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DGAP-News: Blue Elephant Energy AG
/ Key word(s): Alliance/Agreement
25.03.2021 / 08:00
The issuer is solely responsible for the content of this announcement.
25.03.2021
Blue Elephant Energy AG (BEE), a Hamburg-based independent operator of solar and wind power plants and Green Future S.r.l. ("Green Futures"), a Sicily-based technical planning and project development company for solar power plants, have entered into a joint development agreement for a portfolio of 119 MWp of solar capacity, which is expected to reach ready-to-build status by the end of 2022.
The portfolio includes six solar projects in the region of Sicily in Italy, which is characterized by both high solar irradiance and higher electricity price levels than mainland Italy.
The portfolio will contribute to a reduction of global CO2 emissions by approximately 87,000 tons and will account for the annual electricity consumption of 78,000 households once completed.
"We are pleased to expand our portfolio in the growth market of Italy with this project development. Some of the landowners are already partners from our existing facilities. Due to very competitive project development costs in combination with a particularly attractive PPA market and electricity price environment, we will be able to expand our existing portfolio at very attractive conditions. At the same time, these projects will allow us to further contribute to a more sustainable and cleaner energy supply," comments Tim Kallas, Chief Investment Officer of Blue Elephant Energy AG.
About Blue Elephant Energy AG:
Blue Elephant Energy AG (BEE) acquires and operates Solar Parks and Wind Farms in eight countries with a focus on Western-Europe. Founded in 2016, BEE has been built up a renewable energy portfolio of 1,104 MW, part of which is under construction. BEE's renewable energy assets contribute to a sustainable energy supply by saving 1.02 million tons of CO2 annually and providing 755,000 households with clean energy. As part of its ESG strategy BEE directly contributes to social projects on a local level, particularly in Chile and in the Dominican Republic. BEE has secured additional 591 MW Solar Park capacity in the context of co-development agreements with a limited range of developers. With equity provided by BEE's shareholders and participation rights capital provided by medium sized insurance companies, BEE has been able to invest above EUR 1.2 billion since inception.
About Green Future:
The Green Future is a successful provider for the planning, construction and maintenance of utility-scale solar power and wind power plants, for over 10 years. In particular, Green Future is focused on the region of Sicily and has already supported a large number of solar and wind power plants in the development, planning, construction and operation; execute infrastructure planning for public and private customer; created environmental studies, landscape planning and technical planning concepts and designed restoration measures on compensation areas for solar and wind power plants.
Contact:
Blue Elephant Energy AG
Karen Westphal
Jungfernstieg 51
20354 Hamburg
Fon: +49 40 320 27 21 0
Fax: +49 40 320 27 21 02
E-Mail: IR@blueelephantenergy.com
25.03.2021 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.
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