ENCAVIS AG finances two solar parks in Denmark

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ENCAVIS finances two solar parks in Denmark

Hamburg, October 20, 2022 –Hamburg-based wind and solar farm operator Encavis AG (Prime Standard; ISIN: DE0006095003, ticker symbol: ECV), listed on Deutsche Börse AG’s MDAX, has completed another non-recourse project financing. The financing was arranged for the Danish solar parks Svinningegården in the northwestern part of Zeeland with a production capacity of 34 MWp and Rødby Fjord on Lolland in the southwestern part of Zeeland (production 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) set for 20 years by the Danish Ministry of Climate, Energy and Utilities.

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

“We are very pleased to have been able to obtain attractive terms with Rabobank in connection with this financing and to now have additional financial resources available for new investments within the framework of our expansion objectives.“, rejoiced Dr. Christoph Husmann, financial director of Encavis AG, of this financing.

About ENCAVIS:
Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is an MDAX-listed renewable electricity producer of Deutsche Börse AG. As one of the leading Independent Power Producers (IPPs), ENCAVIS acquires and operates solar parks and (onshore) wind farms in eleven European countries. Sustainable power generation plants generate stable returns through feed-in tariffs (FIT) or long-term power purchase agreements (PPAs). The total production capacity of the Encavis Group currently amounts to approximately 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 the UN PRI network. Encavis AG’s environmental, social and governance performance has been recognized by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the company’s ESG performance with “A” and ISS ESG with its “Prime” label.

Additional information can be found at www.encavis.com

Contact:
ENCAVIS AG
Jörg Peters
Corporate Communication & IR Manager
Such. : + 49 40 37 85 62 242
E-mail: joerg.peters@encavis.com

http://www.encavis.com

Twitter: https://twitter.com/encavis