News Article

Encavis Increases Green Electricity Production By 29% In 2021


SDAX-listed wind and solar park operator Encavis AG
increased electricity generation from Renewable Energies again by a significant
29% in 2021. Electricity production increased from around 3.43 terawatt hours
(TWh) in the previous year to around 4.42 TWh in 2021, setting again a new

Rather on average weather conditions in many parts of Europe
hindered a clearly higher output of energy production in the past year. The
portfolio of Encavis AG achieved an increase of 31% to 2.75 TWh electricity
production from Renewable Energies as well as the portfolio of Encavis Asset
Management (EAM) grew by 24% to 1.66 TWh electricity production and reached new
record highs despite significantly less favourable wind conditions in
first-half of 2021 and a fourth quarter with noticeable less sunshine than in
the previous year.

PV plants in total dominated with growth rates of +72% at
Encavis AM and +73% at Encavis AG the growth of Renewable Energy production.
The full-year effect of the two Spanish large-scale PV plants Talayuela (300
MWp) and La Cabrera (200 MWp) was responsible for the strong increase.
Talayuela, having been connected to the grid on January 4, 2021, reached its
full output mid of March 2021 and generated electricity of around 490 GWh in
2021. La Cabrera, connected to the grid already since October 1, 2020, injected
around 400 GWh of green electricity into the grid in 2021.

"We will expand our portfolio internationally in line
with our >>Fast Forward 2025 growth strategy and further improve our
operational efficiency and performance to enable Encavis to make a record
contribution of CO2 savings to the carbon footprint in the future", Dr
Dierk Paskert, CEO of Encavis AG, underlined the Group's sustainable growth

The Encavis Group increased its own generating capacity
connected to the grid in 2021 by 848 megawatts (MW) in total. Thereof 435 MW
connected to the grid by Encavis AG and 413 MW by Encavis Asset Management.
Generating capacities of the Group grew disproportionatelly from 209 MW via 481
MW to 848 MW in line with the same development in both operating business units
since 2019.

"Interest rate risks of the Group are mitigated for all
loans, via fixed interest rate loans or via derivatives on Group level as well
as on project level to secure up to 100% of each of the current remaining
credit volume to protect the Group as well as the individual projects against
the currently increasing long-term interest rates", Dr Christoph Husmann,
CFO of Encavis AG, invalidated current inquiries regarding the potential
impacts on the Group.

Encavis makes a significant contribution to sustainable and
climate-friendly energy supply through the generation of electricity from
renewable sources. The renewable energy generated by the Encavis Group through
the use of photovoltaic and wind power alone avoided the climate-harmful
emission of more than 1.31 million tonnes of CO2, in 2021.

Encavis AG will publish the consolidated financial
statements for the 2021 financial year on the evening of March 29, 2022.

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