EQS-News: Encavis Asset Management announces start of construction of Germany's second largest solar park: Big, Bigger, Bartow

Corporate News

Big, Bigger, Bartow: Encavis Asset Management announces start of construction of Germany's second largest solar park.

Neubiberg/Munich, March 6, 2024 – Encavis Asset Management AG (Encavis AM), a leading provider of sustainable energy investments for institutional investors and a subsidiary of the MDAX-listed wind and solar park operator Encavis AG, starts the construction of a superlative solar park for the Encavis Infrastructure Fund IV (EIF IV).

A total capacity of 260 megawatts (MW) and spanning an area of 205 hectares – this solar park will rank among the largest of its kind in Germany. Its location in the municipality of Bartow, approximately 150 kilometres north of Berlin, was meticulously selected to maximise solar radiation and efficiency. The construction of the ground-mounted solar plant will occur in two phases, with the first phase scheduled to commence at the beginning of March 2024. Commissioning is anticipated to take place in the summer of 2025. The solar park is projected to generate around 270,000 megawatt hours (MWh) of electricity annually, providing green electricity to approximately 96,000 households and avoiding 100,100 tons of CO₂ emissions per year.

This solar park represents a true "flagship project" within the EIF IV portfolio, highlighting Encavis' market presence and prowess in advancing Renewable Energies and executing sustainable energy projects.

"This enormous large-scale project reaffirm our expertise in sophisticated investments in the Renewable Energy sector and making a substantial contribution to the energy transition. Leveraging our industry know-how, we are committed to operating the solar park in an environmentally sustainable and economically profitable manner," says Karsten Mieth, Spokesperson of the Board of Encavis Asset Management AG.

The EIF IV is exclusively offered by BayernLB and is currently open for investments. Approximately 50% of the fund's target size has already been allocated. The fund is designed for credit institutions, primarily savings banks and cooperative banks, as for additional institutional investors, which prioritize stable cash flows for their investments and specific key figures for reporting purposes. BayernInvest Luxembourg S.A. oversees fund management duties in its capacity as an AIFM.

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 capacity currently adds up to around 3.6 gigawatts (GW), of which around 2.2 GW is provided by Encavis AG. This corresponds to a total saving of around 0.8 million tonnes of CO₂ per year stand-alone for the Encavis AG.

Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

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 "AA" and ISS ESG with their "Prime" label (A-).

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

Press contact:

Encavis AG       

Tanja Van den Wouwer      

Head of Sustainability & Communications

Telephone +49 89 442 30 60 25         

[email protected]

www.encavis.com