Corporate News

ENCAVIS and badenova together with other partners want to create 500 megawatts of electricity generation capacity from Renewable Energies and invest around 200 million euros by 2027

 
Hamburg/Freiburg, 27 July 2023 – The MDAX-listed wind farm and solar park operator Encavis AG (Prime Standard, ISIN: DE0006095003, ticker symbol: ECV) and the Freiburg-based energy supply company badenova AG & Co. KG plan to jointly promote the expansion of Renewable Energies in Germany. For this purpose, Encavis Energieversorger I GmbH (EEV) will be founded in Hamburg, in which Encavis AG will hold 51% and Kommunale Energiewende GmbH & Co. KG (KEW) will hold 49%.

The newly to be founded company EEV wants to focus on the purchase and operation of wind and photovoltaic systems in Germany in the field of renewable electricity generation. At the same time, related technologies, such as battery storage and the marketing of electricity generated from Renewable Energies, are also to be part of the common approach. Through shares in the holding company KEW, which will be founded by badenova at the start, this cooperation solution is also open to other partners who can participate in long-term investments in wind and PV.

“The cooperation solution developed with badenova shows that we are on the right track with our Accelerated Growth Strategy 2027, and that we are taking giant steps towards our expansion targets in the field of wind and solar parks by 2027. With this new cooperation model, we have already created the basis for advancing 200 million euros in investments through minority participations of the equity partners after only several months. This is clear evidence of the huge demand for our new solutions to supply the market with Renewable Energy,” welcomes Dr Christoph Husmann, Spokesman of the Management Board and CFO of Encavis AG, the cooperation with badenova.

“We as badenova want to have built one gigawatt of installed capacity with renewable energies by 2035. This will be done primarily through the projects we have developed in our region, but to a certain extent also through nationwide participations. The cooperation solution developed here offers the opportunity, together with Encavis and other partners, to grow also nationwide through wind and PV projects in the future,” said badenova CEO Heinz-Werner Hölscher, commenting on the cooperation. He adds: “We have already had very good experiences and successful projects with Encavis in the past and are looking forward to working with them and other partners on further projects.” The contribution of badenova to the supra-regional expansion of the Encavis cooperation is examined project by project and will thus develop over time. In addition, the cooperation is to be further expanded by including other partners, such as regional energy suppliers, municipal utilities and municipalities in the KEW.

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 more than 3.5 gigawatts (GW), of which more than 2.1 GW belongs 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.

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 “A” level and ISS ESG with their “Prime” label.

Additional information can be found on www.encavis.com

About badenova:
badenova AG is the largest energy supply company in Südbaden with its headquarters in Freiburg im Breisgau. As a municipal company, badenova stands for the consistent implementation of the energy and heat transition in the region and beyond, among other things through concrete transformation goals. The energy supplier for example plans to install a total of one gigawatts of green electricity from renewable energies by 2035. In order to achieve this goal, badenova intends to expand by 600 MW (half wind and PV) in the region and to realise the remaining 400 MW through nationwide investments.

Their variety of innovative, modern and individual product and service packages also make a major contribution to climate protection and thus ensure a future worth living in.

Further information about the company can be found at www.badenova.de

Contacts:

Encavis AG       
Jörg Peters       
Head of Corporate Communications & Investor Relations
Tel.: + 49 40 37 85 62 242     
E-Mail: joerg.peters@encavis.com

badenova
Manuel Zimmermann
Head of Corporate Communications
Tel.: +49 761 279 30 44
E-Mail: manuel.zimmermann@badenova.de