Encavis Asset Management AG connects two additional solar parks to the German power grid

Corporate News

Encavis Asset Management AG connects two additional solar parks to the German power grid
 

Neubiberg/Munich, 14 June 2023. Encavis Asset Management AG (Encavis AM), a subsidiary of the MDAX-listed wind farm and solar park operator Encavis AG, connects the solar parks "Saturn" and "Dagon" with a total generation capacity of 45 megawatts (MW) to the power grid in Germany.

The “Saturn” solar park, with a total capacity of over 22 MW, was built around an existing wind power plant. The “Dagon” solar park comprises a nominal capacity of approx. 23 MW and was erected at 9 individual sites along the Federal Highway 60. The two ground-mounted photovoltaic plants produce green electricity for among 17,000 households and jointly save about 17,000 tonnes of harmful CO₂ annually.

The acquisitions contribute to the Encavis Infrastructure Fund II (EIF II), an Alternative Investment Fund for credit institutions - primarily savings banks and cooperative banks. The fund is administered by HANSAINVEST Lux S.A. and distributed exclusively by BayernLB.

"The integration of PV plants into existing wind farms is very efficient, as the available infrastructure is used and thus material and costs are saved", comments Karsten Mieth, Spokesman of the Management Board of Encavis Asset Management AG.

Encavis Asset Management AG is responsible for the structuring of the projects and takes care of the commercial management, energy management, accounting as well as the controlling of both solar parks.

Encavis Asset Management AG

Encavis Asset Management AG offers institutional investors tailor-made portfolios and fund solutions for investments in the growth market of Renewable Energies. The Company has been successfully investing in this sector since 2006, covering the entire value chain from asset sourcing to the operational management of investments.

Encavis Asset Management AG is a wholly owned subsidiary of MDAX-listed Encavis AG (ISIN: DE0006095003, Prime Standard, Ticker symbol: ECV) and, as part of the Encavis Group, benefits from their many years of experience and broad industry network. Encavis AG is one of the leading independent power producers (IPPs) in the field of Renewable Energies in Europe. The Encavis Group's installed generation capacity currently adds up to around 3.5 gigawatts (GW), of which more than 2.1 GW is provided by Encavis AG. This corresponds to a saving of around 0.8 million tonnes of CO₂ per year.

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 "A" and ISS ESG with their "Prime" label.

Please visit our website www.encavis-am.com for additional information.

Contact:  

Encavis AG      
Tanja Van den Wouwer      
Head of Sustainability & Communications
Phone +49 89 442 30 60 25         
tanja.van_den_wouwer@encavis.com