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Acquisition of a wind farm portfolio with a capacity of around 20 MW in Germany

November 14th, 2019

Blue Elephant Energy AG (BEE), the Hamburg-based independent operator of solar and wind farms, acquired an German wind park portfolio with an installed capacity of 22.4 megawatt (MW) on 18 September 2019.

The portfolio consists of 6 wind turbines, which are located in the district of Ludwigslust-Parchim in Mecklenburg-Western Pomerania in the North of Germany. The wind turbines have been in operation since 2016 and 2018 and benefit from feed-in tariffs between EUR 69.7 and EUR 85.8 per megawatt hour (MWh).

BEE expects that the portfolio will contribute more than EUR 4.3 million to the group's annual revenues and will save about 72,840 tons of CO2 emissions annually.

The seller of the portfolio is the energy park developer UKA (UKA). This is already the second transaction between UKA and BEE. Stefan Kath, responsible for sales at UKA, says: "We already got to know BEE last year as a reliable and strong partner and we are pleased about the successful transaction."

With the acquisition of the wind farm BEE expand its German portfolio from 129 MW to 149 MW.

"UKA and BEE both are experienced companies in the field of renewable energies and have helped to drive the energy transition in Germany. The acquisition of the wind farm is another step in the close cooperation of the companies." Says Tim Kallas, Chief Investment Officer of BEE.

Blue Elephant Energy AG acquires and operates solar farms and wind farms as well as other infrastructure projects in the field of renewable energies. BEE´s aim is to build up a high-class portfolio of renewable energy assets to contribute its share towards a bigger renewable energy supply and to provide its shareholders with attractive returns. BEE invests in sustainable projects that generate long term predictable cash flows. BEE partners in particular with project developers who value BEE's reliability and dynamic approach and are looking for repeat business. With equity and equity-like funds provided and committed by BEE's shareholders and Gothaer insurance group, approx. EUR 315 million are available to expand the portfolio, of which EUR 236 million are already invested. Via the use of project financings at project level, an investment volume of up to EUR 1.1 billion can be realized. BEE is investing in politically stable regions and acquires ready-to-build or operating solar farms and wind farms.

Sale of a solar park portfolio with a capacity of around 47 MW in United Kingdom

November 5th, 2019

Blue Elephant Energy AG (BEE), a Hamburg-based independent operator of solar and wind farms, sold its United Kingdom (UK) solar park portfolio with an installed capacity of 47,56 megawatt (MW) to the London-based investor Elm Trading Group, advised by Alpha Real Renewables at very favorable terms.

The portfolio was financed with Bayerische Landesbank and consists of nine operational solar parks that were commissioned between December 2015 and March 2017. The solar parks are located in the regions of South Wales (Wales), Somerset (England) and West Sussex (England). In 2018, the projects contributed EUR 1.2 million to the operating result. Sales in the same year amounted to EUR 5.9 million.

With the sale of its UK portfolio, BEE withdrew its entire operations from the UK. The sale price achieved leads to a significant profit according to IFRS and under the German Commercial Code (HGB) and confirms that BEE's active portfolio management approach increases value of the existing portfolio. The released cash will be invested in attractive opportunities currently available to BEE. In addition, the company is no longer exposed to the ongoing Brexit discussions and eliminates GBP/EUR currency risk.

"With the sale of the UK portfolio, which is just under three years old, we are demonstrating that we are in a position to invest in high-quality renewable assets that also stand up to external due diligence and have substantial hidden reserves that will be released if they are sold", comments Tim Kallas, Chief Investment Officer of Blue Elephant Energy AG.

Blue Elephant Energy AG acquires and operates solar farms and wind farms as well as other infrastructure projects in the field of renewable energies. BEE´s aim is to build up a high-class portfolio of renewable energy assets to contribute its share towards a bigger renewable energy supply and to provide its shareholders with attractive returns. BEE invests in sustainable projects that generate long term predictable cash flows. BEE partners in particular with project developers who value BEE's reliability and dynamic approach and are looking for repeat business. With equity and equity-like funds provided and committed by BEE's shareholders and Gothaer insurance group, approx. EUR 315 million are available to expand the portfolio, of which EUR 236 million are already invested. Via the use of project financings at project level, an investment volume of up to EUR 1.1 billion can be realized. BEE is investing in politically stable regions and acquires ready-to-build or operating solar farms and wind farms.

Acquisition of a solar park portfolio with a capacity of around 26 MW in Italy

July 3rd, 2019

Blue Elephant Energy AG (BEE), the Hamburg-based independent operator of solar and wind farms, acquired an Italian solar park portfolio ("Project Apricus") with an installed capacity of 26 megawatt (MW) on 03 July 2019.

The portfolio consists of 7 solar parks, which are located in Central and Southern Italy. The solar parks are operational since 2011 and 2012 and benefit from feed-in tariffs between EUR 0.108 and EUR 0.259 per kilowatt hour (kWh).

BEE expects that the portfolio will contribute more than EUR 6.5 million to the group's annual revenues and will save about 18,500 tons of CO2 emissions annually.

