. The framework agreement for an exclusive solar power pipeline comprises a total of nine project sites in Germany with a volume of 160 megawatts (MW) of generation capacity.
Eight projects are located close to motorways and railways or in other areas privileged by construction law for use for open-plan PV systems. The sites are subject to the Renewable Energy Act (EEG) and can partly be approved and implemented in a timely manner. All projects still benefit from the Feed-in Tariffs (FIT) of the EEG with a term of 20 years. One of the nine projects sells the electricity through a long-term pay-as-produced Power Purchase Agreement (PPA).
Mario Schirru, CIO/COO of Encavis AG, welcomes the signing of the framework agreement and says: “The number of interesting projects in the market is increasing significantly again. We are very pleased about this, as we are making further progress on the path of accelerated growth and massive expansion of our capacities to a total of 8 gigawatts by 2027. Thanks to the cooperation with Innovar Solar, we are now able to significantly strengthen our project pipeline of Strategic Development Partnerships in one of our focus markets”.
*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 CO[2] 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 specialised 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
* *
*Contact:*
*Encavis AG*
Jörg Peters
Head of Corporate Communications & Investor Relations
Tel.: + 49 40 37 85 62 242
E-Mail: joerg.peters@encavis.com
http://www.encavis.com
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31.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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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: 1715405
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