7C Solarparken AG: ENTERS IN NEW ELECTRICITY PRICE SWAP AGREEMENT FOR 2024

Bayreuth (pta017/16.10.2023/12:11 UTC+2)

7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has fixed its capture price for the financial year 2024 on a major part of its portfolio, totaling 110 MWp, at a price level of EUR 106/MWh. To that end, the group closed an electricity price swap agreement with a large pan-European utilities company for the second time. Under the existing agreement, closed during the energy crisis in H1'22, 7C Solarparken agreed to swap 93 MWp with an average feed-in tariff of EUR 58/MWH at a capture price of EUR 149.5/MWh from June 2022 until December 2023. Under the new contract, starting January 2024 and ending December 2024, an additional 17 MWp is included. The economics of the new contract are similar to the existing arrangement; when the PV market price during a month will be above/below the fixed price of EUR 106/MWh, 7C Solarparken will pay/receive the difference. The PV market prices have ranged between EUR 50-75/MWh within the recent months. As always, Management is looking at possibilities to take advantage of further energy price increases, e.g. due to geopolitical instability, either to close a price swap agreement for further projects or to secure a capture price for the financial year 2025 as well.

Growth in Belgium to 53 MWP IPP Portfolio

Over the last weeks and months 7C Solarparken has rapidly advanced its IPP Portfolio in Belgium through a series of (larger) new-build projects which are now finished. The portfolio of Belgian parks currently totals 53 MWp. Following rooftop projects have been executed with on-site PPA agreements recently:

* 0.9 MWp in Herentals

* 0.4 MWp in Antwerpen

* 0.6 MWp in Antwerpen

* 1.5 MWp in Ieper

* 2.8 MWp in Moeskroen

* 0.1 MWp in Kuurne

* 0.5 MWp in Waregem

* 0.8 MWp in Lier

As a result of the execution of these projects, the group has achieved its 2023 year-end target of 460 MWp already today.
Last week, the group also started the construction of two further Belgian projects: a 1 MWp site in Auvelais and a 0.6 MWp project in Sleidinge.

Steven De Proost, CEO of 7C Solarparken, comments: "At the time of publication of annual results 2022 and guidance 2023, we also raised our 2024 outlook CFPS target from EUR 0.60 to EUR 0.65 (slide 54 of the annual result presentation). The increased outlook for 2024 assumed an operational capacity of 460 MWp during 2024 and a PV market price of EUR 98/MWh. The newly signed swap agreement and the recent development achievements in Belgium make us feel confident about adhering to our 2024 outlook."

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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