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ENCAVIS AG, DE0006095003

ENCAVIS AG, DE0006095003

01.10.2021 - 13:04:29

ENCAVIS AG refinances EUR 88.0 million project portfolio?to significantly improved conditions

Corporate NewsENCAVIS refinances EUR 88.0 million project portfolio?to significantly improved conditions Hamburg, October 1, 2021 - Hamburg-based wind and solar park operator Encavis AG (Prime Standard; ISIN: DE0006095003, stock exchange symbol: ECV) signed and closed a EUR 88.0 million non-recourse project financing to refinance a portfolio of 21 ground-mounted solar PV plants located in Italy aggregating to an overall capacity of 41.7 MWp. All plants are operational since 2011 and are eligible for the Italian incentive scheme and benefit from a feed-in tariff for approx. further 10 years. Twelve plants, totaling to approx. 33 MWp or 79% of the total portfolio, are located in Northern Italy (Piemonte, Emilia Romagna and Toscana region), six plants are located in Central Italy (Abruzzo, Marche and Umbria region) and the remaining three plants are located in Southern Italy/ Puglia region.

After the successful closing of a refinancing for a solar portfolio of overall 29.1 MW in Italy in July 2020, Encavis succeeded again to refinance existing bilateral senior debt facilities for Italian PV assets. Both refinancing transactions have been completely structured, arranged and managed by Encavis' own inhouse Project Finance team, established in 2019. In both transactions Encavis benefitted from the current low-interest environment and has captured the positive developments in the debt market particularly for photovoltaic plants.

With this transaction, Encavis has taken again another step towards to the implementation of its >>Fast Forward 2025 growth strategy presented in January 2020 by optimising the structures and costs of existing project financings by benefiting from lower, more than halved interest rates, an enhanced leverage ratio as well as streamlined project structures for the ongoing operational management of the portfolio.

The financing was provided by a club of four international banks, consisting of ABN AMRO Bank N.V., Bankinter, S.A., Bayerische Landesbank and Soci?t? G?n?rale. With ABN AMRO and Soci?t? G?n?rale providing project financing services to Encavis for the first time, Encavis is continuing the internationalisation of its banking partners to finance Encavis' future growth ambitions.

"Leading, managing and structuring up to financial close of this refinancing were completely in our hands and ensured a very efficient process," Dr Christoph Husmann, CFO of Encavis AG, underlined the advantages of an incorporated Project Finance team and added, "we are glad to have placed the refinancing in the bank market at very reputable institutions following a broad and competitive selection process amongst the approached institutions."

The total amount of the Facility Agreement of EUR 88.0 million consists of a Term Loan Facility (EUR 81.4 million), a Debt Service Reserve Facility (DSRF of EUR 6.1 million) and a Letter of Credit Facility (EUR 0.5 million).

About ENCAVIS: Encavis AG (Prime Standard; ISIN: DE0006095003 / ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the SDAX of Deutsche B?rse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates solar parks and (onshore) wind farms in ten 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 2.9 gigawatts (GW), which corresponds to a total saving of 1.31 million tonnes of CO2 per year. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. 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 "AA" and ISS ESG with their "Prime" label.

Additional information can be found on www.encavis.com

Contact:ENCAVIS AG J?rg Peters Head of Corporate Communications & IR Tel.: + 49 (0)40 37 85 62 242 E-Mail: joerg.peters@encavis.com

http://www.encavis.com Twitter: https://twitter.com/encavis

01.10.2021 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: ENCAVIS AG Gro?e Elbstra?e 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: 1237565 ? End of News DGAP News Service

1237565??01.10.2021?

@ dgap.de