Magnora ASA

Capital/Financing Update • Apr 11, 2025

Magnora Germany adds 150 MW of BESS with high grid-potential

Magnora Germany adds 150 MW of BESS with high grid-potential

11.4.2025 13:50:23 CEST | Magnora ASA | Non-regulatory press releases

In April, Magnora Germany secured exclusive rights to develop a 150 BESS project

(2 hrs duration) on industrial, municipality-owned land in Germany. Being close

to a substation singled out for near-future upgrades, the site has high

potential for grid connection in the short to-mid terms.

The German BESS market has attracted great interest. Few projects have been on

the market in recent years, and the combination of falling capex, accelerated

public infrastructure investments, and supply instabilities serve to shape the

market. This spring, the new government announced EUR 100 billion in green

energy initiatives as part of a stimulus package.

For some time, a series of large investors and existing customers have taken an

interest in Magnora's German operation. The German team is assessing 50 plus

potential projects selected due to their high grid potential. Magnora Germany is

careful not to engage in projects lest there is a realistic chance of near-term

grid and supportive local communities.

"The interest in German BESS exceeds most opportunities Magnora has faced so

far," says Erik Sneve, CEO of Magnora. "We are grateful and fortunate to have a

local, experienced and fast-moving team with grid specialists and people from

the BESS industry. This may add to the five BESS projects Magnora has sold to

date. While success in Germany is not assured, the point of departure looks

excellent for building another great platform."

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) is a renewable-energy group developing wind, solar and

battery storage projects. Magnora has operations in Europe and Africa through

the portfolio companies Hafslund Magnora Sol AS, Magnora Offshore Wind AS,

Magnora Germany, Magnora Italy Srl, Magnora Solar PV UK, Magnora South Africa,

and AGV. Magnora also has earn-out revenues related to the former portfolio

companies Helios Nordic Energy and Evolar, and a financial ownership in Hermana

Holding. Magnora is listed on the main list of the Oslo Stock Exchange under the

ticker MGN.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847805/18495243/5935/Download%20announce

ment%20as%20PDF.pdf