NEWS

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•  26.11.2024 7C Solarparken AG: 9M'24 EBITDA decrease to EUR 44m, but cashflows over Q3'24 are a sign for optimism
  

  Bayreuth (pta011/26.11.2024/08:00 UTC+1)

  Bayreuth-based solar park operator 7C Solarparken AG (WKN: A11QW6 / ISIN: DE000A11QW68) announced nine-months results. EBITDA fell by 21% to EUR 44M compared to the first nine months of 2023, during which electricity prices remained at a high level in the aftermath of the Ukraine crisis. The average PV market price fell from EUR 73/MWh in the comparable period to EUR 43/MWh in the first nine months of 2024 on the back of record levels of negative prices. Furthermore, weather conditions also adversely impacted the results, as the nationwide specific yield for all German PV installations was 8% lower than the long-term average. The group noticed an even sharper fall in specific yield amounting to 770 kWh/kWp in the first nine months, mainly resulting from curtailments due to Re-Dispatch and negative prices.  Aside from negative effects because of low electricity prices and poor irradiation, the group also incurred an impairment loss of EUR 5.4M on a loan receivable related to the 20 MWp project “Reuden Süd” during Q2’24 as the result of a contractual breach by the developer and seller.  

  Despite this overall negative market context, the group was able to raise its capture price from EUR 158/MWh in Q2’24 to EUR 170/MWh in Q3’24. The reasons are twofold: i) the profile of the contracted swap agreements in Germany and ii) a roll-out of active curtailment management scheme in Belgium. The market approach the group is taking is reflected by these two trading strategies, which work particularly well in an environment of low or even negative electricity prices. During Q3’24, the majority of EBITDA ultimately reinforced the group’s balance sheet with net debt falling to EUR 111M (versus EUR 133M at the end of FY’23 and versus EUR 128M at the end of Q2’24).

  OPERATIONAL NEWSFLOW

  • IPP Portfolio rising to 468 MWp including the recently started projects in construction of 23 MWp. Construction of these installations across Bavaria is on-track to see their first power at the end of Q1’25.
  • Management has used the recent rally in power prices to secure multiple electricity price swaps agreements for the financial year 2025. Thereby nearly all solar assets with negative price exposure have been hedged. New swap agreement include: i) a three-years electricity price swap at EUR 56/MWh for a volume of 22 MWp and ii) an option agreement encompassing almost 30 MWp capping our capture price at EUR 75/MWh for the year 2025 in exchange for a lump sum payment to the group

   Steven De Proost, CEO of 7C Solarparken AG, comments: “Evidently, we cannot be euphoric with the reported EBITDA, especially when comparing it to the same period last year. Nonetheless, the slump in EBITDA is almost entirely caused by the one-off impairment on the receivable for Reuden Süd. We are currently pursuing all legal avenues to recover parts of the lost funds. Furthermore, we still see some chance to find solutions to bring the project to grid connection by the end of 2025 in case of full cooperation of all other stakeholders. Our operating strategy remains unchanged: i) cash flow protection is the main focus, which is operationalized by amongst other concluding swaps and improving technical performance and ii) growth when the risk reward ratio is right. Our overall financial aim is to return to normal EBITDA-levels as from 2025 and we reiterate our intention to initiate a new share buy-back program once the expiring promissory note (EUR 21M in Q1’25) is repaid or refinanced”.

•  23.09.2024 7C Solarparken AG: H1'24 Results, as expected, below last year but no reason to revise guidance further down 

  Bayreuth (pta039/23.09.2024/21:00 UTC+2)

  7C Solarparken group (WKN: A11QW6 / ISIN: DE000A11QW68) announces that group EBITDA for the first half 2024 is substantially below the comparative period last year due to unfavorable weather conditions, downward pressure on the power price and above all, a one-off impairment on a receivable related to the 20 MWp project Reuden Süd (nearby Bitterfeld). EBITDA fell from EUR 33.0 Mio in H1'23 to EUR 23.2 Mio in H1'24. Excluding the aforementioned one-off impairment and adjusting for weather conditions, EBITDA would have exceeded the initial guidance for the year, which can be viewed as remarkable given the downturn of power prices and the increasing level of negative prices. Anticipating a potential decline in power prices, management already started to explore different routes-to-market as from 2022 by adding power price swaps as an instrument for hedging the income of the IPP portfolio. Aside from power price swaps, which can lead to even increased returns during lower or negative prices, the company benefits from a strong positioning with 70% of revenues stemming from fixed feed-in tariffs, unrelated to negative prices. Furthermore, those solar assets subject to negative prices, benefit from the company increasingly transitioning away from selling on the day-ahead markets into intraday balancing schemes. CFPS over the first half 2024 fell, in line with EBITDA, to EUR 0.21/share. Adjusting for weather and for the one-time non-cash impairment, CFPS would have come in at EUR 0.29/share. In spite of this one-time impairment, the group's balance sheet remains strong with an equity ratio of 44% and a net debt position of EUR 128 Mio. The company's book value remained almost unchanged at EUR 2.70/share.

  OUTLOOK

  During the last months, management closed a new series of value-creative swaps for a median price of EUR 72/MWh throughout 2025 (underlying tariffs < EUR 60/MWh). Furthermore, the group's energy management & curtailment strategy has started bearing its first fruits and will – together with the fixed tariffs enjoyed by the majority of assets in the IPP portfolio– counter increasing pressure from negative prices. In the current context of lower power prices, management has decided to announce a new Focus Plan 2024-25 that is based on four pillars: (i) Protection of existing cash flows through re-financing, re-furbishment and energy management, (ii) from Selective growth to opportunistic growth, i.e. giving up the 500 MWp growth target, (iii) considering options to recover value from Reuden Süd, and (iv) increasing focus on share buy-backs.

  For 2025, management assumes a return to normal financial metrics with EBITDA of EUR 54 Mio and CFPS of 0.54/share. Upon redemption of the Schuldschein in Q1'25, the group's free cash flow generation is expected to increase substantially over time leading to EUR 50 Mio excess liquidity by 2027. In the absence of sufficient return on new-build projects, share buy backs will come highest on the agenda.

  Steven De Proost, CEO of 7C Solarparken AG comments:

  "Everyone is currently talking about negative prices, but we have acted already long beforehand. We mainly benefit from fixed feed-in tariffs and have secured swaps. Now we even turn negative prices into a profit center through selling power at different market segments. We therefore want a full focus on our existing parks, rather than chasing the 500 MWp level. Growth will of course still be possible, when high returns on the project itself (rather than on the market in general) are secured. We look forward to demonstrate to the market that we will pick up with historical profitability again, even in difficult times."

  "Lastly, we want to express our profound sadness on the passing of our long standing Supervisory Board member Paul De fauw. We wish our heartfelt condolences to his family, his loved ones and all who were close to him."

  The complete half yearly results will be published on our website tomorrow in the following section: https://www.solarparken.com/en/publikationen.php

•  28.05.2024 Q1’24 EBITDA down to EUR 7.0 Mio due to bad weather and sluggish power prices

  Bayreuth (pta043/27.05.24/18:18 UTC+2)

  Bayreuth, May 28^th, 2024 7C Solarparken (WKN: A11QW6, ISIN: DE 000A11QW68) publishes its Q1’24 figures today, which were driven by three main factors:

  • Strong capacity growth: the weighted operating capacity has increased by 6% from 397 MWp in Q1’23 to 421 MWp in Q1’24.
  • Weather conditions: although Q1’24 was characterized by poor irradiation overall, the specific yield rose by almost 4% to 133 kWh/kWp, as the irradiation in Q1’23 was worse still.
  • Sluggish power prices: a sharp decline in PV power price from EUR 105/MWh in Q1’23 to EUR 57/MWh in Q1’24 could be observed. The Group, however, was able to mitigate the effect on its capture price as i) a large part of the IPP Portfolio is still enjoying higher fixed feed-in tariffs, and ii) capacity of ca. 132 MWp is covered by a swap agreement ensuring a final price of EUR 106/MWH (110 MWp) resp. EUR 89/MWh (22 MWp).

  Group EBITDA fell from EUR 8.9 million in Q1’23 to EUR 7.0 million in Q1’24, which is higher than the implicit Q1 outlook of EUR 6.4 million included in the full year guidance as elaborated in the annual results’ presentation. The EBITDA reported over Q1’23, however, included EUR 1.7 million of other operating income resulting amongst other one-off effects from the recovery of curtailments in 2022 (Re-Dispatch 2.0). Net debt came in at EUR 138.8 Mio, down from EUR 153.0 Mio at year-end 2023. The Group’s Balance sheet remains very healthy boasting an Equity Ratio of 44.5%.

  Outlook remains unchanged (so far)

  Amid continued adverse weather conditions and record prevalence of negative prices throughout the months of April and May 2024, Management keeps the outlook unchanged. It should be noted that this means, Management is implicitly assuming an improvement in irradiation and power prices as to maintain its “at least EUR 57 Mio EBITDA” guidance. Forward power prices for 2025 have increased by ca. EUR 20/MWh in recent weeks, whereas power demand shows early signs of recovery. The operational and strategic agenda remains unchanged and is progressing in line with expectations. Two projects have been refurbished already, construction is about to start on a series of new-build projects in Bayern, and re-powering in Demmin and Neuhaus-Stetten is being prepared. Furthermore, 7C Solarparken is currently strengthening its business model as to secure additional and more attractive routes to sell its power production.

  Steven De Proost, CEO of 7C Solarparken AG, comments: “The current market conditions are mainly the result of lower electricity consumption reflecting EU recommendation to reduce energy use considering the Ukraine war. We can still observe a 10% lower demand for power compared to pre-Ukraine situation. At the same time, PV capacity is continuously being added to the market causing power prices to fall. It is however our conviction that this is but a temporary effect since electrification (from heat/transport into electricity), hydrogen via electrolysers and e-Mobility remain cornerstones of the energy transition. The recent increase in forward power prices confirms our view and makes us confident still that we can meet our EBITDA guidance, and also develop new projects at increased rates of return.”

  The Q1’24 report is available in the Investor Relation section on our website. An Analyst Call is scheduled on May 28^th, 2024 at 08:30 am. Institutional and semi-professional investors can also opt to participate at the virtual presentation organized by mgb Research at 11:30 am.

• 27.03.2024 7C Solarparken beats guidance and achieves EBITDA of EUR 61.6 Mio in 2023

  Bayreuth (pta011/27.03.2024/10:53 UTC+1)

  7C Solarparken (WKN: A11QW6, ISIN: DE 000A11QW68) has exceeded both its EBITDA and CFPS guidance for the 2023 financial year.

  The Group reports an EBITDA of EUR 61.6 Mio., which is significantly better than the guidance of EUR 57.0 Mio., but a marked decline compared to the exceptional 2022 year (EUR 74.7 Mio.). The Group's performance was supported by (i) the build-up of its IPP portfolio to 465 MWp at year-end, whereas the weighted capacity in 2023 rose to 421 MWp, and (ii) an electricity price swap with a leading energy player which provided a power price floor of EUR 149.5/MWh to approximately 25% of the portfolio during the reporting period. However, irradiation dropped below average and PV power prices normalized to EUR 73/MWH after the unprecedented power price peaks in the previous year 2022. Cash Flow per share is reported at EUR 0.61/share (guidance: EUR 0.60/share). Underpinned by the Company's solid balance sheet, the Group's equity ratio rose further to 44%, which is sufficient to sustain selective capacity growth and to continue to remunerate shareholders.

  Shareholder remuneration 2023 and 2024

  It is the Company's dividend policy to remunerate shareholders by means of an annual dividend and/or dividend equivalent. For the 2023 financial year Management proposes an increase in overall shareholder remuneration from EUR 0.12/share to EUR 0.13/share. Management considers the completed share buy-back program 2023 of EUR 5.6 Mio. (equivalent to ca. EUR 0.07 per dividend-bearing share) economically part of the overall shareholder remuneration for the financial year 2023. Therefore, Management will propose the pay out of a cash dividend of EUR 0.06 per dividend-bearing share at the next annual general meeting of shareholders. Finally, Management announces its intention to maintain this increased level of overall shareholder remuneration (EUR 0.13 per dividend bearing share) for the 2024 financial year.

  Outlook 2024

  The current market is not without its challenges: long lead times for grid connection for projects under construction, and low power prices, brought on by a slowdown of energy consumption - both gas and electricity are affected - and finally high interest rates.

  Whilst it is true that big themes such as electrification, e-Mobility and investments in the hydrogen economy remain on the agenda, their roll out is lagging due to higher interest rates among other things. However, given the still tight supply in gas, it should be noted electricity markets remain vulnerable for upward power price shocks in case of an increase in industrial output, although 2024 looks too early for a structural recovery at this time.

  The current mix of low power prices and high interest rates is slowing down the Company's overall portfolio growth. In November 2023, Management has announced it will pursue a selective growth strategy focused on own developed projects. In doing so, Management is also being financially disciplined and will focus on project yielding an equity return of 450bps above the 10-year German government bond yield. As of today, the Company plans to have a total of 42 MWp constructed during 2024.

  Furthermore, the Group continues to play to its strengths looking to refit existing solar installations that enjoy high feed-in tariffs, re-powering two installations as well as exploring more lucrative and flexible routes to sell its power.

  Today, the Company also announces its objectives for EBITDA and CFPS for the current financial year. We expect to achieve earnings before interest, tax, depreciation, and amortization of "at least EUR 57 Mio." and we target a cash flow per share of "at least EUR 0.57 per share" this year. This reflects in full (i) the continued downward pressure on power prices by lower industrial output as well as (ii) the fact that a weighted volume of 25 MWp of PV Plants will not contribute to revenues during the 2024 financial year due to grid connection delays.

  Steven De Proost, CEO of 7C Solarparken AG: " Although, unsurprisingly, the record results of 2022 could not be matched, operating results 2023 are solid and exceeded our own expectations. The guidance for 2024 is based on the current slump in German industrial production and corresponding low electricity prices. Our internal electricity price models, however, show substantial upside potential once the German industry's output recovers. Our financial plan going forward requires full flexibility since portfolio growth will have to be self-funded, i.e. capital increases are not being considered at the current valuation. Our high equity ratio, which is unique in our sector, will therefore prove to be a real asset. The solid balance sheet even enables an increase in overall shareholder remuneration, which may consist of a cash dividend and/or share buy-backs. We are proud to announce an increase of total shareholder remuneration for the 2023 financial year to EUR 0.13 per share (up from EUR 0.12 per share last year), of which EUR 0.07 per share was already spent on the share buy-back 2023 and EUR 0.06 will be proposed as a cash dividend on the upcoming Annual General Meeting. Management has also announced its intention to keep overall shareholder remuneration for the 2024 financial year at the increased level of EUR 0.13 per share. This reflects our confidence in our Group's results, which remain supported by predictable production and feed-in tariffs.

  Annual Report 2023

  The Annual Report and accompanying presentation are available on the company's website in the "Investor Relations" section as from March 27th, 2024, 17:35 CET. A conference call for analysts is planned on March 28th, 2024, at. 08:30 CET.

  
   

• 19.03.2024 announces the successful and preliminary completion of the share buy back program 2023
  

  Bayreuth (pta035/19.03.2024/18:50 UTC+1)

  Announcement pursuant to Art. 5 para. 1 lit. b) and para. 3 of Regulation (EU) 596/2014 and Art. 2 para. 2 and 3 of Delegated Regulation (EU) 2016/1052

  Final notification regarding the share buyback program 2023 announced on November 27^th 2023 and extended on February 28^th 2024

  7C Solarparken AG successfully completed the share buyback program with a total volume of up to EUR 6 million (excluding incidental acquisition costs), which began on November 28^th 2023 and was extended on February 28^th 2024. The share buyback program was concluded on March 19^th 2024 as the maximum volume of shares was reached.

  In the total period of the share buyback from November 28^th 2023 up to and including March 19^th 2024, a total of 1,666,666 shares (ISIN DE000A11QW68) were acquired. This corresponds to 2.0% of the share capital. The rounded average purchase price paid on the stock exchange was EUR 3.39 per share. The total purchase price of the shares, which were repurchased, amounted to EUR 5,648,826.07 (excluding incidental acquisition costs).

  7C Solarparken AG intends to use the repurchased shares for the purposes stated in the authorization resolution of July 17^th 2020.

  The acquisition of the shares of 7C Solarparken AG was executed exclusively via the stock exchange in electronic trading on the Frankfurt Stock Exchange (XETRA). To this end, 7C Solarparken engaged a bank to perform the required trades. The share buyback was announced on November 27^th 2023 in accordance with Article 5 (1) (a) of Regulation (EU) No. 596/2014 and Article 2 (1) of Delegated Regulation (EU) No. 2016/1052 and initiated on November 28^th 2023.

  Information on the individual transactions of the share buyback is available on the website of 7C Solarparken AG at https://solarparken.com/en/aktie.php  in accordance with Art. 2 para. 3 sentence 2 of the Delegated Regulation (EU) 2016/1052.

   

• 28.11.2023 SMALL INCREASE IN EBITDA GUIDANCE AFTER 9M’23 RESULTS.

  BAYREUTH, November 28th, 2023 – Bayreuth-based solar park operator 7C Solarparken AG (WKN: A11QW6 / ISIN: DE000A11QW68) announced nine-months results. EBITDA fell by 16.5% to EUR 55.8 Mio. in comparison to the exceptional first nine months of 2022 which saw highly elevated electricity prices amid the Ukraine crisis. During the first-nine months of 2023, average power price fell by approximately two thirds. Furthermore, weather conditions also adversely impacted the results, as the specific yield was 5% lower than the long-term average. 

  Even so, EBITDA was stronger than anticipated in the annual guidance mainly as a result of a substantial recovery of compensation for production curtailments caused by the Re-Dispatch 2.0 scheme. Accordingly, the company generated a Cash Flow per share of EUR 0.59 in the first nine months of 2023, which is almost equal to the full-year guidance of EUR 0.60. The group’s consolidated balance sheet continues to excel with an equity ratio of 44% and net debt dropping  to EUR 134 Mio. Driven by these strong figures and near full visibility on Q4’23, guidance is revised upwards. EBITDA for the full year is now expected to reach EUR 58 Mio (versus EUR 57 Mio previously) and CFPS will be “at least EUR 0.60/share”.

  FURTHER OPERATIONAL NEWSFLOW

  • IPP Portfolio has reached at 461 MWP on the back of a construction boom in Belgium
  • A second electricity price swap has been closed for a portfolio of 22 MWP with a major European energy player, resulting in a fixed price of EUR 89/MWH for the financial years 2024-2025. Earlier this year, a electricity price swap (110 MWP) had been signed with another major European utility and covered only the period 2024 at a price of EUR 106/MWH

  A FULLY SELF-FUNDING MODEL WITH INITIATION OF A SHARE BUY BACK PROGRAM

  Within the context of high interest rates and a low share price levels, 7C Solarparken adapts its model to this new reality. The company will no longer opt for maximal growth via a mix of own development and (turnkey) acquisition of parks  financed by a mix of own generated cash flows and capital increases, but will rather strategically prefer selective growth focused on realizing those projects with the most attractive risk/reward profile within its own development pipeline.

  These projects will be self-funded from cash flows. Management has outlined different scenarios and it sees today much more value in buying back its own shares, as opposed to achieving fast growth by issuing new shares. For these reasons, the company has decided yesterday to buy back shares up to an amount of EUR 6.0 Mio. before the end of February 2024. The maximum price for the share repurchase program has been fixed at EUR 3.60/share.

   

• 16.10.2023 -7C SOLARPARKEN ENTERS IN NEW ELECTRICITY PRICE SWAP AGREEMENT FOR 2024

  Bayreuth, October, 16 2023, 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.”

• 19.09.2023 - 7C Solarparken records EUR 33 Mio EBITDA in H1’23, well above its outlook
  Bayreuth, September, 19^th 2023, 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68)- In spite of an exceptional comparable period in 2022 in terms of meteorological conditions and market power price, 7C Solarparken has once more demonstrated the stability of its business model.  

  Group EBITDA fell by only 15% to EUR 33 Mio. versus the H1’23 outlook of EUR 30 Mio. The outperformance relates to a strong capture price resulting from an electricity price swap with a European utility and improved PPA conditions in Belgium. Specific yield came in exactly in line with the outlook, which assumed the extremely poor month of March and April already.

  Cash Flow per share (CFPS) for the first half 2023 reached EUR 0.35 per share versus the outlook of EUR 0.30 per share reflecting a better-than-expected EBITDA and the almost unchanged level of interest expense, in spite of hikes in interest rates in the reporting period. Moreover, the net debt position dropped to EUR 146 Mio. with the group’s equity ratio climbing to an outstanding 42.8%.

  OUTLOOK

  Although the irradiation during August 2023 was very poor and the power price levels in Q3’23 remain weak, the management still maintains its guidance and continues to target a Group EBITDA of EUR 57 Mio. and a CFPS of 0.60 per share for the full financial year 2023. High EBITDA margins, strict cost control and the virtual absence of variable interest rates for the group’s financing arrangements offer sufficient stability to the guidance.

  Finally, the group also announced that its IPP portfolio as of today has increased to 449 MWp, construction on projects totalling a further 10 MWp will be starting shortly. This means that the annual target of 460 MWp could be achieved months in advance. The full operational agenda for 2023 is also clearly on-track with a re-location of the 2 MWp former Opel project to an owned site in Dessau, and substantial growth in the pipeline for the next quarters. In addition to significant progress for two main pipeline projects: in Herrnhut (ca. 12 MWp) and Peenemünde (ca. 80 MWp) respectively, 7C Solarparken is making headway on a further 300 MWp of large scale German projects, which are currently under development.

   

• 09.08.2023 -Further expansion of IPP Portfolio

  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."

   

• 29.06.2023 - Acquisition of Operating PV Farm of 1.3 MWP in Hessen

  Bayreuth, 29.06.2023 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has acquired a well-performing free-field PV farm of 1.3 MWP in Homberg, Hessen. The installation, equipped with panels from Canadian Solar, stems from the year 2011 and enjoys a fixed feed-in tariff of EUR 211/MWH. Under normal weather conditions, the plant will generate EBITDA of 225T EUR per year. The plant carries a low indebtedness level (EUR 0.7 Mio.) at a fixed rate of 3.2%. Aside from the PV plant, 7C Solarparken also invested in the industrial land (3.2 ha). Through this investment, the company’s IPP Portfolio rises to 446 MWP, versus year-end target of 460 MWP, and the PV Estate portfolio is expanded to 187 ha.

  Steven De Proost, CEO of 7C Solarparken, comments: “Although small, this plant will immediately contribute to EBITDA. Although similar transactions are currently on the table, management’s focus remains to advance development of in-house projects in Germany and Belgium. We feel highly confident to achieve our 460 MWP year-end objective.”

   

• 16.06.2023 7C Solarparken increases IPP-Porfolio by 20 MWp

  Bayreuth (pta/16.06.2023/13:11 UTC+2)

  Bayreuth, June 16th, 2023. 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has signed a purchase agreement for a 20 MWP PV installation near Bitterfeld in the Federal State of Saxony Anhalt. The transaction is still subject to usual condition precedent, however, construction of the plant is almost finished with grid connection scheduled for the end of this year. The project benefits from a guaranteed off-take price of approx. EUR 85/MWh (as a floor value), and is projected to contribute EBITDA of at least 1.6 Mio. in 2024. Through this new investment, the Group's IPP portfolio increases to 445 MWP, which also reflects some new construction projects across Belgium.

