Energiekontor concludes agreement with the Nordex Group on the supply of wind turbines with a generation capacity of more than 300 MW

Bremen-based project developer takes important step to secure its project pipeline

Bremen, 13 September 2018. Bremen-based Energiekontor AG signed a contract with the wind turbine manufacturer Nordex Group yesterday for the supply of the latest generation of turbines with total rated power of more than 300 MW. The turbines are to be installed successively in projects in Germany. The first joint projects are scheduled to be commissioned in 2019.

The agreement provides Energiekontor with a solid economic basis for participating successfully in future auctions. The turbine manufacturer, in turn, benefits from reliable, contractually agreed conditions for purchases over several years.

The head of the Nordex Group's business in Germany, Jörg Hempel, comments: “What convinced us was Energiekontor's track record and the company’s reliable realisation of projects in recent years. We have created what I perceive as a win-win situation here, which allows us to implement, together with a strong project development partner, a series of planned projects in the next few years.”

Peter Szabo, CEO of Energiekontor AG, adds: “We would like to thank Mr Hempel and his colleagues for their confidence in us, as they expect that the projects initiated together will be able to come out successfully in the auctions to be held in the coming years. We are delighted to have Nordex, a renowned manufacturer of top-quality turbines, at our side along this journey. As part of our efficiency enhancement measures, the agreed package gives us a predictable basis for the profitable implementation of wind farms in the coming years. With its vision of electricity demands being fully covered by renewable energy, Energiekontor wants to be one of the first companies to realise wind farms and solar parks at levelized cost of electricity below the generation costs of conventional power plants.”

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 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. Energiekontor AG now also intends to be a pioneer when it comes to economic viability in realising the first wind farms and solar parks at 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, Dortmund, Bernau (near Berlin) and Potsdam. The company also has branch offices in England (Leeds), Scotland (Glasgow), Portugal (Lisbon), the Netherlands (Nijmegen), the US (Austin/Texas and Rapid City/South Dakota) and France (Toulouse). The formation of an additional office in France is currently in the making.

Its 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 about 30 megawatts. This corresponds to an investment volume of more than EUR 1.6 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.

Profile of the Nordex Group

The Group has installed wind power capacity of more than 23 GW in over 25 markets, generating sales of around EUR 3.1 billion in 2017. It currently has roughly 5,000 employees. The production network comprises plants in Germany, Spain, Brazil, the United States and India. The product range primarily concentrates on onshore turbines in the 1.5 - 4.8 MW class addressing the requirements of land constrained as well as grid constrained markets.