The international law firm Taylor Wessing has provided comprehensive legal advice to Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG ("Encavis") on the acquisition of a ready-to-build (RTB) battery project (12 megawatts respectively 24 megawatt hours).
The Battery Energy Storage System (BESS) in Hettstedt (Saxony-Anhalt) is based on lithium-ion technology and is scheduled to be connected to the grid in the first half of 2024.
The BESS is charged during the hours of the day of lower electricity prices and discharged during high-price hours by participating in the day-ahead and intra-day market. This mechanism optimises the capture rate of the existing wind and solar park portfolio. In addition, this approach smoothes the typical generation fluctuations within Renewable Energies and reduces the associated balancing energy costs. Regardless of location, the battery can store amounts of electricity from all Encavis Group parks in Germany and discharge them at another time.
About Encavis AG:
The Encavis AG is a producer of electricity from Renewable Energies listed on the MDAX 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 more than 3.5 gigawatts (GW), of which more than 2.1 GW belongs 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 around 1 GW of capacity under construction, of which over 600 MW is in its own portfolio.
Legal advisors Encavis AG
Taylor Wessing Germany: Dr Markus Böhme, LL.M.
, Dr Christian Ertel
, (both Energy Law), Dr Julia Wulff
(Public Law / Energy), Carsten Bartholl
, Jasmin Schlee
(both Corporate Energy / M&A), Dr Janina Pochhammer
, Dr Niels Lasse Lange, LL.M.
(both Plant Construction / EPC contract)
Ariane Tesdorpf (both Legal Inhouse), Dr Constantin Lentz (Legal Inhouse), Marco Bertazzi, Quirin Busse (both Investment Management)