  In Belgium, during 2023, the Group has increased its number of completed sites from 9 to 11 (as was outlined at the recent AGM). Two new rooftop projects with on-site PPAs have been finished, notably in Sint-Gillis-Waas (0.2 MWP) and in Zwijnaarde (0.3 MWP). Panels for the new sites were supplied by Longi Solar and Trina Solar. The specific website for Belgium (www.7csolarparken.eu) contains the full list of projects and references in portfolio.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "Over two thirds of our growth objective for 2023 has been achieved. In Belgium, the first half of the year was mainly characterised by small scale projects. We will soon start construction on larger sites of over 1MWp. In Germany, development and investment in larger installations will also be the focus for the second half of the year."

• 30.05.2023 Q1’23 EBITDA down by 25% due to bad weather and sinking power prices

  Bayreuth, May 30^th, 2023 7C Solarparken (WKN: A11QW6, ISIN: DE 000A11QW68) reports its Q1’23 figures, which were driven by three main factors:

  • Strong capacity growth: the weighted operating capacity has increased by 18% from 336 MWp in Q1’22 to 397 MWp in Q1’23.
  • Unfavorable weather conditions: in line with the nationwide average, 7C Solarparken saw its specific yield falling by 26% to 129 kWh/kWp.
  • Sinking power prices: there has been a sharp year-on-year decline in PV market price from EUR 168/MWh to EUR 105/MWh (minus 38%). The Group, however, was able to mitigate the effect on its capture price to minus 20% from EUR 238 / MWh to EUR 190/MWh reflecting i) a large part of the IPP Portfolio still enjoying higher feed-in tariffs, and ii) 93 MWp capacity benefitting from a swap agreement with a European utilities company ensuring a fixed price of EUR 149.5/MWh until the end of 2023.

  As a result, EBITDA fell by 25% to EUR 8.9 million, which is higher than the implicit Q1 outlook of EUR 7.0 million provided in the annual results’ presentation. This relative outperformance relates to various one-off items such as recovery of out-of-period curtailment losses (Redispatch 2.0) as well as a settlement with a direct energy seller for unauthorized shutdowns of an installation. Net debt came in at EUR 153 million, virtually in line with guidance.

  Outlook remains unchanged so far

  Firstly, management reiterated its confidence in its growth trajectory towards 460 MWp at the end of this year and towards 525 MWp next year. For 2023, the capacity target is quasi secured thanks to the advanced development status of different projects in Belgium (10 MWp), the start of construction of a freefield project on own land in Dessau (2MWp) and the preparation for its co-developed site in Herrnhut (17 MWp). Furthermore, 7C Solarparken is executing the acquisition of an existing PV park in Germany of > 10 MWp.  Secondly, adverse weather conditions have persisted in April, while power prices are now ca. EUR 15/MWh lower than price levels observed at the time of guidance publication.

  Steven De Proost, CEO of 7C Solarparken AG, comments: “After a superior year 2022 with high power prices and exceptionally strong irradiation, the operating conditions are normalizing in 2023: power prices are returning to normal levels, but irradiation has disappointed so far this year. Our guidance for 2023 remains unchanged but, admittedly, there should be no further setbacks in either power price or weather conditions. We also confirm our  mid-term outlook: our pipeline is well-filled,  growth for 2023-24 quasi-secured, financing for 2023 is fully in place and PPA/tender tariffs stand at attractive levels offering visibility in the newbuilt project returns.

  The Q1’23 report is available in the Investor Relation section on our website. An Analyst Call is planned on May 31^st, 2023 at 08:30 am. Institutional and semi-professional investors can also opt to participate at the virtual Roundtable presentation organized by AlsterResearch on June 1^st , 2023 at 3:00 pm.

• 28.04.2023 - 7C Solarparken issues a Bond with Warrants 2023/2028 with shareholders' subscription rights

  Bayreuth (pta/28.04.2023/16:54)

  7C Solarparken issues a Bond with Warrants 2023/2028 with shareholders' subscription rights

  • By means of issuing the bond, the group secures approx. EUR 8 million in new financing with a term of 5 years assuming full placement
  • the group will receive a fresh equity injection of up to EUR 15 million, if all options are exercised.

  Subscription offer to the shareholders with possibility of oversubscription

  On April 13, 2023, with the approval of the Supervisory Board of April 14, 2023, the Management Board of 7C Solarparken AG (WKN: A11QW6 / ISIN: DE000A11QW68) issued a Bond with Warrants 2023/2028 with a term of five years and a total nominal value of up to EUR 8 million with subscription rights for shareholders.

  The Bond with Warrants 2023/2028 consists of a bond with a total nominal value of up to EUR 8 million divided into up to 80,000 bearer notes with equal rights and up to 4 million bearer warrants, with each note initially containing 50 warrants. The notes will have a term of 5 years and bear interest at an annual rate of 2.50% on their nominal value. Each warrant entitles the holder to purchase one no-par bearer share of 7C Solarparken AG with a proportionate amount of the share capital of EUR 1.00 per share at an exercise price of EUR 3.75 in accordance with the applicable warrant terms and conditions. It is planned that the option rights can be exercised in three exercise periods in July and October 2023 and January 2024.

  Shareholders have the right to subscribe notes at a ratio of 1,035:1 or EUR 100.00 (i.e. 1,035 shares entitle the holder to purchase 1 note with 50 separate warrants) at an issue price of 100% of the nominal value of EUR 100.00. In addition, shareholders are granted an oversubscription right for those notes with separated warrants for which the subscription right is not exercised by other shareholders. The subscription offer is expected to start in the second week of May. The Bond with Warrants 2023/2028 will be issued on the basis of the authorization granted by the Annual General Meeting on July 21, 2021.

  The Bond with Warrants 2023/2028 is to be included in collective safe custody at Clearstream Banking AG, Eschborn, and included in the listing on the open market of the Frankfurt Stock Exchange (quotation board trading segment).

  The issue is accompanied by futurum bank AG, Frankfurt as issuing bank. Notes with separated warrants that are not subscribed and allocated as part of the subscription offer (including the oversubscription option) are to be offered to selected investors for subscription under the same conditions as part of a private placement (non-public offering).

  Koen Boriau, CFO of 7C Solarparken comments: The proceeds from the Bond with Warrants 2023/2028 (approx. EUR 8 million) will form an important building block for financing the growth of the portfolio to 460 MWp by the end of 2023 and the working capital of German projects which currently are under development (approx. 100 MWp). Shareholders exercising their subscription right and subscribing to the Bond with Warrants 2023/2028 can, on the one hand, effectively cancel out the dilution created by the latest capital increase in April 2023 by exercising the options and, on the other hand, contribute to the continued expansion of the project pipeline of 7C Solarparken and its objective to grow the own asset portfolio to 525 MWp as targeted by the end of 2024. If all options are exercised in full, the group would receive up to EUR 15 million in fresh equity.

   

   

• 05.04.2023 - 7C Solarparken beats guidance and achieves a record EBITDA of EUR 74.7 Mio in 2022

  Bayreuth, April, 5 2023 In the financial year 2022 7C Solarparken group (WKN: A11QW6, ISIN: DE 000A11QW68) has exceeded its EBITDA and CFPS guidance. Firstly, the group achieved a record EBITDA of EUR 74.7 Mio. versus EUR 48.6 Mio. the year before. The group’s performance has developed very positively mainly reflecting (i) the build-up of its IPP portfolio from 338 MWp to 404 MWp, (ii) a superior year of sunshine irradiation (+12% versus 2021) and (iii) and an unprecedented increase in power market prices from 77 EUR / MWh in 2021 to 208 EUR / MWh in 2022. Cash Flow per share rose from EUR 0.56 in 2021 to EUR 0.85 per share over 2022, enabling the group to increase the proposed dividend to EUR 0.12 per share. The group’s equity ratio rose further to 41% and bodes well, particularly in times of rising interest rates, to sustain capacity growth and to maintain the dividend policy. Indeed, the situation on the energy markets escalated massively after Russia’s invasion of Ukraine and brought regulatory uncertainty back on the agenda, aside from higher interest rates as a weapon to fight (energy-) inflation. The impact of regulatory interventions (taking the form of price caps) for the group remained limited to EUR 0.9 Mio for 2022. The group notes that, in case the legislation had been introduced with retroactive effect as from 01 January 2022, EBITDA would have been adversely impacted by EUR 20 Mio.

  Outlook 2023

  The guidance for the financial year 2023 is based on a weighted operating portfolio of 410 MWp, versus the current IPP portfolio of 422 MWp. As of today, existing IPP installations totaling a capacity of 24 MWp, have yet to be grid connected. Irradiation in Q1’23 has been extremely poor with an estimated level of 120 kWh/kWp versus 154 kWh/kWp in a normal year. Assuming a return to a standard irradiation year as from April 2023. 7C Solarparken forecasts a relative yield of 941 kWh/kWp for the full year. In line with the current commodity curve, the annual power price is seen at 125 EUR / MWh, of which 98 EUR / MWh relates to solar. As a result of lower irradiation and to a larger extent a return to normal levels in power prices, management anticipates EBITDA and CFPS to reach EUR 57 Mio and EUR 0.60 per share respectively. For 2024, the group now estimates a CFPS rise to EUR 0.65 per share. The current Strategic Plan 2021-24 assumed CFPS of EUR 0.57 per share for the current financial year 2023 and EUR 0.60 per share for 2024.

  Steven De Proost, CEO of 7C Solarparken AG: "Our 2022 results show we are outperforming the market’s expectations and demonstrate the cash flow potential of the company. Of course, we won’t be able to beat the 2022 results in the current year. Exceptionally high electricity prices are unsustainable, else they are likely to be eroded through caps or other regulatory interventions. We have reviewed our financial plan for the next two years and increase our 2023-24 CFPS objectives today. Investors should be well aware that our definition of CFPS is equal to EBITDA minus lease payments, interest paid as well as taxes paid. The prepayment of taxes over 2023 will track the earnings trend of 2022, and therefore risk to be distorted in a year-on-year comparison. In spite of this cash flow effect, we raise our CFPS guidance for 2023-24.”

  Annual Report 2022

  The Annual Report is available at the website of the company under "Investor Relations" as from 5 April 2023 2:00 pm. A conference call for analysts is planned on 5 April 2023 at. 8:15 am.

• 01.03.2023 - 7C Solarparken plans to increase dividend to EUR 0.12/share over 2022

  Bayreuth - 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) today releases its updated investor presentation, confirming the guidance for the year 2022 with EBITDA and CFPS of EUR 70 Mio and EUR 0.70/share. Full-year figures will be announced on April 5, 2023. However, management announces today it intends to propose a dividend increase from EUR 0.11 last year to EUR 0.12 payable this year to the annual meeting. The increase reflects both the strong figures over 2022 and a positive outlook for 2023-24 in spite of the announced price caps in Belgium and Germany.

  In its investor presentation the company also highlights the main items on the management’s agenda for the full-year 2023:

  • Achieve grid connection before Q4 2023 of IPP Portfolio projects, totaling 24 MWp currently under construction or awaiting grid connection
  • IPP Portfolio to grow to 460 MWp (2023) resp. 525 MWp (2024)
  • Re-Finance a first tranche of EUR 15 Mio Promissory Notes which have expired in Feb ‘23
  • Continue to develop the companies’ pipeline of large PPA/merchant projects: two projects of 17 MWp and 80 MWp have just obtained their grid connection approval.
  • Replicate the auto-consumption PPA model from Belgium into Germany
  • Strategic review to build a 1 GW platform before 2030 considering M&A and partnerships

  Steven De Proost, CEO of 7C Solarparken, comments: “2022 has been a remarkable year with record results thanks to high power price, but unfortunately it was also characterized by a return to regulatory uncertainty. High power prices eventually caused strong inflation that is now finding its way into the financial markets through higher interest rates. Given that >99% of our loans carry a fixed interest rate, the effect on our cash flows is negligible but growth will indeed come at a larger cost of capital.”

• 06.02.2023 - 7C Solarparken expands its German IPP Portfolio by 21 MWp

  Bayreuth, February 6, 2023 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces today that the group has increased its capacity base by 21 MWp by expanding the group’s consolidation circle to include the closed-end fund GSI Solarfonds Drei GmbH & Co. KG. Since 2019 the group has been managing the GSI 3 close-end fund, which owns a portfolio of operating plants across Bavaria and Eastern Germany. 7C Solarparken has in the last month built up a controlling stake of approx. 60%, resulting in the full consolidation of the fund.

  Concretely, the fund operates the following solar assets: Ansbach (3.9 MWp), Brodswinden (2.9 MWp), Ermlitz-Mitte (2.0 MWp), Ermlitz-Nord (2.6 MWp), Goldbeck (2.8 MWp), Römerhügel (2.9 MWp) and Selb (4.2 MWp).

  The ground-mounted solar assets, operated by the fund are equipped with First Solar and/or SolarFrontier modules, yielding 900 – 1,000 kWh/kWp per year. As the assets were commissioned in 2012, they enjoy a feed-in tariff of ca. EUR 179/MWh. Sale of electricity is forecasted at EUR 3.7 Mio p.a. with annual EBITDA around EUR 3.1 Mio. There is only a limited amount of EUR 3.9 Mio external debt in the fund, as the group had redeemed the largest portion of debt last year. The debt was contributed to the fund’s capital by the group last month, which substantially increased the group’s financial stake in the fund, as announced today.

  As a result of the first time consolidation of the fund, the group’s IPP Portfolio rises to 422 MWp, demonstrating once again that the company is on its way to reaching its interim target of 460 MWp by end of 2023 and main objective of 525 MWp by 2024.

  Steven De Proost, CEO of 7C Solarparken, comments: “Following the consolidation of the HCI 1 and HCI 2 funds shortly after the group acquired a fund management business, we are pleased with this new transfer into our IPP Portfolio. The free cash flow contribution will be substantial, in line with EBITDA – in light of the low indebtedness of the project companies.

   

• 23.12.2022 7C Solarparken reaches its year-end objective of 400 MWp for its IPP Portfolio

  Bayreuth, December 23, 2022 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces today that the Group has expanded its portfolio by another 10 MWp through the acquisition of an operating freefield installation in Schwerin, Germany. In addition the construction of previously announced solar assets, totaling  12 MWp across its two markets, is making good progress,.

  In Belgium, the Group confirmed that the construction of two new rooftop projects (0.3 MWp in Ledegem and 0.5 MWp in Ninove) is nearing completion. The PV power of both project will be sold  on-site to the rooftop owner at a fixed PPA price. In Burgwindheim (Germany) the construction of a freefield extension project of 10.8 MWp is making good progress as well. The project is expected to be grid-connected in Q2’23. The new installations are equipped with panels supplied by Topray Solar, Astronergy and Trina Solar.

  Following the successful completion of financial, technical and legal due diligence, 7C Solarparken has entered into a sales and purchase agreement regarding a 10 MWp PV plant in Schwerin. The operational solar asset consists of two installation parts – built on an old military site - which were commissioned in July/August 2015 respectively with land lease agreements until the end of 2045. The solar asset enjoys a FIT of EUR 89/ MWh and has a yield of over 1,000 kWh/kWp. Based on receiving its FIT (i.e. not based on estimated market-based capture price), the SPV has estimated annual revenues of EUR 0.9m and an estimated annual EBITDA of EUR 0.6m p.a. for the financial year 2023. The solar asset is being acquired with project financing of EUR 4.8m. PV Panels of Astronergy have been used. The closing of the acquisition is subject to market conform condition precedents.

  Through this transaction, the group’s IPP Portfolio rises to 401 MWp,  in line with the company’s target to deliver 400 MWp by 2022 and 525 MWp by 2024.

  Steven De Proost, CEO of 7C Solarparken, comments: “We confirm once again that 7C Solarparken combines high visibility in terms of EBITDA generation and IPP growth target achievement. In theory, the German PV industry stands to gain from outstanding growth perspectives defined by the national government. In practice however, the situation is somewhat more complicated: i) delivery times for transformers and grid equipment have never been longer, ii) local authorities tend to slow authorization procedures seeking to apply outdated rules, iii) grid operators remain unable to keep up with the administrative complexities caused by Re-Dispatch 2.0 with lagging pay-out of financial compensation for plant outages as a result, iv) governments planned to structurally re-design the electricity price landscape for renewables leading to uncertainties and (temporary) price caps on projects with feed-in, PPA and merchant pricing. In spite of all of these headwinds, the financial year 2022 will prove to be the best year on record for 7C Solarparken with record revenues, record profits and record cash at hand. Due to the German price cap that starts as from 01 December 2022, our revenues will nevertheless be subject to a reduction in capture price going forward.”

   

• 29.11.2022 A 59% Increase in EBITDA to EUR 66.8 Mio. during the first nine-Months 2022. Full-year Guidance raised

  BAYREUTH, November 29^th, 2022 – Bayreuth-based solar park operator 7C Solarparken AG ((WKN: A11QW6 / ISIN: DE000A11QW68) announced nine-months results, largely above last year. EBITDA rose by 59% to EUR 66.8 Mio on the back of (i) better weather conditions, (ii) substantial capacity growth and (iii) elevated electricity prices. Amid a hot debate on electricity price caps across Europe, management has assumed a EUR 3.3 Mio provision to cover a retroactive cap as from 1^st September, 2022. The group increased power production by 31% to 309 GWh backed by an increase of weighted capacity of 21% to 340 MWp and a 10% rise in specific yield to 909 kWh/kWp.

  • Revenues rose even more sharply thanks to the development in PV power price from EUR 63/MWh in the first nine-months of 2021 to EUR 219/MWh in the corresponding period in 2022. Reflecting a well-spread mix of plants operating under fixed feed-in tariffs, variable direct sale prices (i.e. market price + market premium) and a hedge agreement (EUR 149.5/MWh) on ca. one quarter of the portfolio, the group’s capture price rose from EUR 198/MWh to EUR 238/MWh. As a result, revenues rose by 56% to EUR 74.1 Mio.
  • Revenues however include a provision of EUR 3.3 Mio related to the price cap debate in Europe, particularly in Germany. For Belgium, management adopts EUR 0.6 Mio less revenues due to assumed retroactivity as from 1^st January 2022. For Germany, a provision of EUR 2.6 Mio is reflected in the figures already due to a likely retro-active measure as from 1^st September 2022.
  • Due to a largely fixed cost structure, EBITDA even increased by 59% to EUR 66.8 Mio. The strong cash flows resulted in a reduction of net debt to EUR 135 Mio.

  Likewise, management has raised EBITDA and CFPS guidance for the full-year to EUR 70 Mio and EUR 0.70/share, versus EUR 61.8 Mio and EUR 0.67/share respectively.

   

• 07.11.2022 7C Solarparken increases the capacity of its IPP portfolio from 366 MWp to 380 MWp

  Bayreuth, November 07, 2022 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces today that the Group has expanded its portfolio by 14 MWp through the commissioning of multiple new installations across its two markets.

  In Germany, the Group confirmed the acquisition of a 10 MWp Project in Wölbattendorf in the region of Hof (Northern Bavaria). The project, installed by IBC Solar, enjoys a tender tariff of EUR 48/ MWh but will be remunerated according to the usual market price mechanism.  The plant is equipped with panels from URE Solar, and inverters from Sungrow and has just been connected to the grid. Management estimates specific yield of at least 1.025 kWh/kWp under normal weather conditions.

  7C Solarparken also remains very active in Belgium where they have finalised construction of the pipeline as was outlined in the H1 results presentation (announced 22 September 2022). 

  • 0.4 MWp project in Peer: equipped with Longi panels
  • 1.5 MWp project in Wielsbeke: equipped with JA Solar panels
  • 1.1 MWp project in Ieper: equipped with Longi panels

  These three rooftop projects benefit from an on-site Power Purchase Agreement (PPA) and are expected to be connected to the grid between March and June 2023 reflecting long lead times for electrical infrastructure currently experienced.

  The company is also constructing two additional new hereto unannounced installations. Firstly, a 0.6 MWp rooftop project in Poppel including an on-site PPA with the resident chicken farm. This project uses Trina Panels. Secondly, a 0.8 MWp installation in the Walloon Region where Longi panels are used.

  Steven De Proost, CEO of 7C Solarparken, comments: “In Belgium, high end-user prices for electricity have led to an acceleration of our development business.  We offer solutions through the installation of projects and selling electricity through a direct PPA to the on-site client, who therefore avoid paying transmission and distribution costs.  Over the last few weeks, we have signed further development agreements for many new potential projects of this nature.  In Germany, we are about to start construction of a 10 MWp project in Burgwindheim.  This was also part of the announced pipeline in H1’22 and will be constructed by INTEC Energy Solutions. We remain on track to deliver our 400 MWp target.”

   

• 11.10.2022 – 7C Solarparken secures project rights for ca. 100 MWp
  

  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.”

   

• 22.09.2022 – EBITDA rises by 52% in H1’22, full year EBITDA guidance raised despite risk for price cap

  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has announced its first-half results.

  Total production output grew by 31% to 189 GWh driven mainly by expansion of the weighted running capacity to 337 MWp (+23%). Germany’s overall irradiation and specific yield were ca. 11% up  compared to last year’s poor first six months. The IPP Portfolio of 7C Solarparken also saw an increase in their specific PV yield by 8%  to 562 kWh/kWp.

  Group revenues rose to EUR 43.7 Mio. versus EUR 28.8 Mio in H1’21,  reflecting a combination of increased output and a 17% increase in average capture price (from EUR 195/MWh to EUR 228/MWh) due to an increase in PV market price from EUR 50/MWh to EUR 165/MWh. EBITDA increased also by 52% from EUR 25.5 Mio to EUR 38.7 Mio on the back of increased sale of electricity. Consolidated profit more than doubled to EUR 14.8 Mio versus EUR 6.7 Mio last year as the EBITDA effect almost fully runs through to the bottomline given the relatively low level of indebtedness. Net debt fell from EUR 181 Mio in H1’21 to EUR 157.7 Mio at the end of June 2022.

  Cash Flow per Share renewed its upward trend and climbed from EUR 0.30 per share in the first half of 2021 to EUR 0.45 per share during H1’22.

  For the full year, management continues to see regulatory risks due to the high electricity prices. In its initial guidance, the company already assumed the introduction of price cap which now seems to realize itself as the  European Commission presented a  EU regulation proposal for emergency measures to be taken by each individual member state based on a package which includes a price cap of EUR 180/MWh for renewable energy.

  Management has concerns about the implementation methodology of the price cap as the draft proposal might lead to an PV electricity price below the price cap. Furthermore, retroactive measures are potentially in the cards. The new guidance includes the implications of the proposed cap with retroactive effect, but in the end Germany will decide on the implementation in our main market. At the backdrop of these adverse effects, management still raises guidance for EBITDA from at least EUR 59 Mio to EUR 61.8 Mio. CFPS is now guided at EUR 0.67 versus at least EUR 0.65 previously.

   

• 15.07.2022 7C Solarparken raises Full-Year Guidance 2022 and announces a portfolio increase of 10 MWp
  

  Bayreuth, July 15, 2022 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces today that the group has expanded its floating PV installation in Salzwedel by another 1.8 MWp. The extension project is equipped with Suntech panels and Huawei inverters, and enjoys a feed-in tariff of EUR 51/MWh, which will serve as a floor for capture prices in future. The group also has started construction works on a 7.7 MWp freefield solar plant in Traitsching, Bavaria, which will benefit from a tender tariff of EUR 46/MWh, serving as a minimum price as well. Management estimates output of ca. 1,100 kWh/kWp. Due to delays in the delivery of the plant’s transformers, the grid connection is scheduled for Q1’23.

