Energiekontor sells Scottish wind park project and raises forecast for 2023 financial year

Bremen, 15 December 2023 – Energiekontor AG (“Energiekontor”), a leading German project developer and operator of wind and solar parks listed in the General Standard, has sold a further Scottish wind park project to Capital Dynamics. As a result of its positive project business, the Bremen-based company is raising its forecast for the 2023 financial year.

Energiekontor has sold the Garbet onshore wind park project, which is located near Dufftown in the northeastern Highlands of Scotland, United Kingdom, to a fund managed by Capital Dynamics, an independent private asset management company with operations around the world. The wind park is expected to reach commercial operation by the end of 2026 and will have a total generation capacity of up to 46 megawatts. Once commissioned, it will benefit from Energiekontor’s long-standing experience in operational management and optimisation support.

In September 2023, Energiekontor already successfully participated with the project in the fifth round of auctions held by the UK Department for Energy Security and Net Zero (DESNZ) for the allocation of a contract for difference (CFD). In this context, the project was awarded an attractive, inflation-linked feed-in tariff from which the wind park will benefit once it goes on stream. Going forward, the same will apply to further Scottish wind park projects of Energiekontor, which were also awarded feed-in tariffs in the same round of auctions.

“We are proud of our long-standing partnership with Capital Dynamics,” says Peter Szabo, CEO of Energiekontor AG. “In recent years, we have already implemented several major infrastructure projects together with Capital Dynamics. Our joint efforts are making an important contribution to achieving climate goals. The Garbet wind park project is another significant milestone in our strong and broad-based alliance.”

“We are pleased to see our long-standing collaboration and strong partnership with Energiekontor deliver the latest attractive, inflation-protected wind investment for Capital Dynamics and its clients,” says Barney Coles, Co-Head of Capital Dynamics Clean Energy. “Once more, we are excited to contribute towards increasing the UK's independence from fossil fuels and help with achieving its goal to reach ‘net zero’ by 2050.”

In view of the positive development of its project business, particularly today’s sale of the Garbet wind park project, Energiekontor is raising the target range for Group EBT for the 2023 financial year. The most recently confirmed forecast was for a 10 to 20 percent year-on-year increase in Group earnings before taxes (EBT) in the 2023 financial year (2022 financial year: 62.9 million euros). Energiekontor currently expects Group EBT of between 80 and 100 million euros in the 2023 financial year. This equates to a rise in Group EBT of around 30 to 60 percent compared to the previous year.

The publication of the business figures for the 2023 financial year is planned for 28 March 2024.
 

About Energiekontor AG

For over 30 years, Energiekontor has stood for a solid business policy and extensive experience in renewable energies. Founded in Bremerhaven, Germany, in 1990, the company is among the pioneers in its industry and is now one of Germany’s leading project developers. Its core business ranges from the planning and construction to the operational management of wind and solar parks in Germany and abroad. In addition, Energiekontor operates 40 wind and solar parks with a nominal power of over 390 megawatts in its own portfolio. Energiekontor also aims to play a pioneering role in economic terms and to realise the first wind and solar parks in all target markets at market prices as quickly as possible, independently of state subsidies.

Along with its headquarters in Bremen, Germany, Energiekontor has offices in Bremerhaven, Hagen im Bremischen, Aachen, Augsburg, Berlin, Berlin-Spandau, Potsdam and Hildesheim. The company also has branch offices in England, Scotland, Portugal, France and the United States.

Since being established, Energiekontor has a proud track record of realising over 150 wind and solar park projects with a total nominal power of more than 1.3 gigawatts. This corresponds to an investment volume of over 1.8 billion euros (figures above as at 31 December 2022).

Energiekontor AG (WKN 531350/ISIN DE0005313506/General Standard) is listed in the SDAX and the TecDAX of the German Stock Exchange in Frankfurt and can be traded on all German stock markets.

Contact

Julia Pschribülla

Head of Investor & Public Relations

Phone: +49 (0)421-3304-126

Email: ir@energiekontor.com

Energiekontor AG
Mary-Somerville-Strasse 5
28359 Bremen (Germany)

Phone: +49 (0)421-3304-0
Fax: +49 (0)421-3304-444
Email: info@energiekontor.de
Web: www.energiekontor.de/en/index.html

About Capital Dynamics

Capital Dynamics is an independent global asset management firm focusing on private assets, including clean energy, private equity (primaries, secondaries and co-investments) and private credit.

Established in 1988, the Firm has extensive knowledge and experience developing solutions tailored to meet the exacting needs of a diverse and global client base of institutional and private wealth investors. Capital Dynamics oversees more than USD 14 billion in assets under management and advisement, and employs approximately 150 professionals globally across 12 offices in Europe, North America, and Asia. Capital Dynamics is a recognized industry leader in responsible investment, receiving high marks from PRI and GRESB for its Investment & Stewardship Policy, and investment strategies.

For more information, please visit: www.capdyn.com.

Contact

Carolin Hirschbiel

Chief Marketing Communications Officer

Linda Carlotta Modenini

Vice President, Marketing and Communications

Email: communication@capdyn.com