ENCAVIS AG Acquires Wind Farm (17 megawatts) in Sommerland in Schleswig-Holstein from BayWa r.e.

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 17-megawatt (MW) wind farm in Sommerland (Schleswig-Holstein) from BayWa r.e. AG, a leading global renewable developer, service supplier, distributor and solutions provider. Commissioning will take place during the coming weeks, with the economic transition to Encavis scheduled for 1 January 2024. The wind farm is expected to generate an average of around 53 gigawatt hours (GWh) of electricity per year and will generate revenue and earnings for Encavis from next year.

“This wind farm will increase our total wind power generation capacity in Germany to 257 megawatts,” says Mario Schirru, CIO/COO of Encavis AG, welcoming the acquisition in Sommerland in Northern Germany. He adds: "Our own portfolio of wind and solar parks in Germany is growing to 665 MW – thus further expanding Germany as our largest market."

The project will receive a feed-in tariff (FiT) for 20 years and a 20-year service contract with Nordex. The three Nordex wind turbines, with a hub height of around 125 metres, each provide a generating capacity of 5.7 megawatts per turbine.

Marie-Luise Pörtner, Managing Director, BayWa r.e. Wind GmbH, adds: "We are very pleased to continue our long-standing and close cooperation with Encavis. After acquiring the project rights two years ago, we were able to successfully complete the wind farm in Sommerland. This is another important step in driving forward the energy transition in Germany."