  First-Half Results look very promising

  The group announces that production in H1’22 will exceed 179 GWh (H1’21: 145 GWh) based on a weighted operating capacity of 336 MWp (H1’21: 275 MWp)  As a result, specific yield is expected to climb to at least 531 kWh/kWp on the back of improved weather conditions compared to the first half of 2021. Reflecting the combination of (1) a higher-than-expected market price (the PV market price rose to EUR 189/MWh for June 2022) and (2) the closing of a swap agreement at EUR 149.5/MWh for a total capacity of 93 MWp, power sales and EBITDA for H1’22 are expected to exceed EUR 39.1m and EUR 33.0m respectively. Net debt at the end of H1’22 should fall slightly below EUR 160m on the back of substantial net cash flow generation.

  Full-Year Guidance raised: CFPS to rise to at least EUR 0.65/share

  Based on solid H1’22 figures and the effectiveness of the swap agreement as from June; 1^st 2022, management feels confident that for the full year, an average capture price of EUR 213/MWh can be realized. As a result management changes its double-scenario guidance approach for 2022 and now assumes EBITDA to reach EUR 59m compared to EUR 49.1 – 55.4m as under the previous guidance range. Cash Flow per Share should rise to just above EUR 0.65 per share (previous guidance range: EUR 0.53 – 0.61 per share).

  Nonetheless, management continues to observe operating and regulatory risks related to various items such as (i) supply chain distortions in delivery of new and replacement components, (ii) output losses related the introduction of Re-Dispatch 2.0, (iii) potential retro-active cuts to green certificates in Belgium on projects commissioned in 2008-2012 and (iv) regulatory interventions on green power production, e.g. in the form of price caps or  windfall taxes as already introduced in other European countries. Management remarks that these risks are not reflected in the new full year guidance.

  The presentation for the upcoming virtual AGM on July, 21^st 2022, has been made available on the companies’ website under investor relations today. Furthermore, the management’s presentation in German and English can be viewed by accessing the AGM link in the general meeting section of the companies’ website.

  
   

• 26.05.2022 Good weather, strong growth and high power prices boost Q1’22 EBITDA by 73%

  Bayreuth, May 26, 2022 7C Solarparken (WKN: A11QW6, ISIN: DE 000A11QW68) reports its Q1’22 figures, which were driven by three main factors:

  1. Strong capacity growth: the weighted operating capacity has increased from 268 MWp in Q1’21 to 336 MWp in Q1’22.
  2. Favorable weather: the first quarter of 2021 having been characterized by unfavourable irradiation, exceptionally low wind speed and a long period of snow, the nationwide reference yield of PV on household installation rose by 22% versus last year owing mainly to a superior month of March. The specific yield for the PV plants of 7C Solarparken rose by 20% to 165 kWh/kWp. The difference with the reference mainly stems from power control actions conducted by grid operators under the Re-Dispatch 2.0 system.
  3. High power prices: whilst rejuvenating the IPP portfolio with assets enjoying lower regulated feed-in tariffs, the high spot power price environment has boosted the capture price of the group’s assets. During Q1’22 the average capture price increased to EUR 238/MWh versus EUR 201/MWh in Q1’21.

  As a result of these factors, total production rose from 40 GWh to 58.8 GWh (+47%), and revenues even from EUR 8.3 Mio to EUR 14.1 Mio (+70%). Although operating expenses are on the rise due to a trend towards outsourcing part of the technical operations and a higher level of in-house development, EBITDA even climbed by 73% from EUR 6.9 Mio to EUR 11.9 Mio. Net financial debt went slightly down to EUR 175.2 Mio (year-end 2021: EUR 176.5 Mio) and evidenced that further growth has been auto-financed.

  Outlook remains strong but unchanged

  Over the last weeks, 7C Solarparken has increased its IPP portfolio by 8 MWp (to 352 MWp) through completing a project in Mecklenburg Western Pomerania. Grid connection is not yet realized though. Many other new-build projects in Belgium and Germany are planned with commissioning schedule at year-end 2022, so that the group remains on track to meet the 400 MWp IPP portfolio.

  In April 2022, the group has entered into an electricity price swap agreement with a major European electricity supplier covering roughly one quarter of the group’s total assets (93 MWp). The assets under contract have a weighted average feed-in tariff of 58 EUR per MWh. Under the swap agreement the group will receive a fixed price of 149.5 EUR / MWh in lieu of the higher of the feed-in tariff or the EEX electricity price for the period 1 June 2022 up to 31 December 2023. The swap covers a substantial part of the group’s output volume and confirms the solidity of both guidance scenarios for 2022 and provides comfort for the groups’ electricity sales and EBITDA for 2023 at this early stage.

  Steven De Proost, CEO of 7C Solarparken AG, comments: “2022 will certainly result into a most remarkable year due to the power price rally and the major ambitions shown by German government to develop further the PV market as a cornerstone of the energy industry. We continue to welcome the upbeat power price curve but are not indifferent to interventions taken by a growing number of countries. On May 18, 2022 European Commission presented its emergency measures with clear stipulation to reallocate wind-fall profits to support consumers until the next heating season (end of year 2022). Once we have improved visibility from the political front, we will be able to finetune our two-scenarios guidance for the full year. Amid this context, we are very proud to have secured part of output at attractive prices locked until the end of 2023 In the meantime, our focus remains on producing strong cash flows and pursuing the growth trajectory.”

  
  The Q1’22 report is available in the Investor Relation section on our website.

   

• 07.04.2022 - 7C Solarparken achieves a record EBITDA of EUR 48.6 Mio in 2021, up 13% versus last year

  Bayreuth, April, 07 2022 In the financial year 2021 7C Solarparken group (WKN: A11QW6, ISIN: DE 000A11QW68) has exceeded its EBITDA and CFPS guidance. Firstly, the group achieved a record EBITDA of EUR 48.6 Mio. versus EUR 42.9 Mio. the year before. The group’s performance has developed very positively mainly reflecting (i) the build-up of its IPP portfolio from 256 MWp to 339 MWp, and (ii) and a power price increase above EUR 70/MWh as from June 2021. On the negative side, the annual irradiation and specific output fell by 7-8% versus 2020. The group’s equity ratio rose from 35% to 39% underpinning the solidity of the balance sheet. Cash Flow per share declined only slightly to EUR 0.56 versus EUR 0.57 in 2020, but much better than latest guidance of EUR 0.51 per share. The management board proposes a flat dividend at EUR 0.11 per share.

  Outlook 2022

  The guidance for the financial year 2022 is based on an operating portfolio of 339 MWp without contribution from further growth and assuming a return to a moderate irradiation year as from April 2022. 7C Solarparken sets a two-scenarios guidance for 2022. In the first scenario, the company assumes an electricity price of EUR 126/MWh for the rest of the year, resulting into an EBITDA and CFPS of resp. EUR 55.4 Mio and EUR 0.61 per share. A power price of EUR 126/MWh is indeed below the unsustainable current market price, and reflects a return to the pre-Ukraine situation based on improved gas storage levels in Europe since mid February ’22. The second scenario assumes a cap on power prices (management estimate: EUR 70/MWh) – in line with the recent guidelines by the European Commission on authorised energy market intervention and already introduced by some EU member states.  Such an eventual windfall profit levy would directly impact guidance and lead to EBITDA of EUR 49.1 Mio and CFPS at EUR 0.53 per share. High(er) power prices or the absence of such a windfall levy would evidently support earnings momentum during the year.   

  Steven De Proost, CEO of 7C Solarparken AG: "We delivered once again better-than-expected figures, but were impacted by harsh weather conditions. We recorded a record capacity growth up to 339 MWp and generated a record consolidated net profit of EUR 10.6 Mio. We plan to grow our capacity base further to 400 MWp this year but above all in the absence of state intervention, we should be able to yield substantial cash flow improvement due to higher power price than last year.”

  Annual Report 2021

  The Annual Report is available at the website of the company under "Investor Relations". A conference call for analysts is planned on 7 April 2022 at. 8:15 am

   

• 01.03.2022: Three large-scale rooftop projects in Belgium near completion

  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces today that three large-scale PV projects in Belgium are at an advanced stage of construction.

  • In Deinze, a 1.1 MWp PV installation has been erected at the brand-new site of “Wegmarkeringen De Groote”.  The installation needs only to be grid connected which is scheduled for the end of Q2’22. Equipment from Renesola and Huawei has been used. Management targets a specific yield of almost 900 kWh/kWp. Approximately 20% of the electricity will be sold to the roof owner through an on-site PPA, whilst the excess electricity will be fed into the grid.

  • In Meer, a project of 2.6 MWp is currently in advanced stage of construction on a new logistics hall which is owned by “Neele Vat Logistics / Oostvogels”. Grid connection is expected at the end of Q2’22. The installation is equipped with Amerisolar panels and Huawei inverters and expected to yield 850 kWh/kWp. Management estimates that over one third of the electricity produced on the site will be sold through an on-site PPA.

  • Construction of a 2.3 MWp PV installation in Oudenaarde, using Longi Solar and Huawei components, at the premises of Samsonite has commenced. Management eyes a production yield of at least 850 kWh/kWp. Roughly two thirds of the power produced by the installation is expected to be sold on-site.

  Aside from these three large-scale rooftop installations, 7C Solarparken also has added 0.2 MWp in Ninove (Almepro site) and 0.1 MWp in Malderen (Houthandel Van Hemelrijck). As a result of adding these new Belgian projects to the group’s consolidated IPP portfolio, its capacity will rise to 344 MWp (versus 338 MWp now). Provided there are no further delays in scheduled grid connection and transformer delivery and construction, the projects will contribute to revenues as from Q3’22. On a full-year basis, these three projects will contribute EUR 0.3 Mio to group EBITDA.

  Steven De Proost, CEO of 7C Solarparken AG comments: “High energy prices cause industrial customers to scout for alternatives which can reduce their electricity bill. We offer solutions through developing a project at the site of the client and sell the power through a direct PPA to the same client who subsequently avoids transmission and distribution grid costs. The scale, cost of capital advantages and operational excellence of 7C Solarparken ensure the customer benefits from a lower-cost and more sustainable installation compared to a direct investment. Numerous mid-scale projects are currently being developed and will start construction soon.”

   

• 25.11.2021: 7C Solarparken unveils Plan 2021-24 with three key messages

  • Guidance for 2021 slightly raised on the back of high power prices
  • Objective to grow IPP Portfolio to 525 MWp in 2024 versus 338 MWp at present
  • High Equity Ratio of 39% allows a re-leverage of the balance sheet and will drive CFPS structurally to EUR 0.60

  BAYREUTH, Nov. 25, 2021 / Today, 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) will be hosting its Analyst Day in a virtual format. During the event, the management board will provide an update on the corporate plan 2021-24, including the impact of market growth and rising power prices.

  Steven De Proost, CEO of 7C Solarparken, comments: "2021 has been a year of significant achievement for us in spite of bad weather conditions. We have grown the IPP portfolio from 256 MWp to 338 MWp throughout the year, well above the initial target of 295 MWp. The accelerated execution of growth and the solid equity ratio (39% at the end of Q3’21) have limited the weather-driven setback in CFPS. We are therefore pleased to announce a small increase in this year’s guidance but above all, continuation of our growth and cash flow story will further deliver long term value to our shareholders. Our new mid-term targets are clear: 525 MWp IPP (excluding Asset Management) and EUR 0.60 CFPS.”

  The slideshow will be available at the company website under the section “Investor Relations”

   

• 02.11.2021: 7C Solarparken commissions its 1.8 MWp self-developed freefield PV project in Bernsdorf

  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces today that the group has commissioned a 1.8 MWp PV installation in Bernsdorf, nearby Zwickau (Saxony). This project has been built on 2.6ha industrial land that already belonged to the PV Estate portfolio since 2019. The full development including permitting process was executed in-house. The feed-in tariff for the project has been secured almost 24 months ago as part of the FFAV (freefield tendering) scheme and is close to the current FFAV pricing (ca EUR 50/MWh).

  The installation is equipped with Renesola 330W panels and Sungrow inverters, and is supposed to generate at least 975 kWh/kWp.

  Steven De Proost, CEO of 7C Solarparken AG comments: “New installations possess substantial option value since feed-in tariffs for projects that adopt direct marketing are entitled to receive market price as a floor irrespective of their awarded tariff. This option value is at present a real income contributor with base-load forward prices for 2022 at above EUR 100/MWh. Our IPP portfolio now contains 337 MWp, and is expected to grow to around 400 MWp by the end of 2022.”

  
  

   

• 08.10.2021: 7C Solarparken acquires 20 MWp, the largest PV project in its history

  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces today that the group has reached its already increased year-end capacity target of 335 MWp through the investment in a 20 MWp new-build project in Draisdorf-Eggenbach (Lichtenfels).

  The project has been planned and erected by IBC Solar with components from URE and Sungrow. The project’s average fixed feed-in tariff amounts to EUR 51/MWh, but since the feed-in tariff consists of market price plus a market premium, the company is supposed to benefit from higher market price, especially in the short term.  Currently, forward prices for 2022 exceed EUR 100/MWh and management is seeing solid demand from energy off-takers looking to lock in the future electricity price amid current price volatility. Given its superior location in Bavaria, the project should generate over 1,050 kWh/kWp.

  Steven De Proost, CEO of 7C Solarparken AG comments: “Our highly-rewarded partnership with IBC Solar forms the cornerstone of our recent growth initiative up to 335 MWp. The realisation of our goal of 400 MWp IPP capacity (and 500 MWp including Asset Management) by the end of 2022 would complete our transformation into an european tier-1 player. We will organise an Investor Day during November 2021 to elaborate on the management’s expectations with regard to the energy markets and electricity prices in greater detail as well as presenting the new mid-term targets for our company.”

  
  

   

• 28.09.2021 – EBITDA rises to EUR 25.5 Mio in H1'21, full year EBITDA guidance raised despite cloudy weather

  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has announced its first-half results.

  Total production output grew by 23% to 145 GWh driven mainly by expansion of the weighted running capacity to 275 MWp (+41%). Germany’s overall irradiation and specific yield were ca. 10% down compared to last year’s excellent first six months and even 3% lower than the long-term average. The IPP Portfolio of 7C Solarparken also saw a drop in their specific PV yield by 10%  to 510 kWh/kWp.

  Group revenues rose to EUR 28.8 Mio. versus EUR 26.7 Mio in H1’20,  reflecting a combination of increased output and a declining average tariff (from EUR 218/MWh to EUR 195/MWh) due to changes in the capacity mix. The latter effect is driven by acquisitions and new-build installations typically enjoying lower feed-in tariffs compared to the existing portfolio, consisting of older plants on average.  EBITDA increased from EUR 23.5 Mio to EUR 25.5 Mio mainly thanks to increased sale of electricity and  special items such as compensation for damage and outages.

  Cash Flow per Share halted its upward trend and sunk from EUR 0.34 per share in the first half of 2020 to EUR 0.30 per share during H1’21. Last year’s figure contained a tax reimbursement of EUR 0.6 Mio whereas this year’s figure for cash taxes paid returned to a normal level of minus EUR 0.7 Mio. Although the higher number of shares had a countereffect on CFPS, it has boosted the group equity ratio to 36.7% which underlines the strength of the balance sheet. The equity ratio will further increase in H2’21 reflecting the recent issue of new shares.

  The group indicates that the second-half of the year has evolved poorly with irradiation even far below the standard deviation during the months of July and August. The impact is estimated at minus EUR 1.6 Mio. Nonetheless, the evolution of the group’s portfolio to 316 MWp is widely above the capacity included in the group’s guidance. Management sees the capacity growing further to 335 MWp by year-end 2021. As a result, EBITDA guidance for the full year is raised from EUR 42.5 Mio to EUR 44.4 Mio. The guidance for CFPS remains unchanged as the new investments, financed by the recent capital increase and leading to a higher number of average shares, do not contribute proportionally during 2021 yet.

  Steven De Proost, CEO of 7C Solarparken, comments: “After a few years of above-average irradiation, we were confronted with an opposite direction during 2021. Obviously, it brings pressure on results and  it demonstrates clearly that our specific business model - cash flows from feed-in tariffs with a higher-than-normal equity financing – is the right thing. We  succeed in raising our EBITDA, and can keep our CFPS unchanged. Investors now have a clear signal about the potential of our CFPS going forward under normal weather conditions, particularly once we have reached our 400 MWp IPP target.”

   

• 03.09.2021: IPP Portfolio rises by a further 12 MWp of German PV parks

  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces today, the group is making  good progress in its capacity expansion. The current consolidated IPP portfolio has reached 315 MWp versus 256 MWp at the beginning of this year. Therefore, it has now exceeded its 295 MWp year-end target.

  Combined with the execution of the recent capital increase, 7C Solarparken has committed itself to reach its 400 MWp IPP target one year earlier-than-anticipated, namely at the end of 2022 rather than 2023. As part of this growth acceleration, the company recently secured purchase rights on numerous projects with several project developers, of which today’s announcement is only the first step. Furthermore the group continues to pursue its own project development.

  Today, a first package of 12 MWp has been signed consisting of three German projects on various sites in Saxony Anhalt, which were commissioned between 2015-20 with a median tariff of EUR 64/MWh. In addition to the installations,
  7C Solarparken also acquired 15.7 ha land on which two purchased projects are located. The parks will generate EUR 0.8 Mio in annual revenues and have been financed by project loans of ca EUR 8.5 Mio.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "Although weather conditions in July and August continue to be below normal levels, our capacity growth is accelerating and will enable strong support to the underlying value of the company”

  
   

• 24.08.2021 – 7C Solarparken AG vollzieht Kapitalerhöhung zur Finanzierung des Wachstums
  
  Bayreuth, 24.08.2021. Nach erfolgreichem Abschluss der Platzierung der insgesamt 6.942.043 Aktien im Wege einer Privatplatzierung ausschließlich bei institutionellen Investoren in Deutschland und im europäischen Ausland wurde die Kapitalerhöhung der 7C Solarparken AG im Handelsregister am 19. August 2021 eingetragen.
  
  Den Investoren, denen Aktien zugeteilt wurden, werden diese voraussichtlich am 24. oder 25. August 2021 geliefert. Im Rahmen der Börsenzulassung der neuen Aktien erfolgt eine Teilzulassung von 5.820.096 neuen, aus der Kapitalerhöhung stammenden Aktien unter der ISIN DE000A11QW68. Die restlichen 1.121.947 neuen Aktien unterliegen einer Lock-up-Vereinbarung, aufgrund derer eine Veräußerung für einen Zeitraum von 6 Monaten ausgeschlossen ist. Wegen dieser Lock-up-Erklärung, die durch den Vorstand Herrn Steven De Proost abgegeben wurde, werden die 1.121.947 nicht zugelassenen Aktien in einer getrennten ISIN (DE000A3E5DN3) verbucht und nicht zum Börsenhandel zugelassen.

  
  Der Emissionserlös aus der Kapitalerhöhung bildet das Eigenkapital für den Ausbau des Konzernanlagenportfolios auf 500 MWp, davon 400 MWp Anlagen im Eigentum des Konzerns. Darüber hinaus sollte das vorgenannte Ausbauziel durch die Kapitalerhöhung nunmehr bis Ende 2022 anstatt bis Ende 2023 erfolgreich umgesetzt werden können.

  
   

• 30.07.2021 – 7C Solarparken adds 1.4 MWp in Belgium, and wins volume of 4 MW in the first call

  Bayreuth, 30 July 2021 7C Solarparken has completed two new-build projects, prior to the expiration of the green certificates scheme, in Flanders (Belgium). Both projects were part of the pipeline of the former EnerVest Belgium, which was acquired at year-end 2020 and has subsequently been rebranded “7C Solarparken Belgium”. The group commissioned a 1.2 MWp in the province Limburg at the premises of a company which will use the produced power on-site during its industrial processing. The group will benefit from green certificates of EUR 24/MWh in addition to selling its electricity. The project is equipped with Longi panels and Huawei inverters, with ExtraPower BV as its EPC contractor. A second project of EUR 0.2 MWp, which was built using the same equipment, is situated on the roof of a large bakery in Antwerp. Given the smaller size of the project (< 250 kW) the green certificates amount to EUR 43/MWh.

  First auction round in Flanders (Belgium)

  The Flemish Region recently changed legislation for new renewable energy projects under 2 MW. As a consequence, these projects will no longer be entitled to fixed green certificates but are required to participate in an auction scheme with a pay-as-bid pricing formula comparable to the German FFAV process. In contrast to the German system however, successful projects will be awarded a one-off investment grant rather than a fixed price per MWh produced.  In the first round, the Flemish Energy Agency has selected 59 rooftop PV projects, totalling 33 MWp which will receive grants totalling EUR 4 Mio. The median winning project has obtained an investment grant equivalent of EUR 7/MWh based on 20 years production. 7C Solarparken expects to realise 4 winning projects (out of 59) totalling 4 MWp (out of 33 MWp) in the next 12 months. The investment grant awarded on these projects is equivalent to a subsidy of EUR 7/MWh. The next auction is scheduled for September 2021.

  Steven De Proost, CEO of 7C Solarparken, comments: “Our IPP portfolio continues to rise and currently stands at 302 MWp. Our development in Belgium is working on an increasing level of projects since the market dynamics evolve favourable. The commodity curve shows rising electricity prices in Belgium so that over-subsidies have no place anymore in the market. Industrial customers will therefore, more than ever, have to re-think their renewables strategy away from direct investment into third-party model investing. Our team is ready to capture upcoming opportunities.”

   

• 15.06.2021 -7C Solarparken reaches new milestone: IPP Portfolio above 300 MWp

  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) published today its Q1’21 report and announced substantial progress in its capacity expansion. At the day of publication, the consolidated IPP portfolio has reached 301 MWp versus 256 MWp at the beginning of this year and compared to the 295 MWp year-end target.

  Q1’21 Results

  In spite of much less favourable weather conditions, the group managed to keep EBITDA virtually flat at EUR 6.9 Mio due to the strong uptick in weighted capacity in operation (from 191 MWp in Q1’20 to 268 MWp in Q1’21). Indeed, the specific yield of the solar and wind portfolio decreased by 19% to 148 kWh/kWp compared to Q1‘20. This was mainly caused by poor irradiation and a resulting decline in specific yield of the solar portfolio (-11%) as well as the dramatic fall in load hours of the wind assets (-45%), which typically disproportionally support the overall portfolio’s specific yield during the winter months. Net financial debt rose slightly from EUR 174.6 Mio to EUR 182.7 Mio in spite of further capacity expansion during Q1’21.

  2021 Guidance

  Weather conditions have continued their adverse trend during the important months of April and May, and thus caused an estimated negative EBITDA effect of ca. EUR 1.2 Mio. Newly installed capacity will not suffice to compensate this effect, but management sees not yet any reason to adjust its EBITDA guidance of EUR 42.5 Mio. accordingly.

  IPP Portfolio at 301 MWp

  During the previous weeks, 7C Solarparken reached an important milestone by surpassing IPP capacity of 300 MWp The group added numerous new-build projects and acquired two running parks.

  • Acquisition of a 2,5 MWp freefield park in Dessau that has been commissioned in 2015 with a feed-in tariff of EUR 90/MWh. The installation is expected to produce ca. 800 kWh/kWp reflecting its east-west design. Aside from the equity, the company takes over a net debt position of EUR 1,1 Mio. at an interest rate of 3,25%.

  • Acquisition of the 5,3 MWp installation in Heilgersdorf, nearby Coburg. The project has been developed and constructed by IBC Solar with whom 7C Solarparken continues to work closely as a long-term partner for EPC and maintenance services. The project in Heilgersdorf enjoys a 20-years tariff of EUR 52/MWh and has been equipped with panels from URE (the Taiwanese PV giant resulting from the merger of Neo Solar Power, Solartech and Gintech) and Sungrow inverters. The project has not been debt-financed.

