Energiekontor adds first solar park to Group portfolio

Garzau-Garzin solar park is connected to the grid

Bremen, 18 April 2018. By connecting the Garzau-Garzin solar park to the grid, Energiekontor AG has now completed the construction of the project commenced at the end of 2017. The solar park with more than 35,000 polycrystalline photovoltaic (PV) modules and total rated power of about 10 MW_p is located in the district of Märkisch Oderland in the eastern part of the German federal state of Brandenburg. The expected annual output of more than 10 million kWh would suffice in theory to supply more than 3,000 households with electricity. Since the PV project had already been awarded in the auction round in April 2016, the electricity from the park will be remunerated at an attractive feed-in tariff under the German Renewable Energy Sources Act (EEG) for a period of 20 years. Garzau-Garzin is the first solar park to be transferred to Energiekontor AG’s own portfolio.

Peter Szabo, CEO of Energiekontor AG, is pleased: “The project is an excellent example of our growth strategy of expanding and diversifying our own power generation portfolio, taking our portfolio up to a total of about 270 MW. We are planning to significantly expand our solar activities in Germany, but especially in the US and France. Energiekontor intends, for instance, to close the first major solar projects in the USA purely on the basis of power purchase agreements. Our vision in Europe and the US is to take a pioneering role in realising the first wind farms and solar parks without subsidies at actual market prices.”

About Energiekontor AG:

For the last 25 years, Energiekontor has stood for a sound approach to business and a wealth of experience in wind power. Formed in Bremerhaven in 1990, the Company was one of the pioneers in the industry and is now one of the leading German project developers. Its core business covers the planning, construction and operational management of wind farms in Germany and abroad, and was expanded to include solar power in 2010. Energiekontor also currently owns and operates 34 wind farms and one solar park with total rated power of around 270 megawatts. Now, Energiekontor AG intends to extend its pioneering role to commercial aspects and to realise wind farms and solar parks at pure market prices without state subsidies in all target markets as quickly as possible.

In addition to its headquarters in Bremen, Energiekontor also maintains offices in Bremerhaven, Hagen im Bremischen, Aachen, Bernau (near Berlin) and Dortmund. The Company also has branch offices in England (Leeds), Scotland (Glasgow), Portugal (Lisbon) and the Netherlands (Nijmegen). The formation of additional branch offices in the US and France is currently underway. Our track record speaks for itself: We have realised 118 wind farms with total rated power of around 940 megawatts and three solar parks with total rated power of almost 30 megawatts. This corresponds to an investment volume of roughly EUR 1.5 billion.

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