Project developer from Bremen concludes 2018 as planned
Bremen, 21 December 2018. Energiekontor AG closes the 2018 financial year as planned. Shortly before the end of the year, the Hammelwarder Moor wind farm (10.2 MW) in the Brake district was sold to Terravent Deutschland GmbH based in Constance, which made an important contribution to the expected net income for 2018.
Having achieved the financial close for the Bultensee turbine (3.4 MW), which is located just outside Bremen, construction can now begin. The wind turbine is scheduled for completion in 2019. Other projects under construction include the Zapel solar park (approx. 6.3 MWp) and the first unsubsidised English wind farm, Withernwick II. Both projects are scheduled to go into operation in the first quarter of 2019.
As announced at the beginning of the year, Energiekontor AG also commissioned the New Rides wind farm in December, which is located in the southern English county of Kent. The wind farm consists of four turbines with a total rated power of around 9 MW.
In addition, Energiekontor signed another agreement this week with turbine manufacturer GE for the supply of wind turbines with a total rated output of over 100 MW. Like the previously concluded contracts with Nordex and Senvion, this agreement helps secure a solid economic basis for Energiekontor’s successful participation in the forthcoming auctions.
Peter Szabo, CEO of Energiekontor AG, is satisfied: “We were able to commission three wind farms, one individual turbine and one solar park this year with a total capacity of around 47 megawatts. Of these, two wind farms with a combined output of around 23 megawatts were sold to investors; the Garzau-Garzin solar park was already included in our own portfolio at the beginning of the year. We will thus close the 2018 financial year as planned. As announced, 2018 will be a year of transition for the industry as a whole due to the sharp fall in prices in the 2017 auctions. We have used this time to set the course for the coming years: By entering into package purchase agreements with several turbine manufacturers, we are securing our pipeline for successful participation in the forthcoming German auctions. In addition, construction of two approved major projects in Scotland is due to begin in 2019. As with the Withernwick II wind farm, which is under construction, Energiekontor has planned to realise these projects without state subsidies, solely on the basis of long-term power purchase agreements (PPAs). In the German market, Energiekontor is currently preparing such PPAs for the solar sector. We are already in the final negotiating stages for one agreement and thus well on our way to our first unsubsidised solar project in Germany. This underlines Energiekontor’s pioneering role in the implementation of projects in direct competition with conventional power plants.”
Looking ahead, Mr Szabo adds: “We expect the company’s growth to continue in the coming years. The conclusion of PPAs in previously regulated markets such as Germany is expected to add considerable impetus to this growth. The realisation of unsubsidised projects will be the first step towards the medium-term realisation of wind farms and solar parks with a levelized cost of electricity below that of coal and nuclear power plants. Energiekontor wants to play a pioneering role here and make an important contribution to the vision of a 100 percent renewable energy industry.”
About Energiekontor AG:
For the last 25 years, Energiekontor has stood for a sound approach to business and a wealth of experience in wind power. Formed in Bremerhaven in 1990, the company was one of the pioneers in the industry and is now one of the leading German project developers. Its core business covers planning, construction and operational management of wind farms in Germany and abroad, and was expanded to include solar power in 2010. Energiekontor also currently owns and operates 34 wind farms and one solar park with total rated power of around 270 megawatts. Energiekontor AG now also intends to be a pioneer when it comes to economic viability in realising the first wind farms and solar parks at market prices without state subsidies in all target markets as quickly as possible.
In addition to its headquarters in Bremen, Energiekontor also maintains offices in Bremerhaven, Hagen im Bremischen, Aachen, Dortmund, Bernau (near Berlin) and Potsdam. The company also has branch offices in England (Leeds), Scotland (Glasgow), Portugal (Lisbon), the Netherlands (Nijmegen), the US (Austin/Texas and Rapid City/South Dakota) and France (Toulouse). The formation of an additional office in France (Rouen) is currently in the making.
Our track record speaks for itself: 121 wind farms and three solar parks completed with a total rated power of just under 1 gigawatt. This corresponds to an investment volume of more than EUR 1.6 billion.
Energiekontor went public on 25 May 2000. The shares of Energiekontor AG (WKN 531350/ISIN DE0005313506) are listed in the General Standard segment of the Frankfurt Stock Exchange and can be traded on all German stock exchanges.