  • Commissioning of the 6,2 MWp Belgian rooftop project in Rieme, Port of Ghent. Construction works were finished at the end of last year, but grid connection took place only at 31 May. The project is entitled to green certificates of EUR 24/MWh for the next ten years. The power will be sold at a formula close to the Belgian electricity price index.

  • Capacity of 2.8 MWp consisting of smaller PPA projects in Belgium have been added as well, and will contribute to EBITDA as from Q4’21.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "Although weather conditions year-to-date stay in negative territory, our capacity growth continues to accelerate. We continue to benefit from growing demand for PV installations, carbon restrictions and an increase in energy prices. Our in-house development pipeline remains well-filled, both with larger freefield projects in Germany as with potential PPA projects in Belgium.”

   

• 20.04.2021 - Energiekontor AG has sold the Theilenhofen solar park with a total output of around 9.2 MW to 7C Solarparken AG.

  • Power is enough for the equivalent of approx. 3,500 households
  • Commissioning in the 4th quarter of 2021

  The solar park will be built at the Theilenhofen-Ost site in the Weissenburg-Gunzenhausen district of Central Franconia, around 40 km south of Nuremberg, and will go into operation in the fourth quarter of the current year. The Theilenhofen solar park had successfully participated in the EEG tender of 1 April 2020 and thus secured the relatively attractive remuneration of the tender date at that time. In the future, it is expected to generate an average of almost 10 million kilowatt hours per year. This amount of electricity is enough to cover the needs of approximately 3,500 German households.

  Peter Szabo, CEO of Energiekontor AG, is satisfied: "The significant increase in our project pipeline is due in no small part to the progress made in the solar sector. Here we can point to an increasing number of successes. The Theilenhofen solar park is now the second solar park we have sold to 7C Solarparken AG within 4 months. The sales process was once again partnership-based, professional and highly efficient. We are looking forward with confidence to the second half of 2021, in which large PV projects with a volume of at least 170 MW will go into construction in the solar sector alone.“

  Steven De Proost, CEO of 7C Solarparken AG, comments: "With the purchase and commissioning of the Theilenhofen solar park, our IPP portfolio will grow further from currently 275 MWp to 284 MWp. Due to the planned commissioning in the fourth quarter of 2021, the solar park will not yet be able to make a significant contribution to the 2021 earnings figures."

   

• 08.04.2021 - 7C Solarparken achieves a record EBITDA of EUR 42.9 Mio in 2020. Equity Ratio rises to above 35%

  Bayreuth, April, 08 2021 In the financial year 2020 7C Solarparken group (WKN: A11QW6, ISIN: DE 000A11QW68) has exceeded its EBITDA and CFPS guidance. Firstly, the group achieved a record EBITDA of EUR 42.9 Mio. versus EUR 38.1 Mio. the year before.  In view of the CoVid-19 crisis, the group’s performance has developed very positively mainly reflecting (i) the build-up of its IPP portfolio from 190 MWp to 256 MWp, and (ii) superior weather conditions even exceeding the sunny year 2019 by 2%. An increase in the number of hours with negative electricity prices had a small countereffect on economics. Strengthened by two capital increases, the group’s equity ratio rose to 35.3% and illustrates the solidity of the balance sheet. Cash Flow per Share rose to EUR 0.57 versus EUR 0.55 in 2019, and above latest guidance of EUR 0.52/share. Dividend proposal remains flat at EUR 0.11/share.
  
  Outlook 2021

  The guidance for the financial year 2021 is based on an operating portfolio of 275 MWp without contribution from further growth and assuming a return to a moderate irradiation year as from April 2021. During the first three months, 7C Solarparken already experienced a negative EBITDA effect of EUR 1 Mio. due to the least favourable weather conditions observed throughout the last 7 years. The company anticipates further capacity growth to at least 295 MWp in 2021 (40 MWp year-on-year) of which half will come from Belgium. Different sites in Belgium are almost ready for grid connection (e.g. 6 MWp in DC Rieme nearby Ghent Sea Port) or under construction. Also in Germany, the team has secured rights to build and/or to acquire as to meet group´s objective.

  7C Solarparken group sets its guidance for 2021 at EUR 42.5 Mio. EBITDA and EUR 0.50/share CFPS. Upon achieving the strategic goal of 400 MWp IPP (plus 100 MWp Asset Management) by 2023, CFPS should rise to at least EUR 0,60. Management continues to stress the value of equity and capitalisation in order to create further shareholder appreciation, and indicates that further capital increases of EUR 35 Mio. can be expected as to meet the 400 MWp objective.  

  Steven De Proost, CEO of 7C Solarparken AG: "We delivered once again better-than-expected figures, but were certainly supported by superior weather conditions. We recorded even capacity growth of 66 MWp during the year. Our team has successfully responded to the operational limits during the lockdown period(s) and we can look optimistic into the next years to grow the portfolio progressively to 400 MWp. The achievement of this objective should be accelerated through our recent entry in Belgium as second core market, although the average size per project will be noticeably smaller than in Germany. Through the possibility to sign on-site PPA´s we consider the market as attractive, particularly for large consumers coping with a high energy bill.”

  Annual Report 2020

  The Annual Report is available at the website of the company under "Investor Relations". A conference call for analysts is planned on 9 April 2021 at. 9:00 am.

   

• 25.02.2021 – 7C Solarparken invests in 10,6 MWp PV parks in Belgium

  Bayreuth, 25. February 2021. 7C Solarparken has acquired a portfolio of rooftop PV installations across 16 different locations throughout Flanders and Brussels, at the premises of renowned companies such as amongst others Decathlon and Beaulieu. Two new-build projects are still under construction with commissioning scheduled before end of May 2021. It is noteworthy that new-projects < 750 kW, built in the Flemish region after 31 May 2021, will have to participate in an auction procedure rather than to obtain a pre-determined green certificate.

  All acquired projects will receive a 10-years green certificate upon the generation of green power. The sale of the produced electricity will mainly be consumed on-site at an agreed PPA with the local user while the excess power is to be sold on the free market. On average, the portfolio will generate unit revenues of EUR 125/MWh of which half reflects the value of a green certificate and the other half consists of the sale of electricity. Managements anticipates annual revenues of EUR 1,3 Mio once all installations will be fully grid-connected. EBITDA contribution is likely to exceed EUR 1,1 Mio in a normal year. The transaction is debt-financed for approx. EUR 7Mio. at average fixed rate of 1,6%

  Steven De Proost, CEO of 7C Solarparken comments: „The newly-acquired team of Enervest Belgium (now renamed into 7C Solarparken Belgium) has been reviewing accurately this investment, and particularly welcomes the re-entry of a self-developed 0,6 MWp project in Heule (West Flanders) into portfolio. Through this investment our IPP portfolio rises to 275 MWp, versus our year-end objective of 295 MWp. Further project successes on the Belgian market are in preparation.“

  
  Contact:
  7C Solarparken AG
  Koen Boriau
  Board of Directors
  An der Feuerwache 15
  95445 Bayreuth
  Germany
  FON: +49 (0)921 230557-77
  FAX: +49 (0)921 230557 79
  EMAIL: info@solarparken.com

• 30.12.2020 – Energiekontor sells Höttingen solar park to 7C Solarparken.

  Bayreuth, 30 December 2020. Energiekontor AG has sold the Höttingen solar park with a total output of around 8.3 MW to 7C Solarparken AG.
  The solar park is located in the municipality of the same name in the Weissenburg-Gunzenhausen district of Central Franconia, around 40 km south of Nuremberg, and was commissioned on 18 December 2020. The Höttingen solar park had successfully participated in the EEG tender of 1.12.2019 and thus secured the relatively attractive remuneration of the tender date at that time. In the future, it is expected to generate an average of around 9.1 million kilowatt hours per year. This amount of electricity is mathematically sufficient to cover the needs of approximately 3,000 German households.

  
  A novelty is the length of the financing term of the solar park. For the first time, financing was concluded for 23 years (instead of the usual 20 years).
  Peter Szabo, CEO of Energiekontor AG, is satisfied: "The sales process for the solar park was conducted in a partnership-based, professional and highly efficient manner. The development of solar parks is playing an increasingly important role for Energiekontor. In the current year alone, we have sold four solar parks. The prospects are very promising, as there are a large number of solar projects in our development pipeline."
  Steven De Proost, CEO of 7C Solarparken AG, comments: "With the purchase of the Höttingen solar park, we are increasing our IPP portfolio to 265 MWp. We chose this high-yield plant in Bavaria because it was planned by the renowned developer Energiekontor and uses highly efficient components (Longi modules, Huawei inverters).”
  7C Solarparken AG:
  7C Solarparken is a pure PV owner / operator with an IPP portfolio of 265 MWp, including 6 MW onshore wind. Including the managed PV assets, the portfolio managed by the Group amounts to 339 MWp. The company's shares are listed in the General Standard segment of the regulated market in Frankfurt.

  
  Contact:
  7C Solarparken AG
  Koen Boriau
  Board of Directors
  An der Feuerwache 15
  95445 Bayreuth
  Germany
  FON: +49 (0)921 230557-77
  FAX: +49 (0)921 230557 79
  EMAIL: info@solarparken.com

• 29.12.2020 – Acquisition of EnerVest Belgium and increase in IPP Portfolio to 256 MWp

  Bayreuth - 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announces an investment in three solar assets across Germany for a total volume of 17 MWp. Firstly a combined installation of trackers and fixed tilt with 0.7 MWp capacity on a former military site in Morbach, enjoying an average feed-in tariff of EUR 342/MWh. The second and third project have just been commissioned by IBC Solar in the municipalities of Dennheritz (10 MWp) and Burgwindheim (6 MWp) with a respective tariff of EUR 72/MWh and EUR 57/MWh. Modules were sourced from Jinko Solar and URE Solar (formerly Neo Solar Power). All deals were financed for 100% through equity totalling an amount of EUR 15.8 Mio. Annual revenues will likely exceed EUR 1.3 Mio. Through these new investments, 7C Solarparken now holds an IPP portfolio of 256 MWp, versus its initial target of 220 MWp for the end of this year. The group has set its IPP objective for 2021 at 295 MWp.

  Acquisition of EnerVest Belgium
  7C Solarparken plans to build up a 50 MWp portfolio in Belgium by 2023 as part of its strategic plan. To this end, the group has reached an agreement with the German wind operator EnerVest AG to acquire its Belgian renewable energy subsidiary. EnerVest Belgium is ranked as one of the pioneers in the Belgian PV market and is exclusively focusing on project development and asset management of PV parks. The company is based in Ghent and will be fully integrated into 7C Solarparken, acting as its platform to realise the group´s Belgian PV ambitions. EnerVest Belgium has sound credentials in the sector, but more importantly, it has a solid pipeline which will be realised in the next 12 months. The first projects on roofs of two well-known multinational corporates will soon enter construction. The company also aims to grow strongly by including PV carports, e-bike ports and mobile solar parks in its PV package

  Steven De Proost, CEO of 7C Solarparken AG, comments: "We look back to a great year 2020 during which we have achieved and even exceeded all internal targets. We close the year with a portfolio of 256 MWp compared to our forecast of 220 MWp. The acquisition of EnerVest Belgium will accelerate our breakthrough in Belgium so that we look with confidence to growing the overall portfolio to 295 MWp during 2021.”

  7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 256 MWp, including 6 MW onshore wind. Including, its asset management activities, the group`s managed portfolio stands at 331 MWp. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

  Contact:
  7C Solarparken AG
  Koen Boriau
  Vorstand
  An der Feuerwache 15
  95445 Bayreuth
  Deutschland
  FON: +49 (0)921 230557-77
  FAX: +49 (0)921 230557 79
  EMAIL: info@solarparken.com
  www.solarparken.com

• 26.11.2020 – Record 9M EBITDA of EUR 39.7 Mio leads to guidance increase.

  Management report summary on the nine-months results of 2020

  • Total power production in the first nine-months of 2020 rose by 33% to 198 GWh on the back of a surge in weighted average capacity (+28% to 205 MWp). Global horizontal irradiation across Germany increased by 2.9% to 1,078 kWh/m² in the first nine months, but the record level observed during 2018 (1,096 kWh/m²) could not be repeated. 7C Solarparken reports a specific yield of 957 kWh/kWp over the first nine months of 2020 versus 923 kWh/kWp last year.
  • Nine-months EBITDA rose by 13% to EUR 39.7 Mio. Aside from continuous capacity growth, EBITDA was also boosted by addition to the IPP portfolio of Oberostendorf, Dettenhofen, Igling Buchloe and Neuhaus Stetten (totaling 14.9 MWp) as from 30^th June 2020. These Solar parks were previously part of the asset management portfolio. These solar assets, called HCI 1+2 assets, contributed EUR 1.4 Mio. to the group’s EBITDA during the third quarter of 2020. Other operating income (mainly one-time items) fell back from EUR 2.3 Mio in 2019 to EUR 1.3 Mio over the first nine-months in 2020, as the previous year was positively impacted by income from bargain purchases (“badwill”). Due to changes to the IFRS 3 standard, such operating income can no longer be realized as from January, 1^st 2020 for the purchase of solar assets.
  • Net debt climbed to EUR 174.6 Mio. compared to EUR 163.4 Mio at year-end 2019. A total of EUR 7.4 Mio relates to the consolidation of the HCI 1+2 assets. The capital increase of EUR 10.3 Mio., launched on October 1^st , 2020, is not yet included in the cash position of September, 30^th 2020. Regardless, 7C reports equity of EUR 146.6 Mio, which represents an equity ratio at an all-time high of 33.1%.

  Guidance for 2020 increased

  The group increases its full-year guidance EBITDA of EUR 41 Mio. versus the previous figure of EUR 39.2 Mio. Management also raises CFPS to EUR 0.52 on the back of strong nine-months results and the early realization of its 220 MWp objective. Indeed the group currently owns a consolidated IPP portfolio of 240 MWp after the transfer of the HCI 1 +2  assets.

  Long-term capacity target of 500 MWp now includes Belgium as a second home market

  7C Solarparken has identified Belgium as its second home market and targets at least 50 MWp in Belgium by the end of 2023. The Belgian market shows significant potential for large roofs and even ground-based projects. The latter segment is widely underdeveloped, at a time that the country´s industries are facing penalties due to non-realization of CO2 emission reductions. Furthermore, the management expects the group`s overall capacity target of 500 MWp to be realized at the latest at the end of 2023, but at the same time has increased its capacity target for the group’s IPP portfolio from 350 MWp to  400 MWp compared to the previous objective.

  Awarded „most outstanding solar power plants operator 2020 in Germany“ by Acquisition International

  

• 15.10.2020 – Year-end capacity target of 220 MWp exceeded through acquisition of 7.6 MWp park in Krakow am See

  Bayreuth (pta012/15.10.2020/08:00) - 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announced it has acquired an operational PV park of 7.6 MWp in Krakow am See in the state of Mecklenburg Western Pomerania. The installation has been commissioned in 2016 and enjoys a fixed feed-in tariff of EUR 89/MWh. The plant operates with 26.616 panels of RECOM (tier-1 supplier) and 182 inverters of Huawei. Aside from the PV plant, 7C Solarparken also acquired the underlying land of 8.5 ha. The project generates annual revenues of over EUR 0.6 Mio. with an EBITDA margin of ca. 85%. Through this new acquisition, which was fully financed with equity, the IPP portfolio of group climbs to 224 MWp and even to 301 MWp including the fund management business. The PV Estate portfolio now amounts to 155 ha.

  Assets amounting to 2.3 MWp not yet grid connected
  During the last weeks, the project in Bernterode (0.6 MWp) has been grid-connected. As of today, a total capacity of 2.3 MWp (out of the 224 MWp portfolio) is not yet operational, i.e. Langelsheim (0.7 MWp), Gumtow III (0.7 MWp), Calbe Katholische Kirche (0.7 MWp) and Alt Plestlin II (0.2 MWp). These projects will highly likely be grid connected before year-end.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "We have now reached and even exceeded our year-end capacity target of 220 MWp. Including our fund business, the portfolio tops already 300 MWp. Further projects are in acquisition, development or preparation phase of construction, including a large rooftop project in Belgium of 6 MWp for which all permits were recently obtained."

  7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 224 MWp, including 6 MW onshore wind. Including, its asset management activities, the group`s managed portfolio stands at 301 MWp. Nearly all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

  
  

   

• 30.09.2020 – 7C Solarparken AG adds 2.25 MWp to its IPP Portfolio

  Bayreuth, 30.09.2020 - 7C Solarparken AG (WKN: A11QW6 / ISIN: DE000A11QW68) has invested in an existing PV park of 2.25 MWp in Rötz nearby Cham (Bavaria). The solar asset consists of three installations of 750 kWp each, which were commissioned between Dec '17 and Feb '20. The project is built on conversion land and enjoys an average fixed feed-in tariff of approx. EUR 80/MWh. The installation is equipped with panels supplied by Q-Cells and Canadian Solar, and inverters from Sungrow and Delta. Mounting structures were delivered by Schletter. The park generates a specific yield in excess of 1,050 kWh/kWp and annual revenues of nearly EUR 0.2 Mio.

  Through this investment, the IPP portfolio of 7C Solarparken is raised to 217 MWp, close to its year-end target of 220 MWp. New investments are currently in review and/or in development.

  7C Solarparken AG
  7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 217 MWp, including 6 MW onshore wind. Including, its asset management activities, the group`s managed portfolio stands at 294 MWp. Almost all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

   

• 23.09.2020 – EBITDA rises to EUR 23.5 Mio in H1'20, full year guidance raised.

  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has announced its first-half results.

  Total production output grew by 29% to 118 GWh driven mainly by expansion of the weighted running capacity to 195 MWp (+23%). Weather conditions surpassed even last year’s excellent first six months, and continue to exceed the long-term average.

  Group revenues rose to EUR 26.7 Mio. versus EUR 22.8 Mio in H1’19 reflecting a combination of increased output and a declining average tariff due to changes in the capacity mix. The latter effect is driven by acquisitions and new-build installations typically enjoying lower feed-in tariffs compared to the existing portfolio, consisting of older plants on average.  EBITDA increased from EUR 21.5 Mio to EUR 23.5 Mio mainly thanks to increased sale of electricity. Cash Flow per Share continued its upward trend and rose to EUR 0.34 per share in the first half of 2020 versus EUR 0.33 per share during H1’19. While (i) weather conditions in the third quarter have continued their favourable trend, and (ii) the group will benefit from full-consolidation of two PV funds much earlier than envisaged,  management raises its guidance for the full year. The outlook for EBITDA for 2020 is increased to EUR 39.2 Mio versus latest guidance of “at least EUR 37 Mio.” and CFPS is raised to EUR 0.51 Cash Flow Per Share.

  During H1’20, group has further strengthened its equity ratio to 32.8%.

  Steven De Proost, CEO of 7C Solarparken, comments: “During the first half of this year, we had to withstand some negative repercussions due to CoVid-19, but our growth strategy in combination with financial discipline has further supported the equity ratio and operational figures.  We will maintain our approach which has contributed to our success to date; it consists in relying on predictable cash flows from feed-in tariffs coming from small-scale installations (up to 10 MWp). The removal of the 52 GWp cap is a clear signal that feed-in and auction projects of this size remain our preferred market route.”

  7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 215 MWp, including 6 MW onshore wind. Including, its asset management activities, the group`s managed portfolio stands at 292 MWp. Almost all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment

  
   

   

• 04.08.2020 – IPP Portfolio climbs to 215 MWp

  On the 9th September 2019, 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) announced it had entered into an agreement with MaxSolar GmbH to acquire a 750 kWp installation in Gumtow (Brandenburg) with the option to extend the project with a further 4.5 MWp  during H1’20. Today, 7C Solarparken announces the completion of this 4.5 MWp new-build project  enjoying an auction tariff of EUR 63.6/MWh for 20 years. Due the higher efficiency of these panels, a second extension project of 750 kWp with Suntech modules and Delta inverters, could be realised as well. Finally 7C Solarparken purchased a small portion of the land (1.9 ha).

  Steven De Proost, CEO of 7C Solarparken AG, comments: "The completion of the Gumtow projects  has, amid the outbreak of CoVid-19, taken longer than scheduled mainly due to time delays in the permitting and grid connection process, but in the end the project reached a size of 6 MWp, which  is 750 kWp more than initially planned. This lifts the IPP portfolio of 7C Solarparken to 215 MWp, which is close to our year-end target of 220 MWp. Further growth beyond this mark will, as highlighted in our strategic plan, require new proceeds from equity funding.”

  7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 215 MWp, including 6 MW onshore wind. Including, its asset management activities, the group`s managed portfolio stands at 292 MWp. Nearly all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

   

   

   

   

• 22.06.2020 7C Solarparken AG: 7C Solarparken AG has commissioned its first floating PV installation.

  
  Bayreuth (pta007/22.06.2020/07:50) - Bayreuth, 22.06.2020 - 7C Solarparken AG (WKN: A11QW6 / ISIN: DE000A11QW68) invests for the first time in a floating PV installation. The park nearby Salzwedel has a capacity of 729 kWp and is equipped with Longi panels and Huawei inverters. Solar WO Engineering, as long-term EPC contractor to the company, has erected the project and opted for the mounting structure of Ciel & Terre, a clear market leader with almost 200 floating installations. The PV installation is "swimming" in a lake that is used by the local environmental utility as a large water storage reservoir. Buoys keep the installation on the water surface. Due to above-normal cooling conditions, the park should generate a relatively high Performance Ratio (>85%) so that management assumes production in excess of 729 MWh, sufficient to supply an equivalent of 200 households. A fixed feed-in tariff of EUR 68/MWh will apply. The group's IPP portfolio is raised to 210 MWp versus 190 MWp at year-end 2019.

  Steven De Proost, CEO of 7C Solarparken AG comments: "Floating PV is a relatively new technology that has the potential to be installed on waste water and drinking water reservoirs, industrial ponds and unused mine lakes. Construction of the plant went very smoothly, and we also believe that the installation will be relatively easy to maintain."

  PV Estate further enlarged by 6.8 ha

  7C Solarparken also purchased 6.8ha land in an industrial zone in Lüptitz. The land accommodates already an existing PV plant of ca. 6 MWp which is owned by a third-party investor. Annual rental fees of EUR 50T are secured until the end of the feed-in lifetime (2032). Through this additional investment, the company now owns a PV Estate portfolio of 140 ha.
  (end)

   

   

   

• 
  29.05.2020 7C Solarparken AG reports EBITDA increase by 13% in Q1’20. Full-year EBITDA guidance raised.

  • Driven by a 21% increase in weighted operational capacity to 191 MWp and positive weather conditions - particularly during the second half of March ’20 - total output in Q1'20 rose by 41% to 35 GWh (Q1’19: 25 GWh).

  
  • Revenues increased by 29% to EUR 8.4 Mio (EUR 6.5 Mio. in Q1’19) of which EUR 7.5 Mio. related to the production and sale of electricity. The underlying increase in revenues (+ EUR 1.9 Mio.) can be explained by two main drivers:  (1) the two wind parks, acquired during 2019 and fully consolidated for the first time this quarter, contributed EUR 0.6 Mio to sales, while (2) exceptional sales of services in the amount of EUR 0.7 Mio. stem from a panel-exchange program in a closed-end fund managed by the group.

  
  • EBITDA rose by 13% to EUR 6.9 Mio (EUR 6.1 Mio in Q1’19) on the back of continuous capacity growth. As the many new-build projects, added to the group’s portfolio over the last twelve months, enjoy lower feed-in tariffs (combined with a lower per MWp investment cost) compared to the existing portfolio, the average feed in tariff has decreased further to EUR 222/MWh (Q1’2019: EUR 256/MWh). The effect of EEG §51 under which projects built since 2016 do not obtain a feed-in tariff in case the day-ahead price for power has been negative for at least six consecutive hours, negatively impacted sales of electricity by ca. EUR 0.1 Mio during Q1’20.

