Green light for repowering project in the district of Stade – Energiekontor begins construction and partial sale of the Oederquart project

Green light for repowering project in the district of Stade – Energiekontor begins construction and partial sale of the Oederquart project

Bremen, 26 April 2024 – Energiekontor AG (“Energiekontor”), a leading German project developer and operator of wind and solar parks listed in the General Standard, has reached the financial close stage of the Oederquart repowering wind park project in the district of Stade in Lower Saxony. The project, which is now ready for construction, will be partly sold and partly included in the company’s own portfolio.

Energiekontor received a building permit for the project in summer 2023, enabling it to successfully participate in the renewables tender by the Bundesnetzagentur, the German Federal Network Agency, in autumn 2023. The Oederquart repowering project has since progressed to financial close. Now that the loan for the project has been approved, work can begin on dismantling the existing and constructing the new wind park.

The ten Enercon wind turbines at the site, each with a generation capacity of 1.5 megawatts, are to be replaced by six new, more powerful wind turbines from the same manufacturer, each with a nominal power of around 5.6 megawatts. The new E-160 EP5 turbines have a hub height of roughly 120 metres and a rotor diameter of approximately 160 metres. By more than tripling the total generation capacity to around 33 megawatts once complete, the repowered park’s forecast electricity yield will increase to more than 85 million kilowatt-hours a year – enough to supply some 26,000 households in Germany with renewable electricity and save roughly 65,000 tonnes of CO₂ annually.

“Repowering existing sites is an important part of our business. In the coming years, more and more wind turbines will be phased out of the guaranteed remuneration system under the German Renewable Energies Act. We are systematically seizing these opportunities. Thanks to our many years of expertise in this area, we can now also contribute to achieving Germany’s installation targets by the end of 2030 with our project in Oederquart”, says Peter Szabo, CEO of Energiekontor AG. “Legacy facilities are very important in our project development activities. Not only do they provide long-term, site-specific data on wind levels, we can also make use of the existing infrastructure there, allowing us to plan our projects in the best possible way and realise them in a cost-conscious manner, also in economically challenging times.”

Energiekontor planned and constructed the Oederquart wind park around 25 years ago. Since then, Energiekontor has been operating two of the ten existing wind turbines in its own portfolio at the Osterende wind park. Energiekontor plans to sell part of the project and incorporate three of the six new turbines into its own park portfolio, expanding the total generation capacity of the Group’s portfolio by around 17 megawatts.

In February 2024, Energiekontor most recently commissioned the sold repowering wind park project in Bergheim, North Rhine-Westphalia, with approximately 11 megawatts. Energiekontor has also received six further building permits since the beginning of the 2024 financial year, including for three wind projects in Germany (around 35 megawatts in total). The company has likewise received the go-ahead for its two first solar projects in France (around 44 megawatts in total), and for a British wind project (66 megawatts). Aside from the British project, all of the projects are intended for the Group’s own portfolio. In addition, two German solar parks with a total capacity of more than 70 megawatts are currently under construction and are to be transferred to the company’s own portfolio by the end of 2024 and the first quarter of 2025 respectively once they are commissioned.

Energiekontor AG’s interim report on the first quarter of 2024 will be published on 13 May 2024 and will be available on the website at https://www.energiekontor.de/en/investor-relations/financial-reports.html.

About Energiekontor AG

For over 30 years, Energiekontor has stood for a solid business policy and extensive experience in renewable energies. Founded in Bremerhaven, Germany, in 1990, the company is among the pioneers in its industry and is now one of Germany’s leading project developers. Its core business ranges from the planning and construction to the operational management of wind and solar parks in Germany and abroad. In addition, Energiekontor operates around 40 wind and solar parks with a nominal power of around 390 megawatts in its own portfolio. Energiekontor also plays a pioneering role in economic terms and aims to realise the first wind and solar parks in all target markets at market prices as quickly as possible, independently of state subsidies.

Along with its headquarters in Bremen, Germany, Energiekontor has offices in Bremerhaven, Hagen im Bremischen, Aachen, Augsburg, Berlin, Berlin-Spandau, Potsdam and Hildesheim. The company also has branch offices in England, Scotland, Portugal, France and the United States.

Since being established, Energiekontor has a proud track record of realising more than 160 wind and solar park projects with a total generation capacity of around 1.4 gigawatts. This corresponds to an investment volume of more than 2.0 billion euros (as at 31 December 2023).

Energiekontor AG (WKN 531350/ISIN DE0005313506/General Standard) is listed in the SDAX and the TecDAX of the German Stock Exchange in Frankfurt and can be traded on all German stock markets.

Contact

Julia Pschribülla
Head of Investor & Public Relations   
Phone: +49 (0)421-3304-126   
Email: ir@energiekontor.com

Energiekontor AG
Mary-Somerville-Strasse 5
28359 Bremen 
Germany

Phone: +49 (0)421-3304-0
Fax: +49 (0)421-3304-444
Email: info@energiekontor.de
Web: www.energiekontor.de/en/index.html