ABO WIND AG (FRA:DE000576) ABO Wind AG: Further tariffs secured in innovation tender

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26/08/2021 15:25

DGAP-News: ABO Wind AG / Key word(s): Market Report
ABO Wind AG: Further tariffs secured in innovation tender

26.08.2021 / 15:25
The issuer is solely responsible for the content of this announcement.

ABO Wind secures further tariffs in innovation tender

- Tariffs for two solar/storage combinations

- Construction work for first hybrid project about to start

- Further battery storage systems in development in several countries

ABO Wind was successful for the third time in the third innovation tender of the German Federal Network Agency: Two further hybrid projects combining photovoltaics and battery storage were awarded a tariff. Together, the two projects in Weichenried (Bavaria) and Weilerswist (North Rhine-Westphalia) have a capacity of 9.7 megawatts peak and are scheduled to be connected to the grid by summer 2023 at the latest.

ABO Wind has won tariffs for four hybrid projects with a capacity of more than 18 megawatts in the first two innovation tenders in September 2020 and April 2021. The project in Wahlheim, Rhineland-Palatinate, is the most advanced. Here, construction work is expected to begin as early as October. "Storage systems play a crucial role in further increasing the share of electricity generated from renewable energy sources in Germany," says Dr Thomas Treiling, Head of Project Development in Germany. "And we are proud to be one of the pioneers in this innovative sector."

In the German innovation tenders, market premiums are awarded for combinations of solar or wind farms and storage. The different plants must be connected to the same grid connection point. In contrast to the other tenders, a fixed market premium is paid. This means that a fixed state renumeration flows in addition to the income from electricity marketing.

Electricity storage is a growing business area for ABO Wind and is coordinated in the department Hybrid Energy and Battery Storage Systems, managed by Dr Julia Badeda. In addition to the solar-storage combinations that were successful in the tender, ABO Wind is planning further hybrid projects, primarily in Greece and Spain. In Kells, Northern Ireland, the company is also building a battery storage facility with a capacity of 50 megawatts to stabilise the grid. It will be one of the world's fastest storage systems to react to fluctuations in generation and consumption in the island system.

Alexander Koffka
Phone: +49 (0)611 267 65-515
Fax: +49 611 267 65-599
E-Mail: alexander.koffka@abo-wind.de

26.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English
Company: ABO Wind AG
Unter den Eichen 7
65195 Wiesbaden
Phone: +49 (0)611 26 765 0
Fax: +49 (0)611 26 765 5199
E-mail: global@abo-wind.de
Internet: www.abo-wind.de
ISIN: DE0005760029
WKN: 576002
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange
EQS News ID: 1229221

End of News DGAP News Service

1229221  26.08.2021