  
  • Net debt at the end of Q1’20 rose to EUR 171 Mio. in comparison to 2019YE (EUR 163 Mio).

  
  • Over the last weeks, 7C Solarparken has slightly reshuffled its IPP portfolio.  First, 7C Solarparken extended its rooftop installation in Ludwigsfelde (Brandenburg) by a further 748 kWp.  The project was constructed by Goldbeck Solar using Renesola panels and Sungrow inverters. Furthermore, 7C Solarparken has divested its 2.5 MWp small rooftop portfolio “Surya 1”. As a result, the IPP portfolio stands at 209 MWp as of today.

  
  • The guidance for the full-year 2020 (EBITDA of EUR 36 Mio.) did not take into account the excellent weather in the second half of March. Secondly, the group has increased its operating portfolio beyond 200 MWp, i.e. the capacity on which the EBITDA guidance was based. Therefore the Management decided to increase its outlook for EBITDA 2020 to “at least EUR 37.0 Mio.”. The Management is still comfortable to raise its portfolio to 220 MWp before year-end driven by (1) various projects under development for which already a tender tariff (FFAV) has been awarded, (2) a few parks that are in acquisition and (3) the government’s recent decision to eliminate the 52 GWp cap in Germany.

  
  • Due to the continued health and safety concerns associated with the CoVid 19 pandemic, the group will hold its Annual General Meeting (AGM) on July 17, 2020 by means of a virtual meeting, i.e. without a physical presence of the shareholders. The AGM’s invitation will be published on the website in the coming weeks.

  
  • Steven De Proost, CEO of 7C Solarparken AG, comments: “Our business activity year-to-date has been boosted by a 10% expansion of the IPP portfolio from 190 MWp to 209 MWp. From a strategic viewpoint, we are also on track with the realisation of our goals for 2020, i.e. a further increase of the portfolio to 220 MWp, the integration & optimisation of recently acquired PV parks, and the plan to increase our participation in selected funds, managed by the group with the objective to achieve the full consolidation of one fund as from 2021.

  
  • The Q1’20 report is available in the Investor Relation section on our website.

   

   

• 28.04.2020 - IBC SOLAR and 7C Solarparken strengthen partnership

  
  Solar power plant operator 7C Solarparken acquires new 10 MWp solar park in Hesse, Germany, which was realised by IBC SOLAR. At the same time, the system house from Upper Franconia takes over the maintenance and service (O&M) for a total of 111 MWp of the 7C portfolio.

  Bad Staffelstein / Germany, April 29, 2020 – IBC SOLAR AG, a global leader in photovoltaic (PV) systems and energy storage and 7C Solarparken AG (WKN A11QW6, ISIN: DE 000A11QW68), a listed solar power plant operator with focus on the German solar market, are strengthening their excellent cooperation that has been existing for years.

  7C Solarparken AG has acquired another open-space solar park developed, planned and built by IBC SOLAR AG with a total nominal output of 10 MWp at the Oberwesterwaldbahn site in Hesse, Germany (Dornburg and Elbtal communities). A total of 36,300 solar modules now generate climate-friendly solar power between Dornburg and Elbtal. The 16.44-hectare solar park is equipped with modules from URE (merger of Neo Solar Power, Solartech and GINTECH) and receives an average feed-in tariff of 6.08 ct / kWh.

  As part of the in-depth partnership, IBC SOLAR not only takes on preventive maintenance services for the newly acquired solar park, but also for another 101 MWp of open and roof area systems from 7C Solarparken AG. Overall, the system house therefore performs preventive services, including medium-voltage protection tests for over 111 MWp of the 7C portfolio.

  “With the acquisition, our portfolio increases to over 210 MWp. As a result of this transaction, we are already close to our target of 220 MWp in April,” said Steven De Proost, CEO of 7C Solarparken AG. "The new partnership with IBC SOLAR enables us to continually ensure the concentration on repairs, monitoring and optimization of the systems in-house and to ensure the necessary preventive maintenance and service work by an experienced and well-known partner."

  "We are pleased about 7C's confidence in the quality and performance of our company and are very proud to be able to extend our partnership cooperation extensively to the area of technical management," adds Udo Möhrstedt, CEO of IBC SOLAR AG. "In addition to the contribution to climate protection, renewable energies also have considerable economic potential, especially in and after times of crisis, which must be exploited."

  Ralf Hennig, Head of Projects Germany, adds: “The fact that we map the entire value chain of project business - from project development, planning and implementation to contract design, financing and technical management (O&M) - also results in many economic advantages for our customers. The overall risk is minimized, and the value retention and profitability of the PV system is increased."

   

   

• 08.04.2020 - 7C Solarparken achieves a record EBITDA of EUR 38.1 Mio in 2019. Equity Ratio rises to 32.3%

  Bayreuth, April, 08 2020 In line with earlier indications, the Management Board of 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) will propose to keep its dividend unchanged at EUR 0.11/share at the upcoming Annual Meeting, (approx. one third will be exempt from German withholding tax) reflecting the  stable cash flows generated by the underlying business model.

  However, the Annual Meeting, which was previously scheduled for end of May 2020, will be postponed until further notice due to the ongoing CoVid-19 situation.

  
  In the financial year 2019 7C Solarparken has exceeded once again its EBITDA and CFPS guidance. Firstly, the group achieved a record EBITDA of EUR 38.1 Mio. versus EUR 35.1 Mio. the year before.  In view of the unprecedented sunshine in 2018, the group’s performance has developed very positively mainly reflecting (i) the build-up of its IPP portfolio from 154 MWp to 190 MWp, (ii) another year of above-average weather conditions and (iii) a number of one-time items including a settlement with a module supplier. Furthermore, the first-time adoption of the IFRS 16 standard has raised EBITDA by EUR 0.8 Mio. The group’s Cash Flow per Share (CFPS) amounted to EUR 0.55, versus the initial prognosis of EUR 0.50 and the revised guidance in December 2019 of “at least EUR 0.52”. Apart from the outperformance in EBITDA, the average cost of debt has fallen  from 2.8% to 2.6% and contributed to the improved results. Strengthened by two capital increases, the group’s equity ratio rose to 32.3% and illustrates the solidity of the balance sheet which is of the utmost importance during the current uncertain times.

  
  Outlook 2020

  
  The guidance for the financial year 2020 is based on a fully operating portfolio of 201 MWp (as from the end of June 2020) without further growth and assuming a return to a moderate irradiation year. Although the current CoVid-19 crisis has no direct repercussions on our long-term goals, there are however short-term effects. Since the start of the lock-down situation, the number of days during which we observe negative electricity prices is rising fast due to a 15% fall in electricity consumption since the start of the lock-down. According to par. 51 of the EEG 2017 law, renewable energy assets commissioned after 01.01.2016 do not receive a feed-in tariff for their production during a period of at least six consecutive hours of negative prices. Under the cautious assumption that the current lock-down will last until the end of June 2020, management estimates a negative impact on revenues of EUR 0.4 Mio. (ca. 1% of annual revenues). Furthermore, the current CoVid-19 situation is also leading to an increase of risk for plant outages as some industrial and retail rooftop installations are no longer accessible. The required maintenance schedules is, due to difficulties in staff accommodation and logistics, hard to fulfil with own staff. As a result, management has decided to seek a partnership with an external firm. Total EBITDA effect arising from the CoVid-19 situation is currently estimated at EUR 0.8 Mio. The company expects that also chances will arise given that many developers and asset owners underestimate the negative effects of lower electricity prices while many new projects will not meet their time budgets. The PPA market has dried up in view of the negative prices.
  Amid these market conditions, 7C Solarparken group sets its guidance for 2020 at EUR 36 Mio. EBITDA and EUR 0.48/share CFPS. Upon having achieved all strategic goals during 2020, including ramp-up of the portfolio up to 220 MWp, EBITDA and CFPS should still rise to EUR 41.3 Mio and EUR 0.57/share resp. under normal weather conditions.
  Steven De Proost, CEO of 7C Solarparken AG: "For 7C Solarparken, the priority is to keep producing electricity at all our PV plants with a minimum of business interruptions. We are in an excellent position due to the fact that 84% of our revenues is originated from PV plants commissioned prior to 2016, so that even negative prices have no effect on their production. In these challenging times, we are still very optimistic to meet our 220 MWp target before year-end 2020.”
  Annual Report 2019.

  
  The Annual Report is available at the website of the company under "Investor Relations". A conference call for analysts is planned on 08. April 2020 at. 3:00 pm

   

   

• 26.02.2020 - 7C Solarparken AG: target 200 MWp reached !

  Bayreuth, 26.02.2020 – 7C Solarparken AG (WKN: A11QW6 / ISIN: DE000A11QW68) has grown its IPP Portfolio to the milestone level of 200 MWp through a series of new-build investments as well as acquisition of operating PV installations across Germany. Following installations have been added to the portfolio during the last few weeks:

  
  * 0.6 MWp rooftop installation in Bernterode, Thuringia: A new-build project with components from Q-Cells and Huawei.  The project enjoys a fixed feed-in tariff of EUR 84/MWh, but is not yet grid-connected.
  * 0.6 MWp rooftop installation in Noßwitz, Sachsen. A new-build project with components from Canadian Solar and Huawei.  The project enjoys a fixed feed-in tariff of EUR 87/MWh and has been connected to the grid since Q4’19.
  * 0.7 MWp rooftop project in Luckow, Mecklenburg Vorpommern. A new-build project equipped with JA Solar and Fronius, commissioned early 2020 with a tariff of EUR 80/MWh and is awaiting its grid connection.
  * A portfolio of 1.9 MWp in Parchen and Wieglitz, Saxony Anhalt. These two rooftop projects were commissioned during 2016-17 at an average tariff of 107/MWh and are equipped with Q-Cells panels and Huawei inverters.
  * Freefield installations in Calbe, Saxony Anhalt with a total capacity of 2 MWp. Two PV parks have been constructed at two different locations in the same municipality and were fully developed in-house. MaxSolar GmbH acted as EPC contractor, panels of Amerisolar and Renesola were installed. Although commissioning of the plants took place in January 2020, grid connection is scheduled only within a few months. Noteworthy is that a small part of the project will sell its electricity on the market and therefore not obtain a feed-in tariff. Both projects have been built on the group’s own land, i.e. part of the PV Estate portfolio.
  * Acquisition of an operational rooftop portfolio of 4.4 MWp across three locations: Wittlich (close to Trier, Rhineland Palatine), Remptendorf (Thuringia) and Dessau (Saxony Anhalt). All installations were commissioned during 2018-19 with panels from Bisol and Suntech, and inverters from SMA. The installations enjoy an average tariff of ca. EUR 100/MWh. 7C Solarparken also acquired the plot of land (0.9 ha) including a logistics building in Dessau

  Steven De Proost, CEO of 7C Solarparken AG, comments: “In an effort to facilitate value creation for our shareholders, we have promised to grow into a Tier-two player, meaning owning a 200 MWp IPP portfolio and/or a 200 Mio euro market cap. Measured by both metrics, we have now achieved that objective. The management’s focus for 2020 will now be on integration of recent investments, optimisation of plants and further growth up till 220 MWp. Evidently, we remain on the look-out for opportunities which might bring us closer to our long-term target of 500 MWp including Asset Management.”

   

   

• 10.12.2019– 7C Solarparken presents its Next Three Years Plan

  
  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) presents  its Plan “Integrate Growth, then Scale Up to 500 MWp”  today.

  Integrate Growth
  Following accelerated growth during  the last two years, management plans to shift short-term focus on integration and optimisation, while still planning to meet its capacity target of 220 MWp at the end of 2020. The targeted growth up till 220 MWp will mainly come from projects developed in-house which have reached a ready-to-build status or are close to obtaining final permits.

  The primary goal for 2020 however, is to integrate recent growth. Firstly, there are PV installations, amounting to 6 MWp in total, which were commissioned during 2019, but due to long delivery times for transformers are not connected to the grid yet. Secondly, management plans to increase operational efficiency of multiple operating parks, which have been acquired during the last three years through replacing panels, cables and connectors. Thirdly, the company will allocate capital to some parks, which are part of its Asset Management business. Amongst others, 7C Solarparken has submitted a takeover bid on the largest underperforming fund which it considers unsuitable for retail investors due to technical risks. Through the bid and other capital-intensive initiatives, the management assumes control (and full consolidation) can be achieved, even with a minority position, as from 2021.  The entire integration program will cost EUR 7.2 Mio. of which EUR 5 Mio relates to building up equity stakes in the underlying projects of the Asset Management business. The successfully closed rights issue of EUR 8 Mio. enables prompt execution of the Integration plan.

  Then scale up to 500 MWp
  7C Solarparken will continue to strive towards turning its Vision 2025 (500 MWp) into reality. The aim is to enlarge the full capacity including Asset Management from currently 267 MWp (190 MWp IPP plus 77 MWp Asset Management) to 500 MWp by the end of 2022 already. The IPP Portfolio is targeted to expand to 350 MWp through participating into M&A and consolidation trends, and capturing opportunities from an accelerating new-build market in Germany. Concerning the Asset Management business, the company targets horizontal expansion leveraging its acquired platform but also considers to apply for an own fund management license to enable (co-)investment chances with large institutional investors. In total, management sees the need for additional project equity capital to grow to 500 MWp at EUR 44 Mio. Hereof, EUR 14 Mio should stem from alternative financing which, thanks to the strong Equity Ratio of over 31%, is again being actively considered. The remainder of EUR 30 Mio. will be raised through private placement, rights issue and/or contribution in kind in a similar way to the previous years.

  Financial Targets
  Upon realising its 220 MWp objective, 7C Solarparken expects to generate annual EBITDA of EUR 42 Mio and a Cash Flow per Share of EUR 0.57 as from 2021. Assuming the 500 MWp capacity showcase and the required financing for it, CFPS will potentially to rise to at least EUR 0.60/share after 2022. The group’s dividend policy remains unchanged, meaning the dividend will follow the trend in cash flow per share. The dividend for the financial year 2019 will remain stable at EUR 0.11/share.

  Investor Meeting
  7C Solarparken AG will hold its investor meeting at the MKK Conference in Munich on December 10, 2019. The slideshow will already be available on the website www.solarparken.com at 09.00h CET.

   

   

• 27.11.2019 – Record 9M EBITDA of EUR 35.1 Mio leads to guidance increase. Portfolio Growth to 190 MWp.

  Management report summary on the nine-months results of 2019

  • Total power production in the first nine-months of 2019 rose by 16.9% to 149 GWh on the back of a surge in weighted average capacity (+22% to 160 MWp). Despite having another summer of extreme heat waves and severe droughts, the record irradiation observed during 2018 could not be repeated. Regardless, 7C Solarparken reports a specific yield of 923 kWh/kWp over the first nine months, only 2.7% below last year’s exceptionally high figure.

  • Nine-months EBITDA rose by 10.7% to EUR 35.1 Mio. Aside from continuous capacity growth, EBITDA also benefited from several one-offs. These one off items includes gains from business combinations (badwill) of  EUR 1.0 Mio., a settlement with a module supplier of EUR 0.6 Mio. as well as a reduction of EUR 0.7 Mio. in rental expenses compared to the first nine months of 2018 due to the adoption of IFRS 16 as from Jan, 1st 2019.

  • Reflecting solid cash flow generation and the proceeds of the private placement in June 2019, net debt dropped by 4.5% (versus year-end 2018) to EUR 154.5 Mio.

  Guidance for 2019

  The company increases its full-year guidance to “revenues of at least EUR 42.0 Mio.” and “an EBITDA of at least EUR 37.5 Mio.” and changes its cash flow per share guidance to EUR 0.52 per share for 2019. Management will present its new 3-years Strategic Plan on 10 December 2019. The presentation will be held at the MKK Conference in Munich.

  Portfolio raised to 190 MWp

  During the last weeks, 7C Solarparken has further raised its IPP portfolio to 190 MWp compared to 187 MWp at the end of September 2019 and 154 MWp at the end of last year. The new rooftop PV park of almost 2.3 MWp is located in Gustrow (Mecklenburg Western Pomerania) and has been acquired, free of debt, from E.ON Energie. The installation was commissioned during 2016 and therefore enjoys a feed-in tariff of EUR 99/MWh.

   

   

• 26.09.2019 – Strong growth in power production and EBITDA during H1’19

  
  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has announced its first-half results.

  Total production output grew by 27% to 91 GWh driven mainly by expansion of the running capacity to 159 MWp (+25%). Weather conditions did hardly change in comparison to last year’s first six months, but irradiation still exceeded slightly the long-term average.

  Consolidated revenues rose to EUR 22.8 Mio. versus EUR 20.4 Mio in H1’18 reflecting a combination of increased output and a declining average tariff due to changes in the capacity mix. Latest acquisitions and new-build installations indeed enjoy lower feed-in tariffs than the older plants in the portfolio. EBITDA increased from EUR 18 Mio to EUR 21.5 Mio thanks to increased power sales and the positive impact of IFRS 16 (+EUR 0.5 Mio) which reclassifies lease & rental expenses out of EBITDA into depreciation and financial expenses.

  Cash Flow Per Share continued its upward trend and rose to EUR 0.33 per share in the first half of 2019 versus EUR 0.32 per share during H1’18. Although weather conditions in the third quarter fully normalised in 2019 against the exceptional summer of 2018, management is highly confortable to reach its full-year guidance of at least EUR 35 Mio. EBITDA and at least EUR 0.50 Cash Flow Per Share.

  Although IFRS 16 is expanding the balance sheet, the group has further raised its equity ratio to 30.7%.

  Steven De Proost, CEO of 7C Solarparken, comments: “Again, we have demonstrated that our growth strategy to become a Tier-2 player in combination with financial disciplin to maintain a strong equity ratio is supporting the underlying numbers. We will maintain our approach that has contributed to our success to date, which consists in relying on predictable cash flows from feed-in tariffs coming from smaller installations. The new Climate Package adopted in Germany with a planned removal of the 52 GWp cap is a clear signal that feed-in tariff projects are the preferred market route.”

  7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 187 MWp, including 6 MW onshore wind. Including, its asset management activities, the group`s managed portfolio stands at 264 MWp. Almost all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

  Close

• 09.09.2019 - New-build acquisition package signed with MaxSolar GmbH

  
  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has acquired two two new-build projects from MaxSolar GmbH and comes closer to its 200 MWp objective. The closing of the transactions is still subject to standard conditions precedent.

  Firstly, the company purchased the largest rooftop solar power system in Hesse which has been installed in Dieburg at 90,000 square metre logistics facility owned by Union Investment and operated by Fiege. The photovoltaic unit of 6.4 MWp went operational in April 2019 and has been equipped with the new Schletter FixGrid 18 system, panels from Hanwha Q-Cells and string inverters from Kaco. This capacity makes the Dieburg solar power plant one of Germany's five largest rooftop systems. The project has obtained an average tariff of EUR 61/MWh through the tender (FFAV) scheme, but it can not be excluded that the green power will be sold at higher prices to local off-takers in the industrial zone.

  Secondly, 7C Solarparken and MaxSolar GmbH entered into an agreement to acquire a 750 kWp installation in Gümtow (Brandenburg). The project has been commissioned in June 2019 at an EEG tariff of ca. EUR 75/MWh with components from Astronergy and ABB. In addition, construction of another 4.5 MWp at the same site is planned to begin in Q4'19. The extension has obtained its tariff through the tender scheme and will enjoy ca. EUR 60/MWh. Grid connection though is foreseen only in the first semester of 2020.

  Through these both transactions, the company's IPP portfolio climbs further to 187 MWp and even to 192 MWp when including already the 4.5 MWp EPC contract for the extension of Gümtow in Q4'19.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "Growth remains the central theme for 2019. With a stated objective of 220 MWp by year-end 2020 versus 154 MWp at the start of 2019, we are clearly exceeding our plan. Aside from the sale of two plants, we also welcome MaxSolar GmbH as a new EPC partner to construct projects out of our in-house development pipeline."

  7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 187 MWp, including 6 MW onshore wind. Including, its asset management activities, the group`s managed portfolio stands at 264 MWp. Almost all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

• 02.08.2019 – 7C Solarparken AG: IPP Portfolio climbs to 180 MWp, keeping potential for further growth

  Bayreuth (pta015/02.08.2019/10:15) - 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has announced additional investments with the goal to further scale its business into a Tier-two player which the company defines as "at least 200 MWp and/or at least EUR 200 Mio. market capitalisation".

  The following installations have been added to the portfolio

  * 750 kWp freefield PV in Gorgast, Mecklenburg-Western Pomerania: the asset has been acquired from Juwi, a leading German development & EPC company. The asset's main components are manufactured by Jinko (panels) and ABB (inverters). The project enjoys a fixed feed-in tariff of EUR 81/MWh.

  * A total of 3 MWp of landfill projects near Chemnitz, Saxony, will be commissioned during August of this year. The additional capacity is an extension to three existing sites in Flöha, Himmelsfurst and Falkenau. The feed-in tariff will likely be around EUR 70/MWh for 20 years. The assets' modules were supplied by Amerisolar, inverters by Sungrow. Project development was executed by the company's own development team.

  * A rooftop portfolio of 1.8 MWp in Eastern Germany. The different sub-installations are equipped with modules from Yingli and Trina Solar, and have been commissioned in the period between April and June 2019. Therefore they enjoy an average tariff of ca. EUR 90/MWh. The projects' grid connection is scheduled for the fourth quarter of the year.

  * 750 kWp rooftop project in Langelsheim, Lower Saxony. The installation is under construction and will be commissioned in August 2019 with a feed-in tariff of ca. EUR 85/MWh for 20 years. 7C Solarparken opted to install Q-Cells panels and SMA inverters. The asset will be grid connected before year-end 2019.

  * 3,075 kW windpark in Stetten, Rhineland-Palatinate. Comparable to the company's wind park in Medard, this wind project has been developed by Juwi also. The Vestas turbine is fully operational since the end of 2015 and scheduled to produce above 7,000 MWh per year. The feed-in tariff enjoyed by the wind turbine is EUR 89/MWh.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "Since the start of the year 2019, our IPP portfolio has increased from 154 MWp to 180 MWp already, even when excluding the PV asset management business (77 MWp) which we acquired earlier this year. Furthermore, our growth trend into the rest of the year looks intact due to a strong pipeline of acquisition and own development projects."

  7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 180 MWp, including 6 MW onshore wind. Including its asset management activities, the group`s managed portfolio reaches 257 MWp. Almost all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.
  

    

• 28.05.2019 – 7C Solarparken AG reports EBITDA up by 42% in Q1’19. Portfolio raised to 171 MWp

  
  • Driven by a 30% increase in installed capacity and improved weather conditions, the total output in Q1'19 rose by 48% to 25 GWh
  • EBITDA in Q1’19 rose +42% to EUR 6.15 Mio. versus last year’s level (EUR 4.3 Mio). Aside from continuous capacity growth and positive weather effects, EBITDA also benefited from a EUR 0.6 Mio. settlement agreement with a module supplier and from the implementation of the new IFRS 16 standard (+EUR 0.2 Mio) that no longer treats lease payments as operational expenses.
  • Guidance for the full-year 2019 (EBITDA at least EUR 35 Mio.) already assumes the strong Q1 results in full.
  • The Q1’19 report is available in the Investor Relation section on our website.
   
  Over the last weeks, 7C Solarparken has further raised its portfolio from 167 MWp to 171 MWp.  Firstly, 7C Solarparken extended its rooftop installation in Ludwigsfelde (Brandenburg) by another 750 kWp.

