EQS-News: ENCAVIS AG: Schouw & Co. and ENCAVIS sign a long-term Power Purchase Agreement (PPA) for the European business operations of Schouw & Co.

Corporate News


Schouw & Co. and ENCAVIS sign a long-term Power Purchase Agreement (PPA) for the European business operations of Schouw & Co.


Hamburg/Aarhus, 30 October 2024 – Aarhus-based Schouw & Co., listed on Nasdaq Copenhagen, and Hamburg-based wind and solar park operator Encavis AG, listed on the SDAX of Deutsche Börse AG ((Prime Standard, OTC:ENCVF, ticker symbol: ECV)) signed a 10-year Power Purchase Agreement (PPA). This is Schouw & Co.'s first PPA in Europe.

Schouw & Co. is an industrial business conglomerate headquartered in Aarhus, Denmark, that makes long-term investments in leading businesses, performing active and developing ownership in the portfolio businesses. The portfolio consists of six industrial businesses: BioMar, GPV, HydraSpecma, Borg Automotive, Fibertex Personal Care and Fibertex Nonwovens. Schouw & Co. operate in several European countries, including two production sites in Spain.

Schouw & Co. will receive green eletricity from Encavis' 55 megawatt (MW) solar park Fundici, which is located in Guillena (Andalucia), a city close to Seville. The PPA is expected to start in H1 2025. Under the PPA, Schouw & Co. will receive a volume of around 88 gigawatt hours (GWh) of electricity per year produced by ENCAVIS (880 GWh over 10 years), which corresponds to more than 40% of the electricity consumption of Schouw & Co.'s businesses in Europe.

'In Schouw & Co., we are committed to decarbonization and have ambitious long-term CO₂ reduction targets, and the PPA with ENCAVIS is a significant step in reducing the emissions from purchased electricity. As a long-term owner, we focus on responsible development and transformation of all businesses in our portfolio, and this also includes lowering both direct and indirect emissions,' says Jens Bjerg Sørensen, CEO of Schouw & Co.

'We are very pleased to have entered into this PPA with Schouw & Co., a renowned company. The cooperation demonstrates that Spain is one of the most important PPA markets in Europe,' said Mario Schirru, CIO/COO of Encavis AG, welcoming the conclusion of the joint agreement. 'With 500 MW operational and additional 317 MW under construction we have a strong market presence in Spain, which we will further expand, and a significant pipeline for many more PPAs to come.'

Just two and a half months ago Encavis had acquired a further solar park in Andalucia. The Almodóvar solar park with ~95 megawatts (MW) generation capacity and 187 gigawatt hours (GWh) annual generation) acquired by BayWa r. e., close to Córdoba, is already under construction and is expected to be connected to the grid in Q4/2025.


About Schouw:
Schouw & Co. was founded in 1878 and has since 1954 been listed on the Copenhagen Stock Exchange (Nasdaq Copenhagen). Schouw & Co. is an industrial conglomerate with a long-term investment horizon, enabling growth through transformation, building the companies of tomorrow by putting people first. Schouw & Co. invests in Danish industrial businesses-to business with an international perspective and business models and potential that can contribute to creating value for society and shareholders. The portfolio businesses are run as independent sub-groups within their own segment. At Schouw & Co., there is a continuous dedication and commitment to efforts within environmental, social and governance matters, and within this, one of the principles is guided by responsible and efficient production, targeting a transition toward 100% renewable electricity.

The portfolio of Schouw & Co. consists of: BioMar, a global leading manufacturer of high-quality feed for the fish and shrimp farming industries, GPV, a leading EMS provider specializing in electronics, mechanics, cable harnessing and mechatronics, HydraSpecma, experts in hydraulic solutions and components, Borg Automotive, one of Europe's largest independent automotive remanufacturing companies, servicing distributors and original equipment manufacturers, Fibertex Personal Care, a producer of spunmelt nonwovens for personal hygiene products and Fibertex Nonwovens, a manufacturer of specialised nonwovens for a variety of industrial and consumer applications.

Additional information can be found at www.schouw.dk/en

Contact:
Schouw & Co.
Kasper Okkels
VP Business Development, Strategy & IR
Tel.: + 45 61 30 02 90
E-mail: kok@schouw.dk


About ENCAVIS:
The Encavis AG ((Prime Standard, OTC:ENCVF, ticker symbol: ECV)) is a producer of electricity from Renewable Energies listed on the SDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve 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 around 3.6 gigawatts (GW), of which around 2.2 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO₂ per year stand-alone for the Encavis AG. In addition, the Group currently has more than 1.2 GW of capacity under construction, of which around 900 MW are own assets.

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

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 their "AA" level and ISS ESG with their "Prime" label (A-), the Carbon Disclosure Project (CDP) with its Climate Score "B" and Sustainalytics with its "low risk" ESG risk rating. 

Additional information can be found at www.encavis.com

Contact:
ENCAVIS AG
Dr. Oliver Prüfer
Press Officer & Manager Public Relations
Tel.: + 49 (0)40 37 85 62 133
E-Mail: oliver.pruefer@encavis.com
http://www.encavis.com