Encavis Buys 12MW Battery in Germany

• Encavis AG has announced the purchase of a 12MW/24MWh battery storage project in Hettstedt, Germany. The energy storage system will be integrated into the grid in 2024 and will store electricity from Encavis' renewable power facilities, reducing the cost of balancing energy. Mario Schirru, Encavis' Chief Investment Officer, highlighted the new plant's ability to generate more revenue from their Renewable Energy. First half of 2023 results reported flat revenue and earnings per share.

Encavis AG has announced the purchase of a 12MW/24MWh battery storage project located in Hettstedt, Germany. The energy storage system will be integrated with the grid during the first half of 2024, and will be charged with electricity from the company’s renewable power facilities in the hours of the day with lower electricity prices. The battery will be able to store power from all parks of Encavis in Germany and will help to reduce the costs associated with balancing energy. The company’s Chief Investment Officer Mario Schirru commented that the new plant will allow them to use their Renewable Energy much more flexibly and generate additional revenue. Encavis reported flat revenue and earnings per share for the first half of 2023.

What Benefits Will Encavis' 12MW/24MWh Battery Storage Project Bring?

• Enel will reduce its net debt by EUR 145 million
• Inpex Corp will acquire a 50% stake in Enel Green Power Australia with an enterprise value of EUR 400 million
• Enel Green Power Australia currently operates three solar farms totalling 310 MW and is building around 170 MW of wind and solar parks
• The project will include a 12MW/24MWh battery storage system, providing increased stability and reliability of the energy network
• The battery storage system will allow for increased flexibility of the energy network, increasing the capacity of the renewable energy sources
• This project will also increase energy efficiency, reducing electricity costs and emissions by reducing the amount of energy being wasted