Energiekontor AG, DE0005313506

Energiekontor AG, DE0005313506

23.10.2017 - 14:57:42

Energiekontor signs agreement on the sale of the Odisheim wind farm in Lower Saxony

Wind and solar project developer from Bremen gradually implementing planned projects

Energiekontor signs agreement on the sale of the Odisheim wind farm in Lower Saxony

Bremen, 23 October 2017. With the signing of the sales agreement for the Odisheim wind farm, Energiekontor AG has sold another wind farm to SDAX-listed, Hamburg-based solar park and wind farm operator Capital Stage. The Odisheim wind farm, which is located close to the Elbe estuary in the district of Cuxhaven, consists of three structurally identical wind turbine systems with total rated power of 10.2 MW. Each of the turbines has a hub height of 119 metres and a rotor diameter of 114 metres. Construction of this wind farm is to be completed before the end of the current year.

"The implementation of our projects continues to proceed according to plan," comments Peter Szabo, CEO of Energiekontor AG. "In addition to selling Odisheim, Energiekontor has already signed four other sales agreements with investors this year. A sixth wind farm is currently on the market. With the exception of Odisheim, all projects sold are already in operation; the latest of them was the repowering wind farm Hohengüstow II in the Uckermark region with total rated power of 19.2 MW; half of the project will be transferred to the operator of the old plant. Moreover, Energiekontor recently completed the Kreuzau-Steinkaul and Niederzier-Steinstraß projects in North Rhine-Westphalia, which are earmarked for our own Group portfolio and together account for nearly 14 MW of rated power. To date this year, we have thus put wind farm capacity of just under 44 MW into operation. Two further wind farms with total rated power of about 17 MW are still under construction."

Looking ahead to the full year, Szabo adds: "We expect that the wind farms included in the 2017 planning for Germany will be put into operation by the end of the current year, provided there are no extreme weather conditions in the coming months. Some delivery bottlenecks for modules mean that the completion of the planned solar park will probably shift to the beginning of next year. The realisation of the first British projects is also expected for 2018. Their profitability will be exclusively based on Power Purchase Agreements with large industrial companies. Energiekontor AG thus underlines its pioneering claim to implement the first renewable energy projects at pure market prices and without any state subsidies."  

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 the 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 33 wind farms with a total rated power of around 252 megawatts.

In addition to its headquarters in Bremen, Energiekontor also maintains offices in Bremerhaven, Hagen im Bremischen, Aachen, Bernau (near Berlin) and Dortmund. The Company also has branch offices in England (Leeds), Scotland (Glasgow), Portugal (Lisbon) and the Netherlands (Nijmegen). The formation of additional branch offices in the US and France is currently in the pipeline. Our track record speaks for itself: 113 wind farms completed with around 600 turbines and a total rated power of just under 900 MW. This corresponds to an investment volume of more than EUR 1.4 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.  

Contact:

Investor Relations/Press Dr Stefan Eckhoff Phone: (+49-421) 3304-0 Email: ir@energiekontor.de  

Energiekontor AG / Reuters: EKT / ISIN: DE0005313506

23.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Energiekontor AG Mary-Somerville-Straße 5 28359 Bremen

Germany Phone: 04 21/33 04-0 Fax: 04 21/33 04-4 44 E-mail: info@energiekontor.de Internet: www.energiekontor.de ISIN: DE0005313506 WKN: 531350 Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange   End of News DGAP News Service

621551  23.10.2017 

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