ENCAVIS : grows their wind segment in Northern Europe
05/12/2021 | 05:00am EDT
DGAP-News: ENCAVIS AG
/ Key word(s): Acquisition/Investment
ENCAVIS AG grows their wind segment in Northern Europe
12.05.2021 / 10:58
The issuer is solely responsible for the content of this announcement.
Encavis AG grows their wind segment in Northern Europe
Hamburg, May 12, 2021 - The MDAX-listed wind and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) confirms its growth path also in 2021. The acquisition of the wind farm Paltusmäki, already connected to the grid, enlarges Encavis' own generation capacities in the wind segment by 21.5 megawatts (MW). In parallel it adds with Finland also another interesting growth market for bilateral energy contracts to the already broadly diversified portfolio of countries.
The Paltusmäki wind farm composed of five wind turbines is located near the coast of the Baltic Sea in the Northern Finnish region of North Ostrobothnia. Four of the five wind turbines have already been connected to the grid in December 2020 and the fifth turbine followed in February of this year. The five identical Enercon wind turbines with a hub height of 132 metres are Lagerwey L 147 turbines. Due to state-of-the-art permanent magnet technology these wind turbines no longer rely on a gearbox, reducing their susceptibility to faults to a minimum. This turbine platform was named "turbine of the year 2020" by the trade journal "Windpower Monthly". Encavis calculates that the Paltusmäki wind farm will produce 12.24 GWh of electricity per turbine per year which results in an expected annual output of around 61 GWh of green electricity.
"The purchase of this state-of-the-art wind farm underlines our growth ambitions in the wind segment in Northern Europe and from the point of risk structure complements very well our strong solar portfolio," welcomed Dr Dierk Paskert, CEO of Encavis AG, the acquisition. "To realise our growth targets, we have a project pipeline at our disposal with a total generation capacity of more than 3 gigawatts (GW) that we have secured with the help of our strategic development partners (SDP). These parks will be developed by our SDPs on-schedule and we expect some of them ready-to-build until year-end", explained Dr Paskert further growth perspectives of the Group.
Encavis AG (Prime Standard; ISIN: DE0006095003 / WKN: 609500) is a producer of electricity from renewable energies listed on the SDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates solar parks and (onshore) wind farms in ten 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 is currently around 2.8 gigawatts (GW), corresponding to a CO2 avoidance of 1.26 million tonnes p.a. in total. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.
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 "AA" and ISS ESG with their "Prime" label.