29.12.2020 - Acquisition of EnerVest Belgium and increase in IPP Portfolio to 256 MWp

Bayreuth - 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces an investment in three solar assets across Germany for a total volume of 17 MWp. Firstly a combined installation of trackers and fixed tilt with 0.7 MWp capacity on a former military site in Morbach, enjoying an average feed-in tariff of EUR 342/MWh. The second and third project have just been commissioned by IBC Solar in the municipalities of Dennheritz (10 MWp) and Burgwindheim (6 MWp) with a respective tariff of EUR 72/MWh and EUR 57/MWh. Modules were sourced from Jinko Solar and URE Solar (formerly Neo Solar Power). All deals were financed for 100% through equity totalling an amount of EUR 15.8 Mio. Annual revenues will likely exceed EUR 1.3 Mio. Through these new investments, 7C Solarparken now holds an IPP portfolio of 256 MWp, versus its initial target of 220 MWp for the end of this year. The group has set its IPP objective for 2021 at 295 MWp.

Acquisition of EnerVest Belgium
7C Solarparken plans to build up a 50 MWp portfolio in Belgium by 2023 as part of its strategic plan. To this end, the group has reached an agreement with the German wind operator EnerVest AG to acquire its Belgian renewable energy subsidiary. EnerVest Belgium is ranked as one of the pioneers in the Belgian PV market and is exclusively focusing on project development and asset management of PV parks. The company is based in Ghent and will be fully integrated into 7C Solarparken, acting as its platform to realise the group's Belgian PV ambitions. EnerVest Belgium has sound credentials in the sector, but more importantly, it has a solid pipeline which will be realised in the next 12 months. The first projects on roofs of two well-known multinational corporates will soon enter construction. The company also aims to grow strongly by including PV carports, e-bike ports and mobile solar parks in its PV package

Steven De Proost, CEO of 7C Solarparken AG, comments: "We look back to a great year 2020 during which we have achieved and even exceeded all internal targets. We close the year with a portfolio of 256 MWp compared to our forecast of 220 MWp. The acquisition of EnerVest Belgium will accelerate our breakthrough in Belgium so that we look with confidence to growing the overall portfolio to 295 MWp during 2021."

7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 256 MWp, including 6 MW onshore wind. Including, its asset management activities, the group's managed portfolio stands at 331 MWp. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

Contact:
7C Solarparken AG
Koen Boriau
Vorstand
An der Feuerwache 15
95445 Bayreuth
Deutschland
FON: +49 (0)921 230557-77
FAX: +49 (0)921 230557 79
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