ABO Wind sells solar projects in Argentina

- Two fully developed solar projects with a capacity of 10 megawatts each sold

- Analysts raise target price for ABO Wind share significantly to 54 euros

ABO Wind has succeeded in selling two solar projects that had already secured a tariff in the last RenovAR 3 tender in Argentina. The projects Del Amanecer and Los Álamos are both located in the Province of Catamarca in the Northwest of Argentina. The projects have a capacity of about 10 megawatts each.

"Starting with the site acquisition, we have been working on these projects for about two years. The projects have received all necessary permits and licenses and are ready for construction," says Lucila Bustos, General Manager of the Argentine subsidiary of ABO Wind. The investor is a European company specialising in renewable energies and plans to start construction next year. ABO Wind will also provide construction supervision for both solar farms.

ABO Wind has been present in Argentina with an office in Buenos Aires since 2006. In recent years ABO Wind has sold several Argentine wind and solar projects during development. The company's long-term strategy is to also construct and commission new projects as general contractor and to cover the entire value-chain of project development and implementation.

To date, ABO Wind has installed renewable energy plants with a total capacity of around 1,600 megawatts worldwide. A recent capital increase just raised the company's equity to 140 million Euros, thus increasing the company's capability to pre-finance the construction of even large wind and solar farms.

Although the current economic crisis in Argentina was magnified by the Corona pandemic, ABO Wind will continue developing projects in this country that offers some of the best wind and solar conditions on the planet.

The latest sales success in Argentina is part of an overall positive business development for ABO Wind in 2020. The equity analysts at Bankhaus Metzler and First Berlin therefore recently significantly raised their price targets for the ABO Wind share (https://www.abo-wind.com/en/share/analyst-ratings.html). Both analysts now see the share as fairly valued at 54 euros. The analysts' previous price targets were 40 euros and 30.5 euros respectively, which have already been reached or exceeded thanks to the good share price performance in recent months.