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Construction start for the wind farm Bremen-Hemelingen following successful year-end completion of all projects planned for 2017

Press Release from 2018-02-16

Energiekontor successfully implements all projects that were approved before the end of 2016

Bremen, 16 February 2018. Energiekontor AG has completed the construction of Hammelwarder Moor wind farm (10.2 MW) and has begun construction of the Bremen-Hemelingen wind farm (12.8 MW) as well as the single turbine Debstedt II (4.5 MW). At the end of December 2017, the Company achieved commissioning as planned of two wind farms that have been sold to an investor, Odisheim (10.2 MW) in Lower Saxony und Hürth-Barbarahof (5.0 MW) in North Rhine-Westphalia. Almost all of the projects that were planned for the 2017 financial year were completed by the end of the year. Only the commissioning of the third turbine at Hammelwarder Moor wind farm (10.2 MW), which will remain in the Group-owned portfolio, was delayed into the new year.

The Debstedt II single turbine is an extension of the Debstedt repowering wind farm, which had already been sold and commissioned with three turbines in 2016. With this project and the construction of the Bremen-Hemelingen wind farm, Energiekontor is now realising the last two projects that were approved before the end of 2016 and therefore still subject to the old tariff system as per the transitional provisions of the 2017 German Renewable Energy Sources Act (EEG). Four Siemens wind turbines with a rotor diameter of 113 metres and total rated power of 12.8 MW will be built at the Bremen-Hemelingen site, located very near to the Hansalinie business park on the A1 motorway. In theory, the annual output of the wind farm would be enough to provide more than 8,000 households with environmentally-friendly electricity.

“The auctioning system in Germany as well as the gradual discontinuation of subsidy measures for renewable energy in other countries means that there is increased pressure on costs and margins across the entire industry,” comments Peter Szabo, CEO at Energiekontor AG. “State regulations for new installations of wind farms and solar parks won’t become obsolete until it is possible to generate electricity from renewable energy at market prices without subsidies. Energiekontor intends to take on a pioneering role by being one of the first companies to realise wind and solar projects at a levelized cost of electricity that is comparable to the cost of electricity from conventional energy sources in order to make an important contribution to covering energy needs from 100 percent renewable energy.”

Szabo continues to explain, “In Scotland, where the wind conditions are excellent, large-scale wind farms will be constructed on the basis of long-term Power Purchase Agreements or PPAs. We have many years of positive experience with these PPAs in Great Britain, thus gaining the trust of large industrial partners. In the US, the development of large-scale solar parks in Texas will also be based on such PPAs. And even in Germany, industrial customers have started entering into negotiations for concluding long-term Power Purchase Agreements. Furthermore, over the years Energiekontor AG has been developing an array of innovative measures to increase cost efficiency of project development and operation of wind farms and solar parks. The entire electricity market is in a radical state of change and we will benefit from this in the long term.”


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 35 wind farms with a 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 in the pipeline. Our track record speaks for itself: 118 wind farms in operation, with 621 turbines and a total rated power of around 940 megawatts. This corresponds to an investment volume of about 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.

Head of Investor Relations

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Fax: +49 421 3304-444