Encavis reaches ready-to-build (RTB) status of its largest Danish solar park of around 140 megawatts of generation capacity
Encavis reaches ready-to-build (RTB) status on the around 140 MW solar park in Brønderslev (North Jutland). It is the second successful project from the more than 500 MW strong strategic development partnership of solar projects with GreenGo Energy in Denmark. The generation of solar power in Denmark is particularly attractive to take advantage of higher prices for solar power during periods of low wind.
State-of-the-art, bifacial solar modules mounted on single-axis trackers characterize the solar park being built northeast of Aalborg. Once completed, it will provide subsidy-free renewable energy that will be sold directly to an industrial customer under a long-term power purchase agreement (PPA), expected to last ten years.
"Thanks to this major project, we are a big step closer to our target of 500 MW of additional generation capacity this year with 376 MW currently," said Mario Schirru, Chief Investment Officer/Chief Operating Officer (CIO/COO) of Encavis, welcoming the project’s ready-to-build (RTB) status, adding, "Our Danish solar park portfolio will then comprise around 260 MW and, together with the Netherlands (around 230 MW) and Germany (around 300 MW), will be one of our largest solar park portfolios in Europe, after Spain (500 MW), and will successfully contribute to diversification."
"We are pleased to reach ready-to-build (RTB) status on this ambitious 280+ hectare 140 MW solar park in Brønderslev, one of the largest solar parks to reach this milestone in Denmark. It will be a landmark project demonstrating how the latest technology in solar PV and enhancement of biodiversity is best applied. The project also demonstrates the power of our platform and 360° business model, how larger project portfolios can advance successfully by competent partners like Encavis", Karsten Nielsen, CEO of GreenGo Energy, underlined the achievement of ready-to-build (RTB) status of this major project for Encavis.
About Encavis:
Encavis 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 GreenGo Energy:
GreenGo Energy was founded in 2011 with the vision to accelerate conversion to Renewable Energy generation, by an innovative and scalable business model. GreenGo Energy’s 360° full services platform includes project origination, development, offtake, engineering, procurement, construction management, O&M and asset management services, fully tailored and bespoke to our client’s needs and investment profile.
GreenGo Energy now has more than 8 GW of energy projects in various stages of development and construction in selected U.S. states and Northern Europe, of which more than 3 GW has been contracted through partnership agreements with tier 1 investors in the renewable space.
Additional information can be found on www.greengoenergy.com