Corporate News
 

ENCAVIS finances two solar parks in Denmark

Hamburg, October 20, 2022 –The Hamburg-based wind and solar park operator Encavis AG (Prime Standard; ISIN: DE0006095003, stock symbol: ECV), listed on the MDAX of Deutsche Börse AG completed another non-recourse project financing. The financing was arranged for the Danish solar parks Svinningegården in the north-western part of Zealand with a generation capacity of 34 MWp and Rødby Fjord on Lolland, in the south-western part of Zealand (generation capacity of 71 MWp).

Encavis AG acquired the two parks from European Energy at the end of 2021. They produce electricity through long-term power purchase agreements (PPAs) with well-known technology companies. Rødby Fjord also benefits from a feed-in tariff (FiT) fixed for 20 years by the Danish Ministry of Climate, Energy and Utilities.

The financing of around 32 million euros was provided by Rabobank, which is the first to conclude a joint transaction with Encavis AG in Denmark. The financing ends on June 30, 2040 and was structured and arranged internally by Encavis AG. The main component of the financing is a term facility fully secured by means of an interest rate swap and a cross-currency swap over the entire term of the loan.

"We are very pleased that we were able to achieve attractive conditions with Rabobank as part of this financing and that we now have additional financial resources available for further investments as part of our expansion goals", welcomed Dr. Christoph Husmann, CFO of Encavis AG, this financing.


About ENCAVIS:
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 solar parks and (onshore) wind farms in eleven 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 around 3.3 gigawatts (GW), which corresponds to a total saving of more than 1.4 million tonnes of CO₂ per year. 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 "A" and ISS ESG with their "Prime" label.

Additional information can be found on www.encavis.com

Contact:
ENCAVIS AG
Jörg Peters       
Head of Corporate Communications & IR
Tel.: + 49 40 37 85 62 242     
E-Mail: [email protected]