PRESS RELEASE : Blue Elephant Energy AG: Blue Elephant Energy and UKA enter into a 500 MWp solar development cooperation for projects in Germany

DGAP-News: Blue Elephant Energy AG / Key word(s): Agreement/Alliance 
Blue Elephant Energy AG: Blue Elephant Energy and UKA enter into a 500 MWp solar development cooperation for projects 
in Germany 
2021-04-15 / 08:00 
The issuer is solely responsible for the content of this announcement. 
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15.04.2021 
Blue Elephant Energy AG (BEE), a Hamburg-based independent operator of solar and wind power plants has, through its 
subsidiary, BEE Development GmbH, entered into a development framework agreement on solar portfolio with a capacity of 
500 MWp with the project developer and operator of renewable energy systems Umweltgerechte Kraftanlagen GmbH & Co.KG 
from Meissen (UKA). Completion of the first solar parks is expected for early 2023. 
The portfolio includes 11 solar projects in an advanced development stage with capacities between 20 MWp and 130 MWp 
individually. These solar projects are located at various locations in the German federal states of Brandenburg, 
Mecklenburg-Vorpommern, Sachsen und Sachsen-Anhalt. UKA will develop the projects until they reach ready-to-build 
status. After construction, the parks will remain part of BEE's renewable asset portfolio. The gross revenues are 
expected to be secured via long-term Power Purchase Agreements. 
The portfolio will contribute to a reduction of global CO[2] emissions by approximately 280,000 tons and will account 
for the annual electricity consumption of 200,000 households once in operation. 
"We are pleased to expand our long-standing business relationship with UKA from which we have already acquired various 
wind projects. Even more so, we are pleased to be able to expand this partnership in the solar sector as well. By 
securing this portfolio, BEE can significantly expand its German portfolio in a stable and currently very attractive 
market for PV electricity without bearing risks from project development" comments Tim Kallas, Chief Investment Officer 
of Blue Elephant Energy AG. 
"In order to successfully implement solar parks, you need partners with whom you can work together trustingly over the 
long term. Blue Elephant Energy AG has been such a partner for us for many years "emphasizes Gernot Gauglitz, Managing 
Partner of UKA. 
For formal reasons, the cooperation is subject to cartel approval and still requires approval by the Federal Cartel 
Office. 
About Blue Elephant Energy AG: 
Blue Elephant Energy AG (BEE) acquires and operates Solar Parks and Wind Farms in eight countries with a focus on 
Western-Europe. Founded in 2016, BEE is currently operating a renewable energy portfolio of 1,107 MW, from which a part 
is under construction. Until the end of 2020, BEE's renewable energy assets contribute to a sustainable energy supply 
by saving 956,419 tons of CO2 annually and providing 711,028 households with clean energy. As part of its ESG strategy 
BEE directly contributes to social projects on a local level, particularly in Chile and in the Dominican Republic. BEE 
has secured additional 1,091 MW Solar Park capacity in the context of co-development agreements with a limited range of 
developers, based on longstanding relationships and mutual appreciation. With equity provided by BEE's shareholders and 
participation rights capital provided by medium sized insurance companies, BEE has been able to invest well above EUR 
1.2 billion since inception. 
About Umweltgerechte Kraftanlagen GmbH & Co. KG: 
UKA plans, builds, supports and operates wind and solar farms as well as associated infrastructure. Founded in 1999, 
the company is one of the leading German wind farm developers with around 60 wind farms and solar farms* connected to 
the grid and an international project pipeline of four gigawatts. As a full-service provider, the group provides all 
services up to the turnkey handover of the facilities. Subsequently, the subsidiary UKB Umweltgerechte Kraftanlagen 
Betriebsführung GmbH will provide optimum technical and economic support for renewable energy generation plants for 
decades. The UKA Group currently employs around 700 people at its locations in Meissen, Cottbus, Rostock, Lohmen in 
Mecklenburg, Erfurt, Magdeburg, Oldenburg, Bielefeld, Grebenstein (near Kassel) and Hanover. Furthermore, UKA is 
currently expanding its business activities in other European markets. UKA Iberia S.L.U. has been operating from Madrid 
since 2019. In addition, UKA North America LLC from Stuart (Florida) is driving promising renewable energy projects in 
the USA. 
*partially realized by a partner of UKA, unlimited energy GmbH, in which UKA has a majority stake. 
Contact: 
Blue Elephant Energy AG 
Karen Westphal 
Jungfernstieg 51 
20354 Hamburg 
Fon: [phone] 
Fax: [phone] 
E-Mail: [e-mail] 
 
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2021-04-15 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      Blue Elephant Energy AG 
              Jungfernstieg 51 
              20354 Hamburg 
              Germany 
Internet:     www.blueelephantenergy.com 
EQS News ID:  1184930 
 
End of News   DGAP News Service 
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1184930 2021-04-15

(END) Dow Jones Newswires

April 15, 2021 02:01 ET (06:01 GMT)