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DGAP-News: Energiekontor concludes power purchase agreements (PPAs) for existing wind farms


DGAP-News: Energiekontor AG / Key word(s): Contract
Energiekontor concludes power purchase agreements (PPAs) for existing wind farms

13.01.2021 / 07:30
The issuer is solely responsible for the content of this announcement.


- PPAs concluded for around 120 MW

- Electricity output sufficient for around 60,000 households

 

Energiekontor provides operational management services for wind farms and solar parks with a nominal output of more than 1 GW. Of these, wind farms with around 270 MW are operated in the company's own portfolio. For some of these wind farms, the term of the fixed 20-year remuneration under the Renewable Energy Sources Act (EEG) ended on 31 December 2020. Energiekontor has been preparing for this situation for many years with a large number of efficiency- and lifetime-increasing measures, so that these wind farms can be operated economically for several more years. In future, the electricity generated will be remunerated on the basis of bilateral power purchase agreements (PPAs) concluded with energy supply companies or other industrial customers.

In recent weeks, Energiekontor has concluded a series of PPAs for 22 existing wind farms with a total of 123 wind turbines and a total output of around 120 MW. The amount of electricity is sufficient to cover the electricity needs of around 60,000 average German households in purely mathematical terms.

The contracts have a term of 1-2 years. The relatively short term was chosen because stronger demand for electricity and rising wholesale electricity prices are expected after the Corona pandemic will be overcome. In addition, the political impulses at EU level for the expansion of renewable energies, the national hydrogen strategy, the gradual decommissioning of fossil-fuelled power plants and the planned nuclear phase-out are seen as price-promoting factors.

In principle, Energiekontor aims to repower wind farms after the expiry of the EEG compensation, i. e. to replace the old turbines with modern, more efficient and more powerful new wind turbines. The PPAs concluded do not represent an obstacle to repowering.

PPAs are not only of great importance for legacy parks but are also increasingly developing into the central economic basis for the realisation of renewable energy projects. Energiekontor is a pioneer in this field and has already realised various new wind and solar projects on a pure PPA basis without state subsidies. In the current year alone, new solar projects with a volume of up to 180 MW are to go into construction.

 

About Energiekontor AG:

A solid business policy and a lot of experience in renewable energies: Energiekontor has stood for this for 30 years. Founded in Bremerhaven in 1990, the Company is one of the pioneers in the industry and is now one of the leading German project developers. The core business ranges from planning and construction to the operational management of wind farms in Germany and abroad and was expanded to include solar energy in 2010. In addition, Energiekontor operates wind and solar farms with a nominal output of almost 280 megawatts in its own portfolio. Energiekontor also aims to play a pioneering role in economic terms and to realise the first wind and solar parks in all target markets at market prices as quickly as possible, independently of state subsidies.

In addition to its headquarters in Bremen, Energiekontor has offices in Bremerhaven, Hagen im Bremischen, Aachen, Augsburg, Bernau near Berlin and Potsdam. The Company also has offices in England (Leeds), Scotland (Edinburgh, Glasgow), Portugal (Lisbon), USA (Austin/Texas and Rapid City/South Dakota) and France (Toulouse, Rouen).

The proud record since the Company was founded: 126 realised wind farms and eleven solar parks with a total output of over 1 gigawatt. This corresponds to an investment volume of around 1.7 billion euros.

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

 

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



13.01.2021 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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
EQS News ID: 1160225

 
End of News DGAP News Service

1160225  13.01.2021 

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