  The project has been built by Goldbeck Solar which installed Astronergy panels and Sungrow inverters. Secondly, a new rooftop installation of 0.6 MWp has been constructed in Plötzky (Sachsen Anhalt) with components from Eging and SMA. And thirdly, a new-build freefield park of 2 MWp has been connected to the grid in Schmidöd (Bayern) with Sunrise panels and Sungrow inverters. While the rooftop projects are granted a fixed feed-in tariff of approx. EUR 90/MWh, the installation in Schmidöd enjoys a tariff that stems from the auction process (FFAV) obtained during 2018. Further projects are currently under construction and acquisitions are in different stages of negotiation.

  Management remains confident to reach its 220 MWp target before the end of 2020.

    

•  23.04.2019 - 7C Solarparken AG posts record EBITDA of EUR 35.1 Mio in 2018.

  Bayreuth, April, 23^rd 2019 – the Management Board of 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) will propose a dividend increase from EUR 0.10/share to EUR 0.11/share (exempt from German withholding tax) at the upcoming Annual Meeting on the 7th of June 2019.

  The increase in dividend reflects a very positive year for the group. 7C Solarparken succeeded in significantly improving all key metrics driven by (1) unprecedented weather conditions during 2018, (2) a consequent build-up strategy in installed PV capacity (from 118 MWp to 154 MWp throughout 2018) and (3) regular access to equity & alternative financing.

  In 2018 the group achieved a record EBITDA of EUR 35.1 Mio. and a Cash Flow Per Share of EUR 0.60. Latest guidance, issued during our Plan 2018-20 Presentation in November 2018, assumed EBITDA of at least EUR 33 Mio. and Cash Flow Per Share of at least EUR 0.52. It is noteworthy that the Cash Flow Per Share has been positively impacted by deferred payments in interests and taxes, and evidently also includes positive weather effects of EUR 3.2 Mio. (equivalent to EUR 0.07/share). The balance sheet of the group has been further strengthened with an equity ratio in excess of 30% at the end of 2018.

  Outlook 2019-20

  The group has announced its intention to grow into a tier-two player with a capacity of at least 220 MWp (IPP) by 2020 and 500 MWp (IPP + Asset Management) by 2025. Within the first four months of 2019, 7C Solarparken acquired the Asset Management platform (77 MWp) of Ernst Russ and increased its IPP portfolio further by 13 MWp from 154 MWp to 167 MWp.

  The guidance for the financial year 2019 has been determined based on a fully operating portfolio of 154 MWp (end of 2018) and a progressive ramp-up of the 13 MWp new installations until the end of Q1'19. Furthermore, management assumes a return to a moderate irradiation year and does not incorporate any further acquisitions. On this conservative basis, EBITDA guidance is seen at "at least EUR 35 Mio", while Cash Flow Per Share should reach at least EUR 0.50/share for 2019 rising to EUR 0.57/share upon full execution of the 2018-20 Plan".

  Steven De Proost, CEO of 7C Solarparken AG: "Last year, we promised our shareholder to raise capacity to 150 MWp and to create further room for dividend increases on the back of strength in CFPS. High levels of irradiation have not solely boosted our returns, but it also demonstrated that PV is a cornerstone in the electricity system particularly in times of heat and low rainfall which structurally may have come as a result of climate change. Our key challenge now is to grow quickly to 200+ MWp & 200 Mio EUR market capitalisation, and to expand the shareholder base in order to develop into a 500 MWp player."

  Annual Report 2018

  The Annual Report is available at the website of the company under "Investor Relations". A conference call for analysts is planned on 23. April 2019 at 13.30h.

    

•  19.02.2019 - 7C Solarparken AG reports substantial deal flow strengthening its long-term business

  
  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has announced a series of new investments with the goal to scale its business into a Tier-two player. The group reports i) the acquisition of three operating PV assets across Bavaria and Mecklenburg-Vorpommern, ii) opportunistic entry in the wind market through  the investment in a German wind farm and iii) the acquisition of asset management contracts of a PV portfolio with a size of 77 MWp. The acquisitions -which are still subject to common transactional conditions precedent-  represent an investment volume of EUR 14 Mio. of which ca. 65% is financed through takeover of the existing project debt facilities, and are expected to contribute EUR 1,4 Mio. to annual EBITDA under normal weather conditions.

  
  Investment in three operating PV parks across Bavaria and Mecklenburg-Vorpommern
  • Acquisition of a 1.1 MWp freefield PV park in Blankenberg (Mecklenburg-Vorpommern) that is equipped with NexPower panels and Kaco inverters. The park enjoys a feed-in tariff of EUR 319/MWh (Commissioning in 2009) and runs around 850 kWh/kWp.
  • Acquisition of a 1.5 MWp freefield PV park in Glasewitz (Mecklenburg-Vorpommern) that is equipped with NexPower panels and Kaco inverters. The park enjoys a feed-in tariff of EUR 284/MWh (Commissioning in 2010) and runs around 850 kWh/kWp.
  • Acquisition of 0.6 MWp freefield PV park in Stephansposching (Bavaria) that is equipped with Trina Solar panels and Kaco inverters: The park enjoys a feed-in tariff of EUR 355/MWh (Commissioning in 2008) and runs around 1,000 kWh/kWp.

  
  Opportunistic entry in a German wind farm
  7C Solarparken announced its first-ever investment in a German wind farm, driven by opportunistic grounds as by the strategic consideration that the risk profile of the group´s output would further fall until an optimal level of 90% PV and 10% onshore wind is reached. The wind farm of 2.78 MW entered operations during 2016 and consists of one turbine General Electric and is located in Medard, Rheinland Pfalz. The wind turbine enjoys a feed-in tariff of EUR 86/MWh and is expected to generate EUR 0.6 Mio annual revenues.

  
  Acquisition of asset management business for a PV Portfolio of 77 MWp
  7C Solarparken and Ernst Russ have agreed on a transaction in which Ernst Russ sells its PV asset management business on 77 MWp operating assets. The deal will bring recurring management fees to 7C Solarparken and fits into the group´s vision to reach 500 MWp by 2025 including assets under management. The underlying assets match very well with the acquisition profile of 7C Solarparken in terms of geography, components, and performance.

  
  Steven De Proost, CEO of 7C Solarparken AG, comments: “The start of the year 2019 has been very eventful. During January, we expanded our portfolio from 154 MWp to 160 MWp, and now we reach 166 MWp. The acquisition of our first wind turbine ever, and the PV asset management platform of Ernst Russ create the scalability that 7C Solarparken needs as to grow into a credible Tier-2 player. Although management´s focus will now temporarily shift from growth into smooth integration of all acquisitions, further growth of the IPP portfolio remains high on the agenda for 2019.”

  
  7C Solarparken is a pure-play PV owner/operator with an IPP portfolio of 166 MWp, including 2.8 MW onshore wind. Including, its asset management activities, the group`s managed portfolio stands at 243 MWp. Almost all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

• 08.01.2019 – 7C Solarparken AG announces the acquisition, construction and commissioning of numerous PV projects, and lifts IPP portfolio to above 160 MWp 

  7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) is increasing its IPP portfolio from 153 MWp to above 160 MWp. During Q4’18 two projects were commissioned: (1) the extension of Dähre (Sachsen-Anhalt), a 640 kWp rooftop installation with a tariff of EUR 108/MWh, and (2) a 648 kWp freefield on own land in Weißenfels (Sachsen Anhalt) with a tariff of EUR 86/MWh.

  Furthermore, following projects are currently under construction with a scheduled commissioning in January 2019 and grid connection during Q2’19.

  • Extension of Umpferstedt (Thuringen): 423 kWp freefield on own land with an estimated tariff of EUR 83/MWh
  • Extension of Wallstawe (Sachsen-Anhalt): 750 kWp rooftop installation with an estimated tariff of EUR 104/MWh
  • Two rooftop installations in Neustadt/Coburg (Bayern) totalling 748 kWp with an estimated tariff of EUR 104/MWh
  • 750 kWp in Aerzen (Niedersachsen) with an estimated tariff of EUR 104/MWh
  • 750 kWp in Bünde (Nordrhein Westfalen) with an estimated tariff of EUR 104/MWh
  • A specific portfolio of 2.4 MWp rooftop projects across Mecklenburg Vorpommern with an estimated tariff of EUR 104/MWh

  For the new projects, PV panels have been sourced directly from REC, Sunrise, Eging, Talesun and Amerisolar. Inverters were supplied by SMA, Huawei and Sungrow.

  In the first days of 2019, 7C Solarparken AG also decided to buy an operating rooftop installation of 0.9 MWp in Oppin (Sachsen Anhalt). The park has been equipped with First Solar panels and SMA inverters, and enjoys a feed-in tariff of EUR 308/MWh owing to its grid connection in 2010.

  The new assets acquired, commissioned and under construction represent an acquisition volume approx EUR 9 Mio. and are expected to generate annual revenues of ca. EUR 0.9 Mio.

  Steven De Proost, CEO of 7C Solarparken AG, comments: “We are very satisfied with the remarkable growth in capacity during the year 2018. Our portfolio climbed from 118 MWp to 154 MWp at year-end 2018 and even to slightly above 160 MWp when taking into account today’s announcements. New-build projects and operating asset acquisitions are currently under development respectively in review, and will support the company on its way to 220 MWp by 2020.”

  PV Estate portfolio climbs from 98ha to 110ha during 2018

  During 2018, 7C Solarparken has enlarged its PV Estate portfolio through the following land acquisitions: Umpferstedt (2.2ha), Demmin (2.2ha), Weißenfels (1.1ha), Calbe (1.8ha), Zschornewitz (4.1ha) and an additional plot in Umpferstedt (0.6ha). A total of 5.7 MWp of freefield PV parks has been constructed on these sites.

   7C Solarparken 7C Solarparken AG is a pure-play PV owner/operator with an IPP portfolio of above 160 MWp. Almost all installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

• 28.11.2018 – 7C Solarparken AG increases full-year 2018 Guidance and presents its Plan 2018-20

  During the first nine-months of 2018, 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has accelerated its profitable growth thanks to a steep increase in capacity (+28%) and record irradiation across Germany. Power production rose by 38% to 127 GWh and drove EBITDA up from EUR 26.9 Mio. in last year’s comparable period to EUR 31.7 Mio. in the first nine-months of 2018. Since the group also benefited from one-time EBITDA gains of EUR 1.9 Mio, its full-year EBITDA guidance of “at least EUR 31 Mio.” has been clearly reached and is now raised to EUR 33 Mio. Net debt at the end of September 2018 remained stable at EUR 163.6 Mio. versus end of June 2018.

  Plan 2018-20 headlines

  • • Reaching Tier-two status remains main objective as to benefit from lower cost of capital and improved valuation
  • • Investment plan of over EUR 100 Mio. should lift IPP portfolio to 220 MWp by 2020: The additions on existing 153 MWp capacity will be originated through a mix of new-build development and acquisition of operating parks in Germany, alongside small M&A and selective international opportunities. Management estimates that, upon full execution of the plan at the end of 2020, its full-year EBITDA will rise to over EUR 41 Mio. and cash flow per share to EUR 0.57. The equity financing of the investment plan should stem from available liquidity (EUR 19 Mio. including the recently completed cash capital increase with issue proceeds of about EUR 5 Mio.) and one or more additional capital increase(s) (EUR 16 Mio.) during 2019-20. 
  • • 500 MWp ambition by 2025 including asset & fund management for third-party investors 
  • • A stable, preferably rising, dividend of at least EUR 0.10/share during 2018-20

  Analyst & Investor Meeting

  7C Solarparken AG will hold its analyst & investor meeting at the German Equity Forum in Frankfurt/Main on November 28, 2018 at 14:00h. The trading update and the slideshow will already be available on the website www.solarparken.com before 08.30h CET.

  9-months figures 2018

  The report of the 9-month figures 2018 is available immediately for download under www. http://solarparken.de/en/publikationen.php.

   

• 26.09.2018 – the Group reports EBITDA of EUR 18 Mio in H1’18 and lifts 2018 guidance to “at least EUR 31 Mio”.

  
  During the first half of 2018, 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has continued its profitable growth.

  In spite of first quarter of 2018 with only limited sunshine, splendid irradiation in Q2’18 turned our key performance indicators to new records. Reflecting a 23% rise in weighted installed capacity and even slightly better meteorological conditions than in H1’17, revenues increased from EUR 18.1 Mio to EUR 20.4 Mio The reported EBITDA increased to EUR 18.0 Mio versus EUR 16.8 Mio in H1’17 which also contained various one-off items.

  
  Even so, the group’s net profit fell back from an exceptional level of EUR 5.1 Mio in the first half of 2017 to EUR 3.9 Mio. Aside from the EUR 1.2 Mio one-time gains in last year’s EBITDA, the drop is mainly due to the year-on-year change in non-recurring financial items. While last year contained a EUR 0.9 Mio non-cash financial income on the refinancing of the Moorenweis solar asset, the first semester of 2018 included EUR 0.8 Mio early redemption penalties, mainly on the Immler project loans (EUR 3.8 Mio and EUR 5.2 Mio resp. which had interest rates of 4.1% and 5.7%). These loans were carried at their nominal value in the group’s figures, leading to a one-off financial expense due to the redemption penalties. However, the early redemption of these loans with fixed rates expiring in 2025, will lead to savings in cash interest paid of over EUR 0.4 Mio in 2018 and therefore the early redemption will prove strongly cash flow enhancing.

  
  The strong operational profitability and a reduced amount of cash interests paid (from EUR 3.2 Mio in H1’17 to EUR 2.7 Mio in H1’18) have boosted cash flow per share to EUR 0.32/share versus a reported figure of EUR 0.28/share last year.

  
  The group’s balance sheet remained very strong with an equity ratio of 29.2%. Net financial debt climbed from EUR 146.6 Mio at year-end 2017 to EUR 163.6 Mio and mainly reflects the emission of the Schuldschein loan (EUR 25 Mio) in Feb ’18. With the schuldschein, management delivered its strategic goal for 2018 to use “alternative financing” to grow to 150 MWp.

  
  From a strategic point of view, the company has also achieved its year-end capacity target of 150 MWp thanks to strong dealflow activity and the acquisition of a new-build pipeline bundled in Amatec Projects GmbH.

  
  IPP portfolio at 153 MWp after acquisition of a small rooftop project in Säritz

  
  The current IPP portfolio stands at 153 MWp following a new acquisition of a 0.6 MWp rooftop park in Säritz. This installation has been equipped with panels from Canadian Solar and Siemens inverters, and enjoys a feed-in tariff of EUR 222/MWh following commissioning in 2012.

  
  Increase of full-year guidance

  
  Thanks to the faster-than-expected capacity build-up and positive weather conditions in the first semester, which fully compensated the sunshine weakness observed during the first three months of the year, management has decided to lift EBITDA guidance for 2018 from EUR 29.6 Mio to “at least EUR 31 Mio”. Also the cash flow per share target of EUR 0.49/share has been raised to “at least EUR 0.50/share”.

  
  Steven De Proost, CEO of 7C Solarparken AG, comments: “These solid results reflect the continued strength of our operating business as well as contributions from recent acquisitions. Although this year’s growth target has been surpassed already, we still see further opportunities and reiterate our objective to grow into a 200 MWp player by the end of next year.”

  
  Earnings Conference Call
  7C Solarparken AG will hold an earnings conference call on September 26, 2018 at 10:00 am CET. Steven De Proost, CEO of 7C Solarparken AG, and Koen Boriau, CFO of 7C Solarparken AG, will discuss the financial results. The slideshow will be simultaneously available on the website www.solarparken.com

   

• 17.08.2018 - 7C Solarparken AG:7C adds further 2.4 MWp to its portfolio, including two new-build installations constructed by E.ON and esetup.

  Bayreuth (pta022/17.08.2018/15:15) - Bayreuth, 17 August 2018 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has invested in three further PV projects in Germany of which two new-build projects. As a result, the group's IPP portfolio will rise to 152 MWp.

  Acquisition of operating 1.1 MWp rooftop installation in Derching
   The rooftop PV park in Derching, situated near Augsburg in Bavaria, has been installed in 2010 with a capacity of 1.1 MWp using components from AU Optronics and AEG. The installation enjoys a tariff of EUR 303/MWh. Assuming a normalised output of 1000 kWh/kWp, the asset will bring annual revenues of above EUR 0.3 Mio per year and has been financed for ca. 80% with project finance carrying an fixed interest rate of 2.1%. The transaction is related to the purchase of the Amatec business earlier this year, through which 7C Solarparken also gained rights of first refusal on operating solar installations. After having acquired already the 2.3 MWp freefield park "Weißer Weg" at the end of May 2018, the installation in Derching is the second and final investment related to the rights of first refusal obtained in the Amatec transaction.

  Acquisition of a completed new-build project of 749 kWp in Friedrichsholm
   7C Solarparken has reached a purchase agreement with E.ON regarding a 749 kWp rooftop installation in Friedrichsholm. The project, which is constructed on agricultural roofs, has secured a feed-in tariff of EUR 111/MWh thanks to its commissioning in June 2018. The project is equipped with panels from Trina Solar and Delta inverters. 7C Solarparken already worked together with E.ON in 2016 for similar projects in Schinne and Steinburg.

  EPC agreement signed for 0.6 MWp rooftop project in Flieth-Stegelitz
   7C Solarparken has secured the project rights to build a small agricultural rooftop of 0.6 MWp in Flieth-Stegelitz, Brandenburg. The construction works will be executed by the Berlin-based contractor "esetup UG" which will install panels from REC Solar in combination with Huawei inverters. The installation is scheduled to be commissioned at the end of September 2018 at a feed-in tariff of EUR 109/MWh.

  Steven De Proost, CEO of 7C Solarparken AG: "Since the beginning of the year, we have already added 34 MWp of new capacity to our portfolio and clearly exceeded our year-end target of 150 MWp. The recent capital increase has provided us the necessary firepower to finance the construction phase of new projects which otherwise would have remained in the pipeline until 2019. The context for new investments remains attractive given falling panel prices due to a slowdown of PV demand in China, and low interest rates for long-term project financing."  

   

• 24.07.2018 - A new milestone for 7C Solarparken AG: IPP portfolio grows to 150 MWp

  Bayreuth, 24.July 2018 – During the first-half of the year, 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has grown its IPP portfolio from 118 MWp to 145 MWp. The positive growth momentum is continuing during the summer and as a result the company is pleased to report that it has secured its 150 MWp target, originally scheduled for year-end 2018. The following additional projects have been realised or are currently in the realisation phase:

  • Zschnornewitz (2.6 MWp): a freefield project currently under construction in Saxony Anhalt, which was developed and is being built by IBC Solar on conversion land. The project is equipped with First Solar panels and Sungrow inverters, and will enjoy a 20-years average tariff of ca. EUR 70/MWh. 7C Solarparken also adds the land with a size of 4.1ha to its PV Estate portfolio.

  • Bernsdorf (750 kWp): a rooftop project in Saxony Anhalt developed by our 100% subsidiary Amatec Projects GmbH. The project is being constructed by Solar WO Engineering with panels from Talesun and Huawei inverters, and will receive a feed-in tariff of EUR 111/MWh.

  • Himmelfurst (750 kWp), Floha (750 kWp) and Falkenau (750 kWp): during Q2’18, Amatec Projects GmbH obtained construction permits for three freefield parks of 2.2 MWp on three different landfill sites in Chemnitz, Saxony. The respective projects in Himmelfurst, Floha and Falkenau will be built in three consecutive tranches of 750 kWp per year. This means that 3x750 kWp will be erected in 2018, another 3x750 kWp are scheduled for 2019 and the last phase of 3x750 kWp is planned in 2020. Based on the current regulation scheme, the company anticipates a feed-in tariff between EUR 85-87/MWh for the first tranche (3x750 kWp), of which construction has just started. 7C Solarparken selected IBC Solar as the EPC company.

  Disposal of the Mühlheim project
  Next to these additional capacity additions, which lead to an increase of the IPP portfolio up to ca. 150 MWp, 7C Solarparken also decided to capture an opportunity to generate a first capital gain during 2018 and subsequently sold its 750 kWp rooftop project in Mühlheim. The installation has been grid connected earlier this year with a tariff of EUR 111/MWh.

  Steven De Proost, CEO of 7C Solarparken AG comments: “While our team works hard to ensure that our PV installations are operating at their full potential, management continues to focus on growth and is pleased to announce that the 150 MWp target for year-end 2018 has been secured. The recent capital increase further demonstrates the financial community’s confidence in our prospects of progressively growing into a Tier-2 operator with a capacity of 200 MWp by year-end 2019.”

   

   

   

• 15.06.2018 - 7C Solarparken AG adds another 8 MWp to its IPP portfolio

  Bayreuth, 15 June 2018 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has signed the acquisition of two operating PV parks in Germany. Both acquisitions are still subject to usual market-specific conditions precedent. As a result, the group’s IPP portfolio climbs already to 145 MWp.

  Acquisition of 6.2 MWp in Tangerhütte, Saxony Anhalt The freefield PV park in Tangerhütte consists of two parts. A capacity of 5.5 MWp has been installed in 2017 with components from Canadian Solar and Huawei, and enjoys a tariff of EUR 87/MWh, while the recent extension of 750 kWp - at comparable feed-in tariff - has been equipped with panels from Q-Cells. Solar WO Engineering GmbH acted as EPC contractor for this extension. The asset will bring revenues of approx. EUR 0.5 Mio per year and has been financed for ca. 75% with project loans.

  Acquisition of 1.8 MWp in Brandholz, Hesse: The 1.8 MWp operating capacity is divided between a rooftop (0.6 MWp) and a freefield park (1.2 MWp) on the former landfill site. Their respective tariffs amount to EUR 111/MWh (feed-in year 2017) and EUR 89/MWh (feed-in year 2016). Both installations are equipped with REC panels and Sungrow inverters. The freefield park, which has been constructed by Pfalz Solar GmbH, has been nominated as “Global leading RES project 2016/17” for its innovative design. Management expects annual revenues of almost EUR 0.2 Mio. 

  Steven De Proost, CEO of 7C Solarparken AG: "Since the start of the year, we have already added 27 MWp of new capacity to our portfolio and already near our year-end target of 150 MWp. These two new acquisitions do not only increase our size but also bring on board two new EPC partners which can support our further growth plan.”
  

   

• 31.05.2018 - 7C Solarparken AG generated a Q1’18 EBITDA of EUR 4.3 Mio. Acquisition of two new PV parks lifts the IPP portfolio to 137 MWp.

  • Driven by a 19% increase in installed capacity, the total output in Q1'18 rose by 10% to 17 GWh
  • EBITDA in Q1’18 fell slightly below last year’s level (EUR 4.7 Mio) reflecting i) a weaker weather-driven specific yield (-8%) in comparison to a very sunny Q1’17 and ii) an amount of EUR 0.2 Mio less exceptional operating income. Net debt rose to EUR 160 Mio on the back of numerous plant acquisitions (1.2 MWp Sömmerda, 1.0 MWp Umpferstedt, 0.7 MWp Mühlheim, 1.9 MWp Pinta Solarparks) and the commissioning of 4.6 MWp Bitterfeld.
  • Guidance for the full-year 2018 (EBITDA EUR 29.6 Mio) already assumed negative weather-related effects of EUR 0.5 Mio in Q1’18. In addition, the underperformance in Q1’18 has already been entirely compensated through above-average production yields during the months of April and May.

