11 November 2021
 

• Blue Elephant Energy AG (BEE) gets new investment partners. Entities from the insurance groups Barmenia and uniVersa will subscribe to EUR 50 million in participation rights capital as part of a new investment partnership, which will be invested in renewable energy generation plants.
• Together with BEE's equity contribution and project financing at the level of the parks, plants worth around EUR 300 million can be purchased within the framework of this cooperation. 
• Including the first investment partnership with Gothaer insurance, which has already been fully invested, BEE now has three renowned insurance groups as investors.

The Hamburg-based solar and wind farm operator Blue Elephant Energy (www.blueelephantenergy.com) has two further investment partners in Barmenia and uniVersa. The two insurance groups will provide participation right capital of EUR 50 million to a subsidiary of BEE for a period of 20 years. Together with the equity capital that BEE will contribute and the project financing at the park level, renewable energy plants worth around EUR 300 million can be purchased from this investment partnership.

Dr. Gerd Weidenfeld, CFO of Blue Elephant Energy AG comments: "Barmenia and uniVersa are
perfect partners for us. Their interest in long-term ESG investments fits perfectly with our
renewable energy investments. Our pipeline of attractive projects is well filled, so we can 
invest the funds from this partnership very quickly."

Dr. Anton Buchhart, Head of the Investment Department at Barmenia, comments: "Blue Elephant Energy AG is very well positioned in the future market of solar and wind energy generation and has excellent access to attractive projects. We are thus continuing on our
sustainable path in Barmenia's capital investment. " Frank Sievert, Member of the Board of
uniVersa, added: "Investments that have a positive impact on the environment are becoming
increasingly important for the insurance industry and we are therefore very pleased to be able
to further expand our portfolio in this area together with BEE. "

Including Gothaer insurance, with which an investment partnership has been in place since 2016, BEE has now been able to win three renowned insurance groups for investment cooperations.

About Blue Elephant Energy AG
Blue Elephant Energy AG (BEE) acquires and operates solar and wind parks in eight countries
with a focus on Western Europe. Founded in 2016, BEE currently operates a renewable energy
portfolio of 1,108 MW, part of which is under construction. By the end of 2020, BEE's renewable energy assets have contributed to sustainable energy supply by saving 956,419 tonnes of CO2 and providing clean energy to 711,028 households. As part of its ESG strategy, BEE contributes directly to social projects at the local level, particularly in Chile and the Dominican Republic. BEE has secured an additional 1,391 MW of solar farm capacity under co-development agreements with a number of developers based on long-standing relationships and mutual respect. With equity provided by BEE shareholders, participation capital provided by insurance companies and project financing, BEE has been able to build a total balance sheet
of over EUR 1.3 billion since its inception.


Contact for Press & Investor Relations:
Blue Elephant Energy AG
Karen Westphal
Jungfernstieg 51
20354 Hamburg
Fon: +49 40 320 27 21 0
Email: ir@blueelephantenergy.com