ENCAVIS has acquired another solar park in Spain to expand its generation
capacity in Spain to more than 800 MW at year-end 2025

EQS-News: ENCAVIS AG / Key word(s): Expansion/Market Launch
ENCAVIS has acquired another solar park in Spain to expand its generation
capacity in Spain to more than 800 MW at year-end 2025

10.07.2024 / 07:07 CET/CEST
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Corporate News


ENCAVIS has acquired another solar park in Spain to expand its generation
capacity in Spain to more than 800 MW at year-end 2025

Hamburg, 10th July 2024 - Hamburg-based wind and solar park operator Encavis
AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN:
DE0006095003; ticker symbol: ECV) expands its Spanish solar park portfolio
with a further solar park in Andalucia. The Almodóvar solar park (-95
megawatts (MW), 187 gigawatt hours (GWh) annual generation) acquired by
BayWa r. e., close to Córdoba, is already under construction and is expected
to be connected to the grid in Q4/2025.

The solar park is being equipped with state-of-the-art monocrystalline PV
modules mounted on single axis trackers. 76% of the electricity offtake has
already been secured through a PPA (pay-as-produced) signed in December 2021
with a 10-year tenor, beginning with the grid connection planned for
Q4/2025.

According to the Pexapark European PPA Market Outlook for 2024, Spain
remains the country with the largest volume and number of PPA deals for the
fifth consecutive year in 2023, with a total of 4.7 GW in 2023. 4.3 GW
across 37 contracts stem from Spain's solar PV sector. Due to demand for
PPAs primarily attributable to the hedging needs of industrial companies,
Pexapark expects that in 2024 the cumulated 20 GW mark for long-term PPAs in
Spain will be exceeded.

"The Spanish PV market has been and still is one of the fastest growing
markets in Europe with 5.6 GW growth in 2023, thereby reaching 26 GW of
installed PV capacity, second only to Germany," Mario Schirru, CIO/COO of
Encavis AG, welcomes the latest acquisition in Spain. "Spain and Germany
will continue to be very important markets this year and Encavis has been
active in the Spanish market for more than five years, having built up
substantial knowledge and experience."

Encavis has recently acquired various projects from BayWa r.e. across
several countries over the past years. Almodóvar will in a first step be
fully financed by equity by Encavis AG, with project financing planned for
next year. together with further Spanish projects from Encavis' portfolio.

About ENCAVIS:
The Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a
producer of electricity from Renewable Energies listed on the MDAX of
Deutsche Börse AG. As one of the leading independent power producers (IPP),
ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve
European countries. The plants for sustainable energy production generate
stable yields through guaranteed feed-in tariffs (FIT) or long-term power
purchase agreements (PPA). The Encavis Group's total generation capacity
currently adds up to more than 3.5 gigawatts (GW), of which around 2.2 GW
belong to the Encavis AG, which corresponds to a total saving of around 0.8
million tonnes of CO2 per year stand-alone for the Encavis AG. In addition,
the Group currently has around 1.3 GW of capacity under construction, of
which around 930 MW are own assets.

Within the Encavis Group, Encavis Asset Management AG offers fund services
to institutional investors. Another Group member company is Stern Energy
S.p.A., based in Parma, Italy, a specialised provider of technical services
for the installation, operation, maintenance, revamping and repowering of
photovoltaic systems across Europe.

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 "AA" level and ISS
ESG with their "Prime" label (A-), the Carbon Disclosure Project (CDP) with
its Climate Score "B" and Sustainalytics with its "low risk" ESG risk
rating.

Additional information can be found at www.encavis.com

Contact:
Encavis AG
Jörg Peters
Head of Corporate Communications & Investor Relations
Tel.: +49 40 37 85 62 242
E-mail: ir@encavis.com
http://www.encavis.com


---------------------------------------------------------------------------

10.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

---------------------------------------------------------------------------

   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:         info@encavis.com
   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:    1942591

End of News EQS News Service
---------------------------------------------------------------------------

1942591 10.07.2024 CET/CEST