  7C Solarparken has purchased two new assets which lift the current IPP portfolio to 137 MWp: Firstly, 7C Solarparken acquired a 632 kWp operating rooftop project in Möckern (Saxony-Anhalt). This installation is equipped with Canadian Solar panels and Power One inverters, and enjoys a tariff of EUR 222/MWh (feed-in year 2012. The second transaction relates to the purchase of the Amatec-Business earlier this year, through which 7C Solarparken gained rights of first refusal on operating solar installations of 4 MWp. The acquisition of the “Weisser Weg” PV park of 2.3 MWp is the first success resulting from this agreement. The freefield installation in Chemnitz has a tariff of EUR 89/MWh (feed-in year 2016) and consists of components from Talesun and Huawei. Further project acquisitions are currently in discussion so that management remains confident to reach its year-end target of 150 MWp.

• 23.04.2018 - 7C Solarparken AG reports a favorable financial development in 2017

  • EBITDA climbed to EUR 29.9 Mio. and clearly reached guidance of “over EUR 28.5 Mio.”
  • Net debt fell from EUR 156.6 Mio to EUR 146.6 Mio
  • Key priority for 2018 is to accelerate portfolio growth to 150 MWp already before the end of 2018 rather than during 2018-19.
  • Two further projects have been added to the IPP portfolio, which now stands at 134 MWp

  Bayreuth, 23. April 2018 – In its annual report published today, 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) looks back on a successful 2017. Mainly driven by (i) capacity expansion from 100 MWp to 118 MWp during the year, (ii) positive effects from the OPTIM 2.0 plan and (iii) a series of one-time effects, EBITDA grew to EUR 29.9 Mio for 2017 compared to EUR 27.9 Mio over 2016. Clean EBITDA even climbed by almost 12% from EUR 25.2 Mio in 2016 to EUR 28.2 Mio in 2017, and thus clearly reached the initial guidance of EUR 27.0 Mio. that was raised to EUR 28.5 Mio. in November 2017. Cash flow per share came in at EUR 0.49/share over 2017 versus EUR 0.45/share in 2016. The combination of a record profitability and a further strengthening of the balance sheet (equity ratio climbed to 29.5%) enables a first-time dividend payment of EUR 0.10 per share which shall be proposed to the Annual Shareholders‘ Meeting  on 1 June 2018.

  Outlook for 2018 and 2019
  The group expects to generate EBITDA of EUR 29.6 Mio and a cash flow per share of EUR 0.49, which is broadly in line with 2017 results. Aside from a lower-than-normal output during Q1’18, guidance only reflects time-based EBITDA contribution of the current 134 MWp portfolio (including two additional projects that are currently under construction), whereas the interest costs related to the Schuldschein loan of EUR 25 Mio account for almost a full year. Upon reaching the 150 MWp mark, which management now foresees before year-end 2018, and which would implicate that all proceeds of the Schuldschein loan are fully invested, management indicates that the EBITDA and cash flow per share will rise resp. to EUR 32.0 Mio and EUR 0.55/share on a full-year basis in 2019.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "One of the key priorities set for 2018 is to grow the capacity from 118 MWp at year-end 2017 to 150 MWp at year-end 2018. Following the recent acquisition of a 9 MWp rooftop portfolio in Brandenburg and Saxony-Anhalt, and the construction of two new 750 kWp installations (Ludwigsfelde II and Calbe), our IPP portfolio has already grown to 134 MWp at present. Further growth will come through acquisition as through realisation of the new-build pipeline held by our 100% subsidiary Amatec Projects GmbH.”

  Annual Report 2017
  The Annual Report 2017 is available on the company's website (www.solarparken.com) under the Investor Relations section. A conference call for analysts is scheduled on 24.04.2018 at 10.00 CET. The analyst presentation will be simultaneously made available on the website.

   

• 12.04.2018 - 7C Solarparken extends its IPP portfolio to 132 MWp after the acquisition of a 9 MWp portfolio of operating rooftop farms across Saxony Anhalt and Brandenburg
  

  12.04.2018 / 08:53  Bayreuth, 12 April 2018 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has signed a purchase agreement for a 9 MWp rooftop portfolio with nine different installations clustered across the German federal states of Saxony Anhalt and Brandenburg. The transaction is still subject to the usual administrative conditions precedent. The IPP portfolio of 7C Solarparken now increases to 132 MWp. The nine installations have been built in the period 2012-16 on agricultural roofs and enjoy an average feed-in tariff of ca. EUR 160/MWh. The systems are equipped with panels from LDK Solar and Tianwei, and with inverters from Diehl and Siemens. During the last three years, the portfolio has generated a specific yield of ca. 850 kWh/kWp. Under normal weather conditions, annual EBITDA should therefore continue to exceed the EUR 1.0 Mio. level. The installations have been acquired including non-recourse project financing of EUR 8.3 Mio. provided by a renowned German bank at a fixed interest rate of 2.8%. The portfolio has been taken over from SunX GmbH which develops and manages PV assets as well as real estate and holiday apartments across Europe. Steven De Proost, CEO of 7C Solarparken AG, comments: "The capacity build-up during the first four months of the year has already amounted to 14 MWp which demonstrates that we are capable to timely invest the funds recently received through the Schuldschein loan. We will continue to enhance scale this year, both through in-house project development as through acquisition of operating parks." 7C Solarparken 7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of 132 MWp. The shares of the company are traded on the regulated segment of the German Stock Exchange (General Standard).

  
  

   

   

• 28.02.2018 - 7C Solarparken AG closes its Strategic Deal #1 comprising the acquisition of Amatec and the issue of a EUR 25 Mio Schuldschein loan

  Bayreuth, 28 February 2018 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) announces that today it has reached completion of its Strategic Deal #1 of the strategic plan 2017-2019, which targeted a partnership with a developer and alternative financing.

  Acquisition of the development business of Amatec
  7C Solarparken has signed a purchase agreement regarding the development business of Amatec. Under the agreement, 7C Solarparken will take over a 55 MWp pipeline of project opportunities, of which 15 MWp projects in late stage development, a fully operational project of 750 kWp, a purchase option on three further operational parks and 3ha of PV Estate. The acquired business will still be run by the current managing director and his team of 5 employees. The acquisition of this pure-play German project development business creates a proprietary platform for new-build investment projects and brings a valuable network, as Amatec ranks as one of the most experienced players in the solar market with a track-record of 1.2 GWp.

  Growth financing secured through a Schuldschein loan of EUR 25 Mio
  In the context of the planned growth resulting from the acquisition of Amatec's development business, 7C Solarparken AG has secured a Schuldschein loan with a volume of EUR 25 Mio. The Schuldschein loan will be used to redeem a specific project finance loan (ca. EUR 10 Mio), whilst the remaining amount of EUR 15 Mio will be used as project equity for portfolio growth.

  The Schuldschein is structured in two tranches with maturities of five and seven years, bearing mainly fixed interest rates. The average cost of debt to 7C Solarparken is slightly below 2.8%. The placement was arranged by Hypo Vorarlberg Bank AG and KBC Bank NV.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "The Schuldschein loan represents a substantial step for 7C Solarparken to secure the financial foundation to grow to 150 MWp in a first phase. The acquisition of Amatec as pure-play PV developer, in combination with a recurring deal flow already existent in 7C Solarparken, will bring the volume required to achieve our ambitions."

  Acquisition of Pinta Solarparks GmbH & Co KG
  7C Solarparken acquired a portfolio of three newly built rooftop projects totaling 2 MWp with further extension potential on the existing buildings. The installations, which were developed by ALTUS AG, are located nearby Salzwedel in Saxony Anhalt, and equipped with REC panels and Huawei inverters. The portfolio is estimated to generate annual EBITDA of EUR 175 T and has been project financed through a loan of EUR 1.8 Mio at a fixed rate of 1.8%. The independent investment bank MAYLAND AG acted as transaction adviser.

  7C Solarparken
  7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of over 120 MWp. The shares of the company are traded on the regulated segment of the German Stock Exchange (General Standard)

   

   

• 22.01.2018 - 7C Solarparken AG: Steven De Proost wins the category "Best CEO in the European Solar Industry 2017"

  Awarded by London-based European CEO Magazine

  Bayreuth (pta012/22.01.2018/10:23) - Bayreuth, 22 January 2018 - Steven De Proost of 7C Solarparken AG has been voted "Best CEO in Europe" in the Solar PV category by the London-based publication European CEO Magazine in their annual European CEO Awards. The Awards bring together companies pushing the envelope in business, and the executives that make this progress possible. In celebrating leading players across a range of industries, the panel has recognized the extensive financial markets expertise and innovative leadership strategy displayed by Steven De Proost. Under Mr De Proost's direction, 7C Solarparken AG has achieved sustained, profitable growth since its inception in 2014 through a successful acquisition program which included the procurement and integration of the Colexon and Miskina portfolios. This strategy, coupled with a resourceful asset optimization approach and an entry in PV Estate, will allow Mr De Proost and his team to continue to strive to meet impressive growth targets in a sector where his ingenuity is providing the secure returns that investors are delighted to support.

  Steven De Proost comments: "I am honored with this recognition, but above all this award is also a testament to the hard work and passion of our CFO Koen Boriau, and the entire team of 7C Solarparken."

  The publication "European CEO" in London has been presenting the CEO of the Year Award for about 10 years. The judging panel of journalists and industry insiders at "European CEO" observes influential trends, initiatives and developments across European industry as well as the executives and CEOs who shape it. All award winners will be profiled in a supplement within the winter edition at The World Economic forum in Davos January 2018.

  7C Solarparken
  7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of 120 MWp. The shares of the company are traded on the regulated segment of the German Stock Exchange (General Standard)

   

• 02.01.2018 - 7C Solarparken acquires 2.2 MWp operational PV parks and lifts IPP portfolio to 120 MWp

  Bayreuth,  2 January 2018 – 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has signed a purchase agreement of two freefield PV installations in Umpferstedt (1.0 MWp) and Sömmerda (1.2 MWp), located in Thuringia. Through these acquisitions, the own portfolio of 7C Solarparken increases to 120 MWp. Both newly-acquired projects enjoy a feed-in tariff of EUR 179/MWh as they were grid connected in 2012. The installations are equipped with modules of Solar Frontier and Jinko Solar. Under normal weather conditions, annual EBITDA amounts to ca. EUR 350T. The investments have been acquired without project financing. 7C Solarparken also purchased the 2ha land in Umpferstedt.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "Alongside the high complexity of this transaction, these two PV assets perfectly fit into our IPP portfolio in terms of location, size, land ownership and value potential.”

  7C Solarparken
  7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of 120 MWp. The shares of the company are traded on the regulated segment of the German Stock Exchange (General Standard).

   

• 19.12.2017 - 7C Solarparken AG sells Italian solar installation of 1MWp to Edisun Power

  Bayreuth, 19th December 2017 - 7C Solarparken AG (WKN: A11QW6 / ISIN: DE000A11QW68) has signed a sale agreement regarding the 1MWp freefield solar installation “LEO” near Ravenna in the North of Italy. The new founded EDISUN POWER ITALIA S.R.L. purchases 100% of the shares of CTG BAAL S.R.L. from 7C Solarparken AG and takes over the existing project financing.

  With the sale of the LEO project, 7C Solarparken sells the last Italian participation to focus even more on the German PV-market and to reach its goal to grow into a 200 MWp player.

  This is, after the solar installation Sainte-Maxime, the second sale of an installation abroad from 7C Solarparken to the Edisun Power Group. Edisun Power, which owns a large geographic Portfolio, accomplish the entry into the Italian market with this purchase.

  7C Solarparken obtains out of the transaction an EBITDA gain on the disposal of consolidated entities of ca. 0.2 Mio. EUR in 2017.

  7C Solarparken AG

   7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of now 118 MWp. The shares of the company are traded on the regulated segment of the Frankfurt Stock Exchange (General Standard).

  Edisun Power Gruppe

  A listed European solar energy producer, the Edisun Power Group finances and operates solar power installations in a number of European countries. Edisun Power began its involvement in this sector as far back as 1997. The company has been listed on the Swiss Stock Exchange since September 2008. Edisun Power has amassed extensive experience in the realization and acquisition of both national and international projects. Currently, the company owns a total of 36 solar energy installations in Switzerland, Germany, France, Italy and Spain, with a total capacity of 22.6 MWp.

• 23.11.2017 -7C Solarparken AG presents its Plan 2017-19 and raises the EBITDA guidance for 2017 from EUR 27 Mio to EUR 28.5 Mio

  Bayreuth, 23 November 2017 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68; stock exchange: regulated market in Frankfurt/Main (General Standard)) will present its “Developing into a 200 MWp player” Plan 2017-19 at its Analyst Day tomorrow in Bayreuth. The main messages from the Plan are as follows:

    - 7C Solarparken reiterates its goal to grow into a 200 MWp PV player

    - Growth from the current 119 MWp to 150 MWp will primarily come through a partnership with a German developer, and is planned to be financed through alternative (debt) instruments taking advantage from the historically low interest rate environment.

    - Although strategic M&A is still eyed to accelerate the further expansion up to 200 MWp, 7C Solarparken will in the meantime initiate a co-investor / minority model, utilising its organic growth capacity of 25 MWp per year and sourcing & optimisation skills, to grow with no dilution to a saleable 200 MWp portfolio.

    - EBITDA guidance for 2017 is raised from EUR 27 Mio to EUR 28.5 Mio, while clean EBITDA prognosis for 2017 is upped from EUR 27 Mio to EUR 27.5 Mio.

    - The company’s strong balance sheet and the positive cash flow outlook for the next years will enable the company to deliver on its commitment to remunerate shareholders with an annual dividend or dividend equivalent of EUR 10ct/share as from 2018 onwards on the basis of the 2017 results.

  The Business Plan 2017-19 will be available tomorrow on the website www.solarparken.com under the section “Investor Relations’. 

  7C Solarparken
  7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of 118 MWp. The shares of the company are traded on the regulated segment of the Frankfurt Stock Exchange (General Standard).

• 08.11.2017 - 7C Solarparken acquires with 6.7 MWp the so far largest solar installation in its history - installed capacity surpasses the year-end 115 MWp objective

  Bayreuth, 8 November 2017 - Today, 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has signed the sales and purchase agreement of a 6.7 MWp PV rooftop installation in Rüsselsheim (Hesse, Germany). This is the largest solar installation in the company's portfolio whose capacity rises to 118 MWp.

  The project is equipped with high quality components (Suntech, Refusol) and has been commissioned in 2011. Therefore, it enjoys a fixed feed-in tariff of EUR 236/MWh and generates, under normal irradiation conditions, annual EBITDA of at least EUR 1.4 Mio. The solar installation has been debt-financed conservatively with multiple project loans of approx. EUR 9 Mio at interest rates between 1.95% and 3.49%. The equity part within purchase price will be financed through excess liquidity of 7C Solarparken.

  Steven De Proost, CEO of 7C Solarparken AG, comments: "It can be noted that this investment is sizeable and lifts our operating capacity to 118 MWp, thereby exceeding the target of 115 MWp at year-end 2017."

  7C Solarparken
  7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of 118 MWp. The shares of the company are traded on the regulated segment of the Frankfurt Stock Exchange (General Standard).

• 27.09.2017 - 7C Solarparken at record level with EBITDA and profitability in the first half of 2017

  Bayreuth, 27 September 2017 - During the first half of 2017, 7C Solarparken (WKN: A11QW6 / ISIN: DE000A11QW68) has continued its profitable growth.

  Reflecting a 20% rise in installed capacity and better weather conditions, revenues increased from EUR 15.2 Mio to EUR 18.1 Mio. The reported EBITDA even increased by approximately 25% to EUR 16.8 Mio but contains various one-off items including gains on bargain purchases. Clean EBITDA rose by 23% to EUR 15.6 Mio reflecting the expansion of the group’s operating asset base in combination with cost control.

  The group’s net profit climbed from EUR 2.1 Mio in last year’s comparable period to EUR 5.1 Mio in the first half of 2017. Aside from operational profitability, the bottom line was also positively impacted by a financial income from the refinancing of the Moorenweis solar asset and reduced financial expense (down from EUR 3.6 Mio to EUR 3.2 Mio) following last year’s successful execution of the refinancing of the Miskina portfolio.

  The group’s balance sheet has also been strengthened further during the first half of the year. The equity ratio has risen from 25% to 28% with net debt dropping from EUR 156.7 Mio to EUR 150.5 Mio. In combination with net profit at a record level, the economics provide comfort to the management board’s objective of remunerating shareholders with a dividend or dividend equivalent on the basis of the 2017 result.

  Furthermore, the group is also making good progress on delivering the 2016-18 strategic objectives. The stated target of reaching 115 MWp capacity at year-end 2017 is in sight with a portfolio of currently 113 MWp. In addition, the optimization program 2.0 is nearly completed and multiple discussions are ongoing with financial and industrial players with the aim to close a strategic deal in 2018, which will lay the foundation for an installed base of 200 MWp.

• 07.09.2017 - 7C Solarparken AG increases IPP portfolio to nearly 113 MWp

  7C Solarparken AG  (WKN: A11QW6, ISIN: DE 000A11QW68) expands its IPP portfolio by 5.6 MWp through adding three new PV installations that have been developed, planned and constructed by IBC Solar. In Goldberg (Mecklenburg West Pomerania), 7C Solarparken already operated a 1.7 MWp installation, which it recently has extended by another 0.3 MWp through installing IBC Monosol panels. Furthermore, the Group also started the construction of a 4.6 MWp freefield project in Bitterfeld (Saxony Anhalt) that received a feed-in tariff from the tendering system. In Teutschenthal (Saxony Anhalt), a new rooftop project of almost 750 kWp will be equipped by First Solar panels of 117.5 Wp.

  Upon grid connection of these three new-build installations, the IPP portfolio of 7C Solarparken will grow to nearly 113 MWp. Steven De Proost, CEO of 7C Solarparken AG comments: “Taking these new capacity additions into account and considering our strong pipeline, we are very comfortable to reach our 115 MWp target at year-end.”

  7C Solarparken
  7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of 113 MWp. The shares of the company are traded on the regulated segment of the Frankfurt Stock Exchange (General Standard). 

• 30.06.2017 - 7C Solarparken AG completes the re-financing of its largest PV installation
  

  Bayreuth (pta011/30.06.2017/10:57) - 7C Solarparken takes advantage of the low interest rate environment and completes the re-financing of its largest PV installation

  Bayreuth, 30. June 2017 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; Börse: Regulierter Markt in Frankfurt/Main (General Standard)) has today completed the re-financing of the project company "Renewagy 2. Solarprojektgesellschaft mbH & Co. KG" holding the group's largest PV installation located in Moorenweis (5.9 MWp). At year-end 2016, the project loan with a nominal value of EUR 12.9 Mio (IFRS value: EUR 14.3 Mio) carried a fixed interest rate of 5.4%. Also the refinancing arrangement is structured as a non-recourse project loan with a maturity until 2025, but it enjoys a more favorable fixed interest rate of 1.8%. The annual saving in the first full year will therefore amount to EUR 0.4 Mio.

  Steven De Proost, CEO of 7C Solarparken AG, is pleased: "The successful execution of the re-financing agreement is an important milestone of our Plan 2016-18 in which we planned to optimize the value of the existing portfolio. Through this transaction the weighted average cost of debt sinks from 3.3% to 3.0% on consolidated level."

  About 7C Solarparken
  7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of ca. 107 MWp. The shares of the company are traded on the regulated segment of the Frankfurt Stock Exchange (General Standard).

   

• 27.04.2017 - 7C Solarparken AG reports a favorable cash flow development in 2016: EBITDA climbed to EUR 27.9 million, and clearly exceeds guidance of EUR 24 Mio. Cash flow per share rose from EUR 0.41 in 2015 to EUR 0.45 in 2016, well above earlier forecast.

  Bayreuth, 27. April 2017 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 bzw. WKN: A2DAP2, ISIN DE000A2DAP26) published EBITDA of EUR 27.9 Mio for 2016 compared to EUR 24.9 Mio over 2015. In spite of less favourable weather conditions, the full consolidation of the Miskina parks and a number of new-build projects have been the main drivers for growth. Clean EBITDA even climbed by 25% from EUR 20.2 Mio in 2015 to EUR 25.3 Mio in 2016, and thus clearly exceeded the prognosis. Also cash flow per share, a key performance indicator for the company, exceeded management forecast and came in at EUR 0.45/share. Last year, cash flow per share amounted to EUR 0.41. The company guided for EBITDA of EUR 24 Mio, EUR 23.7 Mio clean EBITDA and EUR 0.43 cash flow per share in 2016.

  Steven De Proost, CEO of 7C Solarparken AG is very pleased with the annual results: "In addition to outperforming our financial targets, we welcome to have reached the critical size of 100 MWp and a market capitalisation of over EUR 100 Mio. Both milestones will lead to increased awareness on the capital markets. Furthermore we have demonstrated our capability to grow the value per share, notwithstanding a series of capital increases, and even within an adverse irradiation year."

  Outlook for 2017
  The company expects to generate EBITDA of at least EUR 27 Mio and a cash flow per share in the range EUR 0,48-0,50. Guidance assumes (i) unchanged weather conditions compared to 2016, and (ii) income from the existing IPP portfolio only (105,8 MWp) without cash flow contribution from further growth initiatives. Nevertheless, management is confident to capture interesting opportunities during the year so that the recent capital increases will translate once again in additional value per share.

  Annual Report 2016
  The Annual Report 2016 is available on the company's website (www.solarparken.com) under the Investor Relations section. A conference call for analysts is scheduled on 27.04.2017 at 11.45h CET. The analyst presentation will be simultaneously made available on the website.

  7C Solarparken
  7C Solarparken AG is a pure-play PV owner/operator with an IPP portfolio of ca. 105 MWp. Most installations are located in Germany. The company's shares are listed on the regulated market in Frankfurt in the General Standard segment.

   

   

• 03.04.2017 - 7C Solarparken AG: IPP Portfolio rises to over 105 MWp after acquisition of a 1.2 MWp rooftop installation

  Bayreuth, 03 April 2017 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 bzw. WKN: A2DAP2, ISIN DE000A2DAP26) has acquired the shares in Swan Energy NV, a Belgian project company holding a PV portfolio of 1.2 MWp consisting of three rooftop projects across Flanders (Belgium). All three projects were commissioned during 2011, have been equipped with tier-1 components (Yingli, SMA) and benefit from a 20-years fixed tariff of EUR 330/MWh. Last year the portfolio generated EBITDA of approx. EUR 400 T while carrying project loans of EUR 1.9 Mio.

  "Through this investment, we have reached our 105 MWp capacity goal for the first-half 2017 while it over-proportionally contributes to our cash flow. Moreover, the installations have been known to our team since their commissioning, which enables a smooth transition in their management."

  About 7C Solarparken

  7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of over 105 MWp. The shares of the company are traded on the regulated segment of the Frankfurt Stock Exchange (General Standard).

   

• 23.02.2017 - 7C Solarparken AG: Approx. 19% increase in power production and revenues in 2016, EBITDA will substantially exceed guidance

  Bayreuth, 23 February 2017 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 bzw. WKN: A2DAP2, ISIN DE000A2DAP26) announces that their PV portfolio has seen a 19% increase in production in 2016. Production increased from 74.7 GWh in 2015 to 88.9 GWh in 2016. The main driver behind this substantial increase has been (1) the progressive expansion of installed capacity from 86 MWp at the end of 2015 to 100 MWp at the end of 2016 and (2) the full year consolidated effects of the Miskina portfolio which was acquired in Q4 2015. It is noted that the specific output yield dropped from 1044 kWh/kWp in 2015 to 961 kWh/kWp in 2016. A couple of factors contributed to this.  Firstly, according to the German Meteorological Service (DWD), the global horizontal irradiation in Germany was, depending on location, approximately 3% - 6% lower than last year. Aside from the weather effects, the decline in specific yield is entirely attributable to changes in the portfolio’s profile. The park in Sainte-Maxime (Southern France) was sold at the end of 2015 and new installations, though more fitting to the portfolios geographical spread, are located in less sunny regions (primarily Lower Saxony and Mecklenburg-Western Pomerania). The increase in production is fully reflected in the company’s revenues which have risen from EUR 25.4 Mio to slightly above EUR 30 Mio in 2016. The company’s guidance, which was based on a planned portfolio expansion to 94 MWp at the end of 2016, assumed revenues of at least EUR 28.8 Mio for 2016.  Through a combination of solid production output (+19%), sustained cost control at corporate level, and one-time badwill effects, the company’s preliminary (and unaudited) numbers are showing a significant increase in the full-year EBITDA in 2016. Previous EBITDA guidance of Analyst Day in Bayreuth was raised to at least EUR 24 Mio, and this is now expected to surpass EUR 26 Mio.

