ENCAVIS remains on its growth trajectory in Germany, significantly enhancing its energy production capacity with the construction of its 114-megawatt solar park in Borrentin

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ENCAVIS remains on its growth trajectory in Germany, significantly enhancing its energy production capacity with the construction of its 114-megawatt solar park in Borrentin

Hamburg, 20March 2024 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is collaborating with BELECTRIC to build a large-scale and high-performance solar farm in Borrentin (Mecklenburg-Western Pomerania), with a capacity of 114 MW and an annual power generation of 119 GWh. BELECTRIC is one of the leading EPC service providers in the design, construction and operation of solar power plants in Europe and will also take over the Operation and Maintenance (O&M) together with Stern Energy.

“Together with BELECTRIC, we are building Encavis AG’s largest solar park in Germany to date in Borrentin. After completion, our connected generation capacity in our home market will increase to a total of 677 MW. We appreciate the excellent cooperation with BELECTRIC, which brings us a significant step forward on the way to reaching the 7 GW generation capacity ambition in Europe by 2027,” commented Mario Schirru, CIO/COO of Encavis, on the start of construction.

The start of this major project was yesterday's groundbreaking ceremony, which was attended by ENCAVIS, BELECTRIC and other project partners as well as Peter Rabe, the Mayor of Borrentin, and representatives of the community and the press.

“We are proud that ENCAVIS AG has now chosen us as a partner for the construction of this exciting large-scale project after several years of good cooperation. Thus, we are once again underlining our strong presence in our home market of Germany,” explains Thorsten Blanke, Managing Director of BELECTRIC.

On an area of 135 football fields approximately 200,000 modules will be installed, which are expected to supply green electricity for Allego, a leading Europe-wide charging network for electric vehicles, starting in September 2024. The supply of electricity to Allego is based on a 10-year Power Purchase Agreement (PPA).

The major project stems from the development pipeline with the strategic development partner PV PEG.

The Borrentin solar park will be built on an area with an average soil rating value of 27.26 and thus on a land plot which has a comparatively low agricultural yield and is therefore not in competition with agricultural use. It is only from values above 40 that one speaks of good arable soil, from values above 60 of very good quality.

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 around 3.6 gigawatts (GW), of which around 2.2 GW belong 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 1.2 GW of capacity under construction, of which around 830 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 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 “AA” level and ISS ESG with their “Prime” label (A-).

Additional information can be found at www.encavis.com  

About BELECTRIC:

BELECTRIC is one of Europe's leading EPC service providers in the development, construction and operation of solar power plants. The solar energy specialist looks back on more than 20 years of experience in power plant construction and has built almost 5 gigawatts of capacity worldwide. BELECTRIC is a member of Elevion Group. Elevion Group is a leading European provider of end-to-end decarbonization and higher energy efficiency solutions. Thanks to its unique structure and its pioneering spirit, its capabilities can be easily scaled across the project scope, for various project sizes and a range of required expertise. Elevion Group operates on 12+ European markets (including The Netherlands, Germany, Austria, Italy, Poland, Romania and Hungary) through 60+ highly specialized independent companies, but with the financial strength of an international group.

Additional information can be found at www.belectric.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

BELECTRIC GmbH
Luisa Müller
Marketing & Communications
Wadenbrunner Str. 10
97509 Kolitzheim
Germany
E-Mail: pr@belectric.com