7C Solarparken AG: Further expansion of IPP Portfolio

Bayreuth (pta014/09.08.2023/13:06 UTC+2)

Bayreuth, 09.08.2023 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces a further expansion of its IPP portfolio. In Belgium, two new projects have been completed including a first ground-mounted installation. In Ieper, the group constructed a solar asset with a capacity of 0.6 MWp on industrial land supplying power to the adjacent building owned by Xeikon Prepress. Furthermore, a new rooftop plant with a capacity of 1.2 MWp has been built in Sint-Gillis Waas at the premises of Verberckmoes, a leading furniture distributor, which will off-take the electricity via an on-site PPA. Both installations are equipped with solar panels, which were supplied by Topray Solar.

In Germany, 7C Solarparken acquired a relatively small rooftop installation of 0.7 MWp in Walternienburg (Saxony Anhalt). The solar asset enjoys a feed-in tariff of EUR 226/MWh as it was commissioned in 2012. Historically, the installation yields ca. 825 kWh/kWp. As part of the acquisition price, non-recourse financial debt of EUR 0.4 Mio was taken over by the group. Through these new investments, the group's IPP portfolio increases to 448 MWp compared to the year-end objective of 460 MWp.

Building Momentum with more construction sites in August 2023

7C Solarparken also report today it has started construction of assets totalling ca. 7 MWp on various locations: a ground-mounted extension of an existing asset in Dessau (Saxony Anhalt) in Germany; and three rooftop installations in Moeskroen, Antwerpen and Herentals in Belgium.

Steven De Proost, CEO of 7C Solarparken, comments: "We are currently building up momentum in our own portfolio growth, but we observe that smaller developers are increasingly facing financial difficulties due to (1) rising interest rates and (2) complexity to sign long-term PPA's at attractive levels, as a result they are on the lookout for financially solid partners. Although we are convinced to "at least" reach our capacity target for 2023, we continue to explore further opportunities."

(end)

Emitter:	7C Solarparken AG An der Feuerwache 15 95445 Bayreuth Germany
Contact Person:	Koen Boriau
Phone:	+49 921 230557-77
E-Mail:	info@solarparken.com
Website:	www.solarparken.com
ISIN(s):	DE000A11QW68 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate
Other Stock Exchanges:	London