  7C Solarparken AG will publish its final financial figures for 2016 at the end of April 2017.

  “We are very satisfied with the underlying quality of our assets and performance,” comments Steven de Proost, CEO of 7C Solarparken AG. “Despite an above average ambient temperature in 2016 (which will always have a negative effect on production), and the outages related to the optimization works at Kissing and Wiesenbach, the company’s Performance Ratio still came in at 79.1% - slightly higher than communicated guidance of 78.9%.  With our current strategy, we anticipate record growth in EBITDA throughout 2017.”

  
  About 7C Solarparken

  7C Solarparken AG is a listed owner/operator of PV plants in Germany with a portfolio of ca. 104 MWp. The shares of the company are traded on the regulated segment of the Frankfurt Stock Exchange (General Standard).

   

• 21.02.2017 - 7C Solarparken AG: IPP Portfolio erweitert auf 104 MWp nach Inbetriebnahme einer 4.1 MWp Solaranlage in Großfurra (only available in German)

  Bayreuth, 21. Februar 2017 (pta) - 7C Solarparken nimmt PV-Anlage mit 4,1-Mwp in Großfurra (Thüringen) in Betrieb

  Die 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 bzw. WKN: A2DAP2, ISIN DE000A2DAP26), hat wie geplant eine neu errichtete Photovoltaik-Anlage mit 4.1 MWp in Großfurra (Thüringen) an das Stromnetz angeschlossen. Der Solarpark wurde entwickelt, geplant und gebaut durch die IBC SOLAR AG aus Bad Staffelstein. Die Anlage ist mit Modulen von Neo Solar Power und Wechselrichtern von Sungrow ausgestattet. Dieses 4.1-MWp-Solarkraftwerk hatte im fünften bundesweiten Ausschreibungsverfahren (August 2016) den Zuschlag für eine 20-jährige Einspeisevergütung durch die Bundesnetzagentur erhalten. Steven De Proost, Chief Executive Officer der 7C Solarparken AG, kommentiert: "Unmittelbar nach dem Zuschlag für dieses Projekt hat unserer Partner IBC SOLAR AG mit dem Bau angefangen mit der Zielsetzung, Ende Februar 2017 ans Netz zu gehen. Auch die geplante Anlagenerweiterung (749 kWp) auf unserem Grundstück in Grafentraubach wird von der IBC SOLAR AG gebaut werden, die gesetzliche Vergütung erfolgt nach EEG 2017. Wir erreichen demnach schon bald das Ziel von 105 MWp, welches wir uns für das erste Semester gesetzt hatten."

  Über 7C Solarparken
  Die 7C Solarparken AG ist ein börsennotierter Solarkraftwerksbetreiber. Ihr Portfolio umfasst derzeit ca. 104 MWp. Die meisten ihrer PV-Anlagen befinden sich in Deutschland. Die Aktien des Unternehmens werden im regulierten Markt der Börse Frankfurt (General Standard) notiert.

• 27.12.2016 - Installed capacity of 7C Solarparken climbs to over 100 MWp following commissioning of two rooftop projects in Ludwigsfelde and Leipzig
  
  Bayreuth, 27 December 2016 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has commissioned two new-build projects that were constructed by Goldbeck Solar. Aside from the 1.3 MWp project in Ludwigsfelde (see corporate news 28 October 2016), 7C Solarparken AG also invested in a 1.5 MWp rooftop installation in Leipzig which has been equipped with Canadian Solar panels and Sungrow inverters as well. Given that their commissioning according to EEG regulation still occurred in 2016, these two projects benefit from a feed-in tariff of over EUR 10ct/kWh and are exempt from the tender system which will apply as from 01.01.2017 for all new rooftop installation above 750 kWp. Additionally, 7C Solarparken AG acquired an existing PV installation of 0.4 MWp in Flanders which enjoys a fixed tariff of EUR 330/MWh for the next 15 years.

  Steven De Proost, CEO of 7C Solarparken: "At our annual Investor Day held in September 2016, we already expressed our comfort to reach 100 MWp installed capacity before year-end. We will now start preparing the execution and financing of the growth plan towards 115 MWp which should be reached within the next twelve months".

   

  7C Solarparken
  7C Solarparken AG is a pure solar power plant operator with a portfolio of 100 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

• 15.12.2016 - 7C Solarparken and E.ON connect a second solar power plant to the grid

  Bayreuth, 15 December 2016 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has invested in a 0.9 MWp rooftop installation in Schinne (Bismark/ Saxony Anhalt). The PV project has successfully been connected to the grid in November 2016. The solar power plant is equipped with Canadian Solar panels and Delta inverters. It enjoys a fixed feed-in tariff of EUR 111.5/MWh. E.ON Energie Deutschland GmbH (Munich) has been the contractor of the project.

  Through this transaction, 7C Solarparken increases its installed capacity to almost 97 MWp. This figure excludes the recently announced projects in Grossfurra (4.1 MWp) and Ludwigsfelde (1.3 MWp) which are currently under construction.

  
  7C Solarparken
  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 97 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

• 02.12.2016 - 7C Solarparken and E.ON connect a 1 MWp rooftop installation to the grid
  
  Bayreuth, 02 December 2016 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68) has invested in a 1 MWp rooftop installation in Steinburg (Saxony Anhalt). The PV project has successfully been connected to the grid on 30 November 2016. The solar power plant is equipped with Canadian Solar panels and Huawei inverters. It enjoys a fixed feed-in tariff of EUR 110/MWh. E.ON Energie Deutschland GmbH (Munich) has been the contractor of the project. E.ON and 7C Solarparken plan further common projects and want to intensify their business relationship in the field of PV development.
  
  Through this transaction, 7C Solarparken increases its installed capacity to 96 MWp. This figure excludes the recently announced projects in Grossfurra (4.1 MWp) and Ludwigsfelde (1.3 MWp) which are currently under construction
  
  7C Solarparken
  7C Solarparken AG is a listed solar power station operator. It’s present capacity has 96 MWp. Most PV parks are located in Germany. The company is listed on the regulated market in Frankfurt within the General Standard segment.
  

   

   

• 18.11.2016 - 7C Solarparken AG announces 9-months figures 2016
  

  Financial Reports

• 08.11.2016 - 7C Solarparken AG increases installed capacity to 95 MWp through the commissioning of a 1 MWp PV installation in Mühlgrün

  Bayreuth, November, 08^th 2016 – 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68; Stock Exchange: Regulated Market in Frankfurt / Main (General Standard)) has invested in a new 1 MWp freefield PV installation. The project has been constructed by IBC Solar AG with whom also further projects are planned.

  The PV installation "Mühlgrün" (Saxony) has been grid-connected since the end of October 2016 with a total capacity of 971 kWp. 7C Solarparken AG also purchased the land. A feed-in tariff of EUR 86.8/MWh has been secured through the auctioning procedure. The installation has been equipped with panels of IBC Solar (IBC Mono Sol 295 VL) and string inverters of Sungrow.

  Steven De Proost, CEO of 7C Solarparken coments: "Through this transaction, we have increased our installed capacity to 95 MWp. The recently announced projects in Großfurra (4.1 MWp) and Ludwigsfelde (1.3 MWp) are not yet included since they are currently in the planning phase."

  7C Solarparken
  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 95 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

• 28.10.2016 - 7C Solarparken AG selects Goldbeck Solar GmbH to construct a 1.3 MWp PV rooftop in Ludwigsfelde

  Bayreuth, October, 28^th 2016 –  Today 7C Solarparken AG has signed an agreement to construct a PV rooftop installation on a brand new logistics center in Ludwigsfelde (Brandenburg) . The EPC company Goldbeck Solar GmbH is the strategic counterparty to the agreement.

  The solar installation with a total capacity of 1.3 MWp is a new-build project with planned commissioning in December 2016. The project will consist of Canadian Solar panels and string inverters of Sungrow.

• 30.09.2016 -7C Solarparken AG: Issue of a convertible bond of EUR 2.5 million with subscription rights for shareholders

  Bayreuth, 30 September 2016 - As announced on 19 September 2016, 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68; Stock Exchange: Regulated Market in Frankfurt / Main (General Standard)) issues a convertible bond with a total nominal amount of up to EUR 2.5 million. The bonds with a nominal amount of EUR 2.50 each have a term of 12 months and interest accrues at an interest rate of 2.5% p.a. The initial conversion ratio is 1:1, which means that at the end of the term of the convertible bond, bondholders have the right to convert one bond into one share of the company. The convertible bond will be offered to existing shareholders of the company for subscription, as part of a subscription offer, which is to be published in the German Federal Gazette (Bundesanzeiger) and on the company’s website on 4 October 2016, in the period from 5 October (0:00) until 18 October 2016 (24:00) at a ratio of 42:1, i.e. 42 shares of 7C Solarparken AG entitle to subscribe for one bond, at an issue price of 100% of the nominal amount per bond. Decisive for the calculation of the number of the shareholders' subscription rights is their respective holding of shares at the end of 4 October 2016.

  7C Solarparken

  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 94 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

   

   

• 19.09.2016 -7C Solarparken AG presents its new Business Plan 2016-18 and decides to issue a EUR 2.5 Mio convertible bond

  Bayreuth, 19 September 2016 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68; stock exchange: regulated market in Frankfurt/Main (General Standard)) will present its “Foundations for a Strategic Deal by 2018” Plan at its Analyst Day tomorrow in Bayreuth. The new Plan is another call on the company’s strength in capacity growth and optimisation of PV parks, as a prelude to the completion of a Strategic Deal scheduled for 2018. The headlines of the Plan are as follows: 

  • 7C Solarparken aims for maximum value through a combination of growth up to 115 MWp by year-end 2017 and a capital-intensive round of optimization works on its existing IPP portfolio.
  • The equity part of the new initiatives shall be financed through optimal use of the available liquidity, the immediate issue of a convertible bond (EUR 2.5 Mio) and the business plan foresees in a capital increase of approx. EUR 3.4 Mio.
  • With the goal to finance the planned optimization, the launch of a 12-months convertible bond of EUR 2.5 Mio backed by the conditional capital 2016 was decided today by the management board with approval of the supervisory board. The bond will be offered to existing shareholders by a subscription rights offering. It will bear an interest rate of 2.5% and can be converted at EUR 2.50 per share after twelve months. It will be issued in October 2016.
  • The capital of the company is planned to be increased by approx. EUR 3.4 Mio within the next 12 months via a private placement, a contribution in kind or the issue of another convertible bond.
  • The new Plan foresees EBITDA to grow towards EUR 28.9 Mio and cash flow per share to EUR 53ct in 2018 (previously: EUR 50ct/share by 2017) while net debt/EBITDA will drop below 5.0x enabling further room for shareholder remuneration. The planned capital measures will, as consequence, have no dilutive impact.
  • Management anticipates to close a strategic deal in 2018 as to create value and liquidity to the shareholders.

  During last year’s Analyst Day presenting the Plan 2015-17, management focused on the importance of reaching the 100 MWp mark and a market capitalization of EUR 100 Mio as to be able to play an active role in the industry and to attract the interest of the financial community. After thorough analysis of the market context, management sees indeed further upside for 7C Solarparken AG upon transformation from a tier-3 player into a tier-2 player which it defines as an owner/operator of at least 200 MWp and benefiting from a liquid share with institutional ownership.

  Steven De Proost, CEO of 7C Solarparken AG comments: “Consolidation in the market has started, and we clearly see a role for our company. Whether we ultimately end into an industrial merger, become part of a larger listed group or attract a sizeable financial investor is still too premature to say, but at least we first want to have the full value realized based on the current resources that can handle up to 115 MWp and the current asset portfolio. Amid this context we recognize value-accretive benefits from issuing a convertible bond right now, and a capital increase during the period 2016-17.”

  The Business Plan 2016-18 will be available tomorrow on the website www.solarparken.com under the section “Investor Relations’. 

   

  7C Solarparken
  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 94 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

   

   

   

   

   

   

• 15.09.2016 -7C Solarparken AG continues its profitable growth in the first-half of 2016

  • Solid H1 2016 results, despite below-average irradiation
  • Increase of EBITDA guidance for 2016 to at least EUR 24 Mio
  • Capacity target under the Business Plan 2015-17 for financial year 2016 already achieved. 7C Solarparken AG will soon present its new Business Plan 2016-18.

   

  Bayreuth, 15 September 2016 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68; stock exchange: regulated market in Frankfurt/Main (General Standard)) has continued its profitable growth path in the first half of the year 2016 and anticipates further earnings strength in the second half of the year.

  H1 2016 characterised by solid results,  below-average irradiation inhibited the growth

  It is mainly the expansion of the IPP portfolio of 7C Solarparken from a weighted capacity of 70.5 MWp in H1’15 to 86.1 MWp in H1’16, which has increased its revenues by approximately 19 % to EUR 15.2 Mio. Full-period consolidation of the Miskina portfolio (13.7 MWp) has been the main driver for the underlying growth.

  Sunshine hours and irradiation were, depending on region, up to 5-10% below the long-term average, as a result, revenues in the first half of 2016 (H1’16) were about EUR 1 Mio lower than under normal weather conditions. In its guidance for 2016, management had already reflected weather-related uncertainties of EUR 0.6 Mio. In spite of slightly worse weather conditions, EBITDA rose from EUR 10.2 Mio in H1’15 by 30.4% to EUR 13.4 Mio in H1’16 primarily driven by: (1) the inclusion of the Miskina portfolio and (2) operating income of EUR 0.8 Mio related to positive difference between the IFRS valuation and purchase price of investments in H1’16. This extraordinary operating income (badwill) almost fully offset the negative weather effect. Excluding exceptional items, clean EBITDA was up by 24% from EUR 10.3 Mio to EUR 12.7 Mio. The continuing strong operational performance and underlying portfolio growth to 94 MWp enables the company to raise its EBITDA guidance for 2016 from EUR 23.7 Mio to at least EUR 24 Mio.

  Net cash flow has recorded an improvement of 29% to EUR 9.5 Mio. The cash flow per share (CFPS) indicator, which the company considers as a key value metric, has remained flat at EUR 23ct/share in spite of a 29% increase in outstanding shares. Steven De Proost, CEO of 7C Solarparken AG, comments: “The first-half figures confirm the stability of our business, also in case the meteorological conditions are less favorable. We are mostly enthusiastic about the robustness of our cash flow per share which was impacted by a substantial increase in number of shares outstanding related to the Miskina transaction and two private placements. In view of the fact that firstly the management’s priority in H1’16 was to optimize and refinance the Miskina portfolio and that secondly CFPS was not yet improved by contributions of our recent investments nor from the successful re-financing of the Miskina portfolio itself during H1’16, CFPS will naturally accelerate in H2’16 versus H2’15. With operational targets for year-end 2016 already reached, we can provide high comfort to our shareholders that our CFPS target of EUR 0.43/share will be met this year even under adverse weather conditions.”

  Strong momentum on the execution of the Business Plan 2015-17

  Management’s priority for 2016 has been to optimize and re-finance the Miskina portfolio while raising the portfolio to 94 MWp at year-end 2016. The company succeeded in completing the optimization already in H1’16, and even outperformed on the stated targets. Following a series of recently announced investments, 7C Solarparken also reached the 94 MWp ahead of schedule. New targets for the period 2016-18 will be announced on September 20, 2016 when the company holds its annual Analyst Day.

  The first half-year report 2016 is available on the website www.solarparken.com under the section “Investor Relations’. 

  7C Solarparken

  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 94 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

  For further information:
  

  7C Solarparken AG
  An der Feuerwache 15
  95445 Bayreuth
  Germany
  www.solarparken.com
  Steven De Proost, CEO
  info@solarparken.com
  Tel. +49 (0) (921) 230557 77

   

   

   

   

   

• 23.08.2016 - 7C Solarparken AG acquires a 3.5 MWp PV installation in Schönebeck and already achieves its 94 MWp capacity target for 2016

  Bayreuth, 23 August 2016 - 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68; stock exchange: regulated market in Frankfurt/Main (General Standard)) has purchased an operational PV park of 3.5 MWp in Schönebeck (Saxony-Anhalt). As usual, the transaction is still subject to sector-specific conditions precedent. Through this investment, the company's consolidated portfolio is rising to 94 MWp which the company had set as objective for year-end 2016.

  The PV power plant in Schönebeck, equipped with tier-1 components - such as Solarworld panels, SMA inverters and Schletter mounting structures - has been put into service during the year 2012 and enjoys a feed-in tariff of EUR 187.6/MWh. Last year, the installation recorded an EBITDA of over EUR 0.6 Mio and assumed external project loans of EUR 3.6 Mio with a long-term interest rate of 2.7%.
  
  Steven De Proost, CEO of 7C Solarparken AG comments: "The project in Schönebeck has been on our radar since commissioning in 2012 and fits very well into our IPP portfolio. Our recently high activity level has resulted into an early realization of our 2016 capacity target which brings us into a strong position to reach our 105 MWp objective by 2017 at year-end 2016."

  
  7C Solarparken
  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 94 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

   

   

   

• 05.08.2016 - 7C Solarparken secures land and tariff for a 4.1 MWp new-build project in Thüringen

  Bayreuth, 05. August 2016 – 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68; stock exchange: regulated market in Frankfurt/Main (General Standard)) has purchased land property of 7ha in Großfurra, part of the village of Sondershausen (Thüringen) on which it plans to erect a 4.1 MWp PV park. As a result, 7C Solarparken AG sees its PV Estate portfolio rising to 77ha and still considers PV Estate as an important long-term value retainer since property ownership enables a longer time horizon for the underlying PV project. Furthermore, the PV project itself has today also been granted by the Bundesnetzagentur a fixed feed-in tariff under the auctioning process of August 2016. According to the regulation, this project needs to be realized within the next 18 to 24 months.

  Steven De Proost, CEO of 7C Solarparken AG: "Now that the land and the EEG tariff are secured, we will complete the administrative and legal paperwork and thereafter start the construction of the Großfurra project. Our first priority is however to select the components and the project financing."

  Aside from this new-build project, 7C Solarparken AG also added an operational 250 kWp rooftop installation in Halberstadt to its portfolio. This small investment completes the package of similar rooftop acquisitions (Gotha, Wismar, Rostock) that were realized over the last months.

   

   

• 27.07.2016 - 7C Solarparken AG raises its installed capacity to 90.5 MWp after investing in the new-build project Goldberg

  Bayreuth, 27 July 2016 – Today, 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68; stock exchange: regulated market in Frankfurt/Main (General Standard)) has signed the purchase agreement of a 1.75 MWp freefield installation. As usual the transaction is still subject to sector-specific conditions precedent. The EPC contractor is IBC Solar AG, with whom the 2 MWp Fahrenholz project was realised previously and with whom further new-build projects are planned.

  The construction of the 1.75 MWp PV project „Goldberg" (Mecklenburg-Western Pomerania) has started already in June 2016 and will be connected to the grid in September 2016. All modules and inverters have been installed during the last week. The feed-in tariff of 91.2/MWh was obtained by IBC Solar during the first auctioning process held in April 2015. The project is equipped with Neo Solar Power panels of 290Wp and Sungrow string inverters. As part of the transaction, 7C Solarparken AG has also secured the rights for a further extension of the project by 750 kWp which will be realised in 2017.

  Steven De Proost, CEO of 7C Solarparken AG comments: "Through this new investment we have raised our installed capacity to 90.5 MWp. Our objective under the Plan 2015-17 is still to reach 94 MWp before year-end 2016 and to grow to 105 MWp in 2017. Actually we have high visibility to achieve our capacity targets in time."

   

  7C Solarparken
  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 91 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

   

   

• 29.06.2016 - 7C Solarparken acquires 0.9 MWp rooftop installation near Rostock

  Bayreuth, 29 June 2016 – 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; stock exchange: regulated market in Frankfurt/Main (General Standard)) purchased an operational 0.9 MWp rooftop PV farm in Neubukow, close to Rostock (Mecklenburg-Western Pomerania). Through this investment, the company’s consolidated portfolio is rising to around 89 MWp. The PV power plant, equipped with First Solar panels and SMA string inverters, has been put into service in December 2008 and therefore enjoys a feed-in tariff of EUR 460.7/MWh. Without any further improvement initiatives, the installation will - under normal weather conditions - generate annual EBITDA of EUR 0.3 Mio. The project has been financed with long-term debt (EUR 2.0 Mio at year-end 2015).

  Steven De Proost, CEO of 7C Solarparken AG comments: “Over the last six weeks we have acquired three comparable rooftop projects with locations around Gotha, Wismar and Rostock. The installations were built by the same EPC contractor and underperform the initial study by 5 - 10% due to technical deficiencies. We have planned a technical optimization in the second-half of the year which will cost around EUR 0.5 Mio and will bring full cash flow benefits as from 2017 ". 

   

  7C Solarparken
  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 89 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

   

   

• 10.06.2016 - 7C Solarparken successfully completes the optimisation of the 13.7 MWp Miskina portfolio

  Bayreuth, 10 June 2016 – 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; stock exchange: regulated market in Frankfurt/Main (General Standard)) has reached an important milestone in its Strategy 2015-17 by fully executing the optimization of the Miskina portfolio (13.7 MWp) which has been acquired last year. The optimization encompasses an improvement of the performance ratio (PR) and a re-financing of the project loans, and exceeds management forecasts which have been communicated on last year’s Investor Day. Management’s priority will now shift to growth as to reach the 105 MWp target before year-end 2017.

  Technical optimization
  Two parks within the Miskina portfolio, Kissing (2.4 MWp) and Wiesenbach (1.8 MWp), have been yielding a PR of hardly 70% versus 77-78% levels achieved by the others parks in the portfolio. Through internalizing the O&M contract and exchanging the old stringboxes, inverters and transformers through high-efficiency equipment, both installations now reach a PR of 79% which bring EUR 160T in additional revenues per year. Further cost savings will result from a five-year inverter warranty, less repair costs and a reduction of own power usage by the stringboxes. While the improvement is fully matching management’s indication outlined at last year’s Investor Day, the total investment cost of EUR 0.7 Mio fell short of the EUR 1.0 Mio plan.

  Re-financing
  Parallel to the re-powering of the plant, management also executed a re-financing of the existing project loans. Under the new basis and excluding free available liquidity, net debt will amount to EUR 31.9 Mio at the end of June 2016. The average fixed interest rate has been reduced from 5.5% to 2.05% and will therefore generate annual savings of EUR 1Mio. The redemption penalty on the entire loan portfolio has been limited to EUR 2,3 Mio versus the management’s initial estimate of EUR 2,4 Mio which even did not reflect a re-financing of the loan on the Kissing project. On a like-for-like basis, the total saving therefore amounts to EUR 0.6 Mio which almost covers the technical optimization cost.

  More information on this optimization is available under a specific investor presentation on 7C Solarparken’s website.

   

  7C Solarparken
  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 88 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

   

   

• 25.05.2016 -7C Solarparken AG acquires 1.4 MWp rooftop installation near Wismar