ENCAVIS AG:
Corporate News E energija group & GE sell their operational Lithuanian onshore wind farm (69 MW) to Encavis AG Hamburg, 16 December 2022 – E energija group & GE Energy Financial Services announce that they have closed a transaction to sell 100% of shares of the 69 megawatts (MW) operating onshore wind farm in the Telšiai region Lithuania to Encavis AG, the Hamburg-based wind and solar park operator, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; stock exchange symbol: ECV). The wind farm consists of 13 GE Renewable Energy's 5.3 (MW) new generation Cypress wind turbines. It is the first wind farm of this size built and connected to the grid in Lithuania since 2016. The acquisition is the first investment into a wind farm in Lithuania by Encavis AG, one of the leading independent power producers (IPP) in Europe. The electricity generated by this park significantly increases (by approximately 17%) the amount of domestic wind electricity produced in Lithuania compared to 2021. Furthermore, E energija group will partner with Encavis as the commercial and technical asset manager, ensuring the efficient operation of the wind farm together with General Electric Lithuania, with the latter providing a full-scope service for a 30-year period. “We are pleased to partner with Encavis, a leading European IPP. In close cooperation with Encavis, E energija group will further ensure the reliable operation of the wind farm and utilise its expertise to expand its portfolio with more Renewable Energy projects. This deal with Encavis will enable us to move forward on developing projects on a larger scale and contribute even more significantly to building up an energy independent future for our country and mitigate climate change”, says Gediminas Uloza, CEO of the E energija group. The project was developed by the E energija group and GE Energy Financial Services as co-sponsors of the wind farm’s project company. It was the first wind farm built without state aid and feed-in tariff (FiT) in Lithuania. For this project, the German BayernLB structured and financed a green loan covered by the German export credit agency Euler Hermes. “Developing this project was a cross-border effort and partnership with E energija,” emphasizes Fabio Borba, Managing Director, GE Energy Financial Services, and “we are delighted to invest in such a landmark project and play a significant role through direct equity investment to accelerate the energy transition in Lithuania. We look forward to helping our customers to decarbonise across Europe through financial and technology solutions.” In the municipality of Tryškiai, close to the wind farm, E energija group also invested in a service centre building. It serves as an office for General Electric Lithuania and E energija employees who are servicing the wind park and other wind farms under construction in the region.
About E energija group: Additional information can be found on www.e-energija.lt
For more information, visit www.geenergyfinancialservices.com and follow us on Twitter @GEEnergyFinServ and LinkedIn.
Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their "A" level and ISS ESG with their "Prime" label. Additional information can be found on www.encavis.com
Contacts: GE Energy Financial Services ENCAVIS AG End of Media Release Issuer: ENCAVIS AG Key word(s): Energy
16.12.2022 CET/CEST Dissemination of a Press Release, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | ENCAVIS AG |
Große Elbstraße 59 | |
22767 Hamburg | |
Germany | |
Phone: | +49 4037 85 62 -0 |
Fax: | +49 4037 85 62 -129 |
E-mail: | [email protected] |
Internet: | https://www.encavis.com |
ISIN: | DE0006095003 |
WKN: | 609500 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1515283 |
End of News | EQS Media |
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1515283 16.12.2022 CET/CEST
Encavis AG Stock
Based on 2 Buy predictions and 1 Sell predictions the sentiment towards Encavis AG is rather balanced.
However, we have a potential of -12.28% for Encavis AG as the target price of 15 € is below the current price of 17.1 €.