Four solar and wind projects launched – Energiekontor starts construction on 125 megawatts and expands its portfolio to more than 610 megawatts in the future

Four solar and wind projects launched – Energiekontor starts construction on 125 megawatts and expands its portfolio to more than 610 megawatts in the future

Bremen, 30 September 2024 – Energiekontor AG (“Energiekontor”), a leading German project developer and operator of wind and solar parks based in Bremen that is listed in the General Standard, reached financial closing on three solar park projects and one wind project in September 2024, thus successfully bringing the projects to construction readiness. All four projects are to be incorporated into the company’s own portfolio once they are commissioned.

Energiekontor received building permits for two solar park projects in Mecklenburg-Western Pomerania in the 2023 financial year, with both projects recently reaching financial closing. Now that the loan has been granted, construction work can begin on the two solar parks, which have a combined generation capacity of around 113 megawatts peak. Commissioning is currently planned for mid-2026. The two solar parks have long-term power purchase agreements (PPAs) with a term of 15 years, which Energiekontor concluded for the first time with Salzgitter Flachstahl GmbH, a leading manufacturer of high-quality steel products. Once the plants are commissioned, Energiekontor will supply Salzgitter Flachstahl GmbH with more than 120 gigawatt-hours of green electricity a year – enough to save almost 84,000 tonnes of CO₂ a year in purely mathematical terms.

A loan was also successfully granted for the Königsfeld solar park project in the Black Forest in Baden-Württemberg. The project was successful in the German Federal Network Agency’s tender under the German Renewable Energy Sources Act (EEG) in March 2024. It has nominal power of 4.6 megawatt peak. As the plans currently stand, the solar park is scheduled to begin commercial operation in the first quarter of 2025. Energiekontor also reached the financial closing on a wind project in the district of Verden in Lower Saxony. The project was awarded a contract in the German Federal Network Agency’s EEG tender in February 2024. It has nominal power of 7.2 megawatts.

With these four additional projects, three wind parks and five solar parks with a total generation capacity of more than 230 megawatts are currently under construction. All of them will join Energiekontor’s own portfolio while also adding further technological diversity. In addition to the aforementioned parks, those under construction include the Oederquart and Würselen repowering wind parks with a total of around 35 megawatts and the Seukendorf and Letschin solar parks, which have a combined total of around 72 megawatts peak. The Seukendorf site is scheduled to be commissioned in the fourth quarter of 2024, with Letschin to follow in the first quarter of 2025. Together with the Scottish wind park projects that have already been sold and the Oederquart repowering sub-project, which has also been sold, the parks under construction total around 380 megawatts.

In September 2024, Energiekontor also received a positive approval notice for the construction of wind turbines in Brandenburg with a total nominal power of around 11 megawatts, with further capacities expected to be approved. This means that Energiekontor continues to have building permits at a high level totalling more than one gigawatt.

“Our perseverance is paying off. We are continuing to drive the realisation of our project pipeline with the loan approvals we have achieved. The commissioning of the parks currently under construction, which we intend to incorporate into our own portfolio, will significantly strengthen our electricity generation segment with a total of more than 610 megawatts in the future. At the same time, the building permits received in recent months ensure that we continue to have a high level of projects at mature stages of development. In conjunction with the successful participation in EEG tenders and attractive PPA agreements, these projects are also an important economic basis for our project business,” says Peter Szabo, CEO of Energiekontor AG.

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 38 wind and solar parks with a nominal power of more than 380 megawatts in its own portfolio. More than 230 megawatts, which are also earmarked for the Group's own portfolio, are currently under construction.  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 over 160 wind and solar park projects with a total nominal power of about 1.4 gigawatts. This corresponds to an investment volume of more than 2.0 billion euros. The significantly expanded project pipeline in the first half of 2024 (11.0 gigawatts excluding US project rights) shows the future growth potential and the possible contribution that Energiekontor can make to the expansion of renewable energies.

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

Contact:

Julia Pschribülla
Head of Investor & Public Relations
Tel: +49 (0)421-3304-126

Kathrin Mateoschus
Investor & Public Relations Manager
Tel: +49 (0)421-3304-297

Email for investor relations matters: ir@energiekontor.com
Email for press matters: pr@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