Corporate News
 

ENCAVIS and ILOS sign framework agreement for a 300 megawatts pipeline of solar projects in Italy – expanding ENCAVIS’ solar project pipeline to 2.6 gigawatts and increasing the number of Strategic Development Partners to 12 again
 

Hamburg, 25 January 2023 – Hamburg-based wind and solar park operator Encavis AG (Prime Standard; ISIN: DE0006095003; stock symbol: ECV), listed on the MDAX of Deutsche Börse AG, concludes a framework agreement with ILOS New Energy Italy S.r.l. (a wholly owned subsidiary of the German ILOS Projects GmbH) for a solar project pipeline of up to 300 megawatts (MW).

With this new partnership, Encavis gains exclusive access to ten late stage solar park projects in Italy. The individual projects, with generation capacities ranging from 20 MW to 55 MW, are located in central and southern Italy, as well as Sardinia and Sicily. The constantly changing volume of generation capacities in the solar project pipeline of the Strategic Development Partners (SDPs) feeding this pool is thus increasing from recently 2.3 gigawatts (GW) to currently 2.6 GW. Additional generation capacities in both the wind and solar segments will continuously be acquired directly in the market.

"Together with our new partner ILOS, we are continuing to significantly expand our presence in the important Italian market," Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO), welcomes the start of the cooperation and adds, "with ILOS, we currently have 12 excellent Strategic Development Partners on board to drive the continued diversified expansion of our solar generation capacities in Europe and to achieve our target of a generation capacity of 3.4 GW by 2025 at the latest - or even earlier.”

The complete documentation for the respective approval procedures has been submitted or will be submitted shortly for all projects. The pipeline projects are expected to reach ready-to-build (RTB) in the short to mid term. The plan is to bundle several of these Italian projects after completion in order to conclude long-term power purchase agreements (PPAs) based on a pay-as-produced structure.

"Our partnership with Encavis showcases ILOS's commitment to excellence in the development of green-field PV projects, utilising state-of-the-art engineering solutions to ensure high yields and returns," states Sergio Chiericoni, Managing Director of ILOS Italy.

About ENCAVIS:
Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group's total generation capacity currently adds up to more than 3.4 gigawatts (GW), which corresponds to a total saving of more than 1.4 million tonnes of CO₂ per year. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.

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

Additional information can be found on www.encavis.com

About ILOS:
The Omnes Capital Venture ILOS Projects GmbH was established with a focus on PV development within Europe. Omnes is providing the development capital, whilst a structured credit facility from EIG Global Energy Partners is covering the construction equity and acquisition capital for ready-to-build assets. The ambition is to develop a significant pipeline and become an IPP that operates PV assets in the core markets of Europe.

Additional information can be found on www.ilos-energy.com

Contact:
ENCAVIS AG       
Jörg Peters       
Head of Corporate Communications & IR
Tel.: + 49 40 37 85 62 242     
E-Mail: joerg.peters@encavis.com
 

ILOS Projects GmbH
Thao Vo
Marketing & PR
Tel: +49 (0)721 626906 132
E-mail: vo@ilos-energy.com