ENCAVIS AG Celebrates Achievements and Sets New Goals for the Future

ENCAVIS AG, a leading operator of wind and solar parks based in Hamburg, successfully surpassed its financial guidance for the year 2023, marking another milestone in its growth journey. Despite facing weaker meteorological conditions in the first half of the year, the company managed to increase its energy production to approximately 3,354 gigawatt hours (GWh), reflecting a 7% rise compared to the previous year. Furthermore, ENCAVIS AG outdid its own target by successfully acquiring projects and project rights for around 550 megawatts (MW) of generation capacity, expected to produce 1,000 GWh of electricity annually.

While the company’s financial key figures for 2023 outpaced the guidance, they were, except for operating cash flow, still below the extraordinarily high numbers from the exceptional financial year of 2022. Operating net revenue landed at EUR 449.1 million, slightly below the previous year but exceeding the expectations set at more than EUR 440 million. Despite lower electricity prices and standard weather patterns having an impact on revenue, robust growth strategies including acquisitions and the full consolidation of the Stern Sub-Group partially offset these effects.

Looking ahead, ENCAVIS AG is focused on maintaining its growth trajectory in line with the “Accelerated Growth Strategy 2027,” despite anticipating only a moderate overall increase in their key performance indicators (KPIs) for the 2024 financial year due to reduced electricity price levels. The company aims to counterbalance this through additional revenue streams and expanded capacities. ENCAVIS also announced a strategic partnership with Blitz 21-823 AG (“BidCo”), controlled by KKR and other notable investors, to support long-term growth and strengthen its market position.