ENERGIEKONTOR AG (FRA:EKT) Energiekontor AG: EnBW and Energiekontor sign first long-term Power Purchase Agreement for subsidy-free solar park

Transparency directive : regulatory news

14/02/2019 13:00

DGAP-News: Energiekontor AG / Key word(s): Contract
Energiekontor AG: EnBW and Energiekontor sign first long-term Power Purchase Agreement for subsidy-free solar park

14.02.2019 / 13:00
The issuer is solely responsible for the content of this announcement.


- 15-year contract delivers planning certainty
- Energiekontor: Key milestone for the realization of the 85-megawatt solar park Marlow/Dettmannsdorf

 

Bremen/Karlsruhe.  EnBW Energie Baden-Württemberg AG and Energiekontor AG have signed a long-term power purchase agreement (PPA) for a solar park planned by Energiekontor. The planned solar park east of Rostock is to be built and operated by Energiekontor and will have an installed capacity of some 85 megawatts for an output of around 88 gigawatt-hours of electricity per year. That is enough to supply some 25,000 households with electricity all year round.

The PPA between EnBW and Energiekontor is the first of its kind in Germany. It enables Energiekontor to build and operate the PV system without subsidies under the German Renewable Energy Sources Act. The agreement stipulates that EnBW will purchase 100 percent of the electricity at a fixed price. Within the agreed contract period of 15 years, the two companies assume that the total amount of electricity produced will be around 1.3 terawatt hours.

"Marketing renewable-generated electricity is core business for EnBW with its outstanding energy trading expertise and large customer base. Part of our trading strategy consists of continually adding to our product range and extending the time horizon on transactions. This also includes entering into long-term power agreements in Germany and other European markets. So we are very pleased, together with our partner Energiekontor, to play a pioneering role in the marketing of electricity from large solar installations in Germany. The market for PPAs has already seen strong growth internationally in recent years. Our collaboration with Energiekontor is a key step in the implementation of solar power projects without state subsidies, including in Germany," said Peter Heydecker, head of the Trading segment at EnBW.

"We are pursuing the vision that one day the entire energy demand will be covered 100 percent by renewable energy. As pioneers in our industry, we aim to be among the first to build wind farms and solar parks with lower generating costs than the conventional energy sector. In addition to the still valid argument of much higher environmental compatibility, the superior economic efficiency now also speaks in favour of renewable energies. Now that Energiekontor has already set up the first subsidy-free wind farm in England, we will also be a pioneer in Germany and will realise the first large solar park outside the Renewable Energy Sources Act regime. With the PPA signed, we now have a sound basis to press ahead with developing the Marlow/Dettmannsdorf solar park project," said Peter Szabo, CEO of Energiekontor AG.

Energiekontor will implement the project on 120 hectares of agricultural land in the city of Marlow and the municipality of Dettmannsdorf. The commissioning of the solar park is scheduled for the end of 2020.

About Energiekontor AG:

For nearly 30 years, Energiekontor has stood for a sound approach to business and a wealth of experience in wind power. Formed in Bremerhaven in 1990, the company was one of the pioneers in the industry and is now one of the leading German project developers. Its core business covers planning, construction and operational management of wind farms in Germany and abroad, and was expanded to include solar power in 2010. Energiekontor also currently owns and operates wind farms and a solar park with a total rated power of around 280 megawatts. Energiekontor AG intends to be a pioneer when it comes to economic viability in realising the first wind farms and solar parks at market prices without state subsidies in all target markets as quickly as possible.

In addition to its headquarters in Bremen, Energiekontor also maintains offices in Bremerhaven, Hagen im Bremischen, Aachen, Dortmund, Bernau (near Berlin) and Potsdam. The company also has branch offices in England (Leeds), Scotland (Glasgow), Portugal (Lisbon), the Netherlands (Nijmegen), the US (Austin/Texas and Rapid City/South Dakota) and France (Toulouse, Rouen).

The track record speaks for itself: 121 wind farms and three solar parks completed with a total rated power of just under 1 gigawatt. This corresponds to an investment volume of more than EUR 1.6 billion.

Energiekontor went public on May 25, 2000. The shares of Energiekontor AG (WKN 531350/ISIN DE0005313506) are listed in the General Standard segment of the Frankfurt Stock Exchange and can be traded on all German stock exchanges.

Contakt:

Investor Relations / Press
Peter Alex
Tel.: +49 421 3304-126
E-Mail: ir@energiekontor.de


About EnBW

EnBW Energie Baden-Württemberg AG is one of the largest energy supply companies in Germany and Europe, and supplies electricity, gas, water and energy-related products and services to around 5.5 million customers with a workforce of 21,000 employees. We will continue to expand our position as a sustainable and innovative infrastructure partner to customers, consumers and local authorities.

EnBW Trading assists EnBW Trading customers as an equal partner with the integration of their power generating assets into the market and in this way supports the market integration of renewable energies with its services and expertise. Trading also manages the procurement of fuels and carbon credits, is responsible for optimum power generation capacity deployment, sells electricity generated by EnBW power plants and purchases electricity for resale.

Contakt:

EnBW Energie Baden-Württemberg AG
Corporate Communications
Friederike Eggstein
Tel.: +49 721 63-12320
E-Mail: f.eggstein@enbw.com



14.02.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Energiekontor AG
Mary-Somerville-Straße 5
28359 Bremen
Germany
Phone: 04 21/33 04-126
Fax: 04 21/33 04-4 44
E-mail: ir@energiekontor.de
Internet: www.energiekontor.de
ISIN: DE0005313506
WKN: 531350
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

 
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776007  14.02.2019 

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