Corporate News
 

ENCAVIS launches further Strategic Development Partnership with GreenGo Energy in Germany, increasing its European solar project pipeline to 3.2 gigawatts

Hamburg, 11 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) expands its involvement in the successful Strategic Development Partnership with GreenGo Energy. The framework agreement provides for a continuous pipeline of 500 megawatts (MW) solar park projects in Germany, in addition to the existing 600 MW continuous pipeline in Denmark.

“Together with GreenGo Energy, we have been able to realise more than 280 MW of solar generation capacity in Denmark in around two and a half years, some of which have already been connected to the grid. We now want to continue this track record of success together with our partner’s rapidly growing location in Germany,” Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO) of Encavis AG, underlines the signed agreement.

The solar project pipeline from Encavis’ now 13 Strategic Development Partnerships in Europe will thus increase from 2.7 GW to 3.2 gigawatts.

“This new framework agreement with our strategic partner, Encavis AG, securing an additional 500 MW of solar projects in Germany, stands as a cornerstone of our ambitions in the European market. It represents the logical next step for us to expand our proven and highly successful Partnership model with Encavis into Germany where we are rapidly expanding our footprint and project pipeline. This agreement will take our joint project portfolio to the next level at a total of 1.1 GW", says Stefan Degener, Managing Director of GreenGo Energy in Germany.

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. In addition, the Group currently has around 1 GW of capacity under construction, of which more than 600 MW are own assets.

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 project origination, investment structuring, development, offtake, EPC management and asset management services, fully tailored and bespoke to our client’s needs and their investment profile.

GreenGo Energy has 27 GW of solar, wind, BESS and Megaton P2X projects in various stages of development and construction in nine U. S. states, Europe and MENA, of which more than 5 GW have been contracted through partnership framework agreements with Tier-1 investors in the renewable space.

GreenGo Energy is headquartered in Denmark, with over 110 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