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ENCAVIS AG
M&A Activity • Aug 30, 2023
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Corporate | 30 August 2023 07:03
ENCAVIS AG acquires its first battery project to optimise the marketing of electricity from German wind and solar parks
EQS-News: ENCAVIS AG / Key word(s): Expansion/Acquisition
ENCAVIS AG acquires its first battery project to optimise the marketing of electricity from German wind and solar parks
30.08.2023 / 07:03 CET/CEST
The issuer is solely responsible for the content of this announcement.
Corporate News
ENCAVIS acquires its first battery project to optimise the marketing of electricity from German wind and solar parks
Hamburg, 30 August 2023 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) acquires a ready-to-build (RTB) battery project (12 megawatts respectively 24 megawatt hours). The Battery Energy Storage System (BESS) in Hettstedt (Saxony-Anhalt) is based on lithium-ion technology and is scheduled to be connected to the grid in the first half of 2024.
The BESS is charged in the hours of the day of lower electricity prices and discharged in the high-price hours by participating in the day-ahead and intra-day market. This mechanism optimises the capture rate of the existing wind and solar park portfolio. In addition, this approach smoothes the generation fluctuations typical of Renewable Energies and reduces the associated balancing energy costs. Regardless of location, the battery can store amounts of electricity from all Encavis Group parks in Germany and discharge them at another time. The elimination of network charges for charging the battery in Germany makes this economically attractive.
“ The new plant in Hettstedt will allow us to use our Renewable Energy generation much more flexibly. This will enable us to serve a part of our portfolio in Germany with innovative battery technology and thus generate additional revenue ”, welcomes Mario Schirru, CIO/COO of Encavis AG, this innovative milestone achievement.
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
Contact:
ENCAVIS AG
Jörg Peters
Head of Corporate Communications & Investor Relations
Tel.: + 49 40 37 85 62 242
E-Mail: [email protected]
http://www.encavis.com
30.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | ENCAVIS AG |
| Große Elbstraße 59 | |
| 22767 Hamburg | |
| Germany | |
| Phone: | +49 4037 85 62 -0 |
| Fax: | +49 4037 85 62 -129 |
| E-mail: | [email protected] |
| Internet: | https://www.encavis.com |
| ISIN: | DE0006095003 |
| WKN: | 609500 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1714335 |
| End of News | EQS News Service |