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 record.
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 ambitions.
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.
