ENCAVIS AG acquires a second subsidy-free 14 MW solar park in Sweden

Corporate News

ENCAVIS acquires a second subsidy-free 14 MW solar park in Sweden

Hamburg/Lillestrøm, 24 November 2022 – Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003, stock exchange symbol: ECV), acquires a second solar park in Sweden as part of its partnership with the Norwegian solar park developer Solgrid AS. The park is located in Västervik on the east coast of Sweden, will have a generation capacity of around 14 MW and is planned to be connected to the grid in Q3 2023. The first joint solar park project in Sweden was realised in Varberg on the Swedish west coast in April 2022 with a generation capacity of 5 MW. Encavis and Solgrid aim to jointly develop further solar parks in Southern Sweden with a total generation capacity of more than 100 MW. The plan is to bundle several projects to sign a long-term PPA. In the meantime, Encavis will sell short- and mid-term hedged electricity contracts.

“At Encavis we are excited about the second successful project of our partnership with Solgrid in Sweden. It does not only bring us closer to our capacity expansion in line with our growth strategy ‘>> Fast Forward 2025’, it also strengthens our presence in Scandinavia, which is one of the most interesting new solar energy markets in Europe”, welcomes Mario Schirru, Chief Investment Officer/Chief Operations Officer (CIO/COO) of Encavis AG, the new acquisition.

“We are very pleased to strengthen our partnership with Encavis even further. The solar plant in Västervik will, as the solar plant Varberg Norra, be owned by the joint company EnSol Nordic. We are looking forward to realising more projects together with Encavis in Sweden in the years to come” says Kristin Melsnes, CEO of Solgrid AS.
 

Contact:
ENCAVIS AG                                                                                         
Jörg Peters                                                                                           
Head of Corporate Communications & IR
Tel.: + 49 40 37 85 62 242                                                    
E-Mail: joerg.peters@encavis.com

Contact:
SOLGRID AS
Kristin Melsnes
CEO
Tel.: +47 952 95 342
E-Mail: kristin@solgrid.no

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