DGAP-News: Blue Elephant Energy AG / Key word(s): Contract/Alliance
Blue Elephant Energy AG: Blue Elephant Energy locks in land deal over 300 hectares for the operation of ground-mounted
PV capacity of over 300 MWp in Germany
2021-06-15 / 08:00
The issuer is solely responsible for the content of this announcement.
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15.06.2021
Blue Elephant Energy AG (BEE), a Hamburg-based independent operator of solar and wind power plants has entered into a
cooperation agreement on potential solar sites with a combined capacity of 300 ha with a long-time partner. Completion
of the first solar parks is expected for early 2023.
About 12 solar projects with capacities between 10 MWp and 50 MWp individually will be implemented - in total more than
300 MWp. BEE will focus on the realization of the projects, on structuring project financing and on negotiating the
Power Purchase Agreements ("PPAs"). After construction, BEE will remain as the majority shareholder of the solar asset
portfolio. The main gross revenues are expected to be secured via long-term Power Purchase Agreements, while some
individual areas may be remunerated under the Renewable Energy Act (EEG).
The portfolio will contribute to a reduction of global CO2 emissions by approximately 170,000 tons and will account for
the annual electricity consumption of 120,000 households once in operation.
"With this partnership, BEE can significantly expand its German portfolio in a stable and currently very attractive
market for PV electricity. The energy transition requires much larger volumes of power from renewable sources. We are
excited to contribute to this mission with this new cooperation." comments Tim Kallas, Chief Investment Officer of Blue
Elephant Energy AG.
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 1,391 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.
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2021-06-15 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: 1207876
End of News DGAP News Service
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Image link:
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1207876&application_name=news(END) Dow Jones Newswires
June 15, 2021 02:01 ET (06:01 GMT)
