7C Solarparken AG: secures project rights for ca. 100 MWp

Bayreuth (pta/11.10.2022/08:00) -

Bayreuth, 11 October 2022 Earlier this year, 7C Solarparken signed a Letter of Intent with a German project developer, sitting on a 400 MWp pipeline of large freefield sites, to transfer potential rights on advanced PV projects to new companies controlled by 7C Solarparken. The first two projects have now been secured. Management estimates that both projects could enter construction in the course of 2023 and as a result represent a substantial part of their Plan to reach 525 MWp by 2025 compared to 366 MWp at present.

Description of projects

• 16 MWp in the district Görlitz (Saxony): a ground-mounted PV project on conversion land. Land rights, grid connection and the official request to change the zoning plan have been achieved so far. The final approval to the new zoning plan is foreseen for Q2'23 so that shortly thereafter the construction can start.
• 80 MWp in the district Vorpommern-Greifswald (Mecklenburg Vorpommern): a ground-mounted PV project on an obsolete military site is planned. Also for this project, similar steps as in Görlitz have been reached. It is however still not decided whether the project will be connected to the 380 kV line or whether two new substations for the 110 kV grid will be constructed. The final building permit is scheduled for Q3'23 with grid connection one year later.

New tenders

German government recently announced their decision to include projects up to 100 MWp in the auction process. Given the advanced status of the projects, they are legally entitled to take part in the tender.

Steven De Proost, CEO of 7C Solarparken, comments: "We welcome the entry of two large projects into our pipeline. Firstly, our company has reached a critical size as to construct and finance large-scale projects of almost 100 MWp even on the basis of 100% equity. Secondly, we believe that – amid the current energy crisis – the need for larger projects has become unavoidable. Thirdly, the transaction with the project developer has ensured that alternative projects can replace the existing projects in case the final permit would not be reached. Given the lead time of 9-12 months before construction start, we are starting up discussions already with suppliers of components."

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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, Free Market in Dusseldorf, Free Market in Hamburg, Free Market in Munich, Free Market in Stuttgart, Open Market in Tradegate
Other Stock Exchanges:	London