With the acquisition of the Apricus portfolio, BEE expands its Italian footprint from 42 MW to 68 MW. As a result, the total installed capacity of BEE's solar and wind farm portfolio increases to 508 MW.
Blue Elephant Energy AG acquires and operates solar and wind parks as well as other infrastructure projects in the field of renewable energies. BEE´s aim is to build up a high-class portfolio of renewable energy assets to contribute its share towards a bigger renewable energy supply and to provide its shareholders with attractive returns. BEE invests in sustainable projects that generate long term predictable cash flows. BEE partners in particular with project developers who value BEE's reliability and dynamic approach and are looking for repeat business. With equity and equity-like funds provided and committed by BEE's shareholders and Gothaer insurance group, more than EUR 300 million are available to expand the portfolio. Via the use of project financings at project level, an investment volume of up to EUR 1.1 billion can be realized. BEE is investing in politically stable regions and acquires ready-to-build or operating solar and wind farms.

Acquisition of a wind farm in Rheinland-Pfalz

February 28th, 2018

Blue Elephant Energy AG (BEE), the Hamburg-based independent operator of solar and wind farms, acquired a German wind farm located in Rheinland-Pfalz on 28 February 2018.

The wind farm with a total capacity of 9.23 MW consists of 3 Vestas V112 wind turbines of 3.0 MW each. The wind farm is operational since 2014 and benefits from an EEG feed-in-tariff in the amount of 9.0 EUR cent per kilowatt-hour (kWh).

With the acquisition of the wind farm BEE expands its portfolio to 60 MW in Germany and to 252 MW worldwide.

Blue Elephant Energy AG acquires and operates solar and wind parks as well as other infrastructure projects in the field of renewable energies. BEE´s aim is to build up a high-class portfolio of renewable energy assets to contribute its share towards a bigger renewable energy supply and to provide its shareholders with attractive returns. BEE invests in sustainable projects that generate long term predictable cash flows. BEE partners in particular with project developers who value BEE's reliability and dynamic approach and are looking for repeat business. With equity and equity-like funds provided and committed by BEE's shareholders and Gothaer insurance group, more than EUR 300 million are available to expand the portfolio. Via the use of project financings at project level, an investment volume of up to EUR 1.1 billion can be realized. BEE is investing in politically stable regions and acquires ready-to-build or operating solar and wind farms.

Acquisition of a solar park portfolio with a capacity of around 22 MW in Italy

February 5th, 2018

Blue Elephant Energy AG (BEE), the Hamburg-based independent operator of solar and wind farms, acquired an Italian solar park portfolio with an installed capacity of 22 megawatt (MW) on 25 January 2018.

The portfolio consists of 15 solar parks, which are located within a 50-km radius in the regions Abruzzo and Marche in the Center of Italy. The solar parks have been in operation since 2011 and benefit from feed-in tariffs with EUR 0.291 to EUR 0.346 per kilowatt hour (kWh).

BEE expects that the portfolio will contribute more than EUR 10 million to the group's annual revenues from 2018 onwards.

The seller of the portfolio is VIRIDIS Energia Srl (VIRIDIS), headquartered in Milan, Italy, an Independent Power Producer (IPP) with an established track record of more than 110 MW in the development, acquisition, revamping and management of renewable energy plants. VIRIDIS is an industrial player highly focused on the photovoltaic small and mid-market consolidation process.

"Consistently with our industrial strategy we successfully completed this first portfolio sale and a second one, already under management, will be marketed within 2019 to institutional investors. These sales generate additional resources to boost our green investments pipeline (>250 MW), mainly targeting the domestic renewable energies market in the coming years. We are glad that our first portfolio has been acquired by BEE that is an experienced investor and a reliable partner with whom we want to further enlarge our collaboration in the future", says Paolo Pesaresi, Chairman of the Board of VIRIDIS.

Banca IMI acted as financial advisor to VIRIDIS for the disposal of the solar assets.

With the acquisition of the VIRIDIS portfolio, BEE expands its Italian footprint from 20 MW to 42 MW. As a result, the total installed capacity of BEE's solar and wind farm portfolio increases to more than 240 MW.

"The acquired portfolio fits well into our investment strategy and we are looking forward to deepening our partnership with VIRIDIS in the future as we value their professionalism", says Tim Kallas, Chief Investment Officer (CIO) of Blue Elephant Energy AG.

Blue Elephant Energy AG acquires and operates solar and wind parks as well as other infrastructure projects in the field of renewable energies. BEE´s aim is to build up a high class portfolio of renewable energy assets to contribute its share towards a bigger renewable energy supply and to provide its shareholders with attractive returns. BEE invests in sustainable projects that generate long term predictable cash flows. BEE partners in particular with project developers who value BEE's reliability and dynamic approach and are looking for repeat business. With equity and equity-like funds provided and committed by BEE's shareholders and Gothaer insurance group, more than EUR 300 million are available to expand the portfolio. Via the use of project financings at the project level, an investment volume of up to EUR 1.1 billion can be realized. BEE is investing in politically stable regions and acquires ready-to-build or operating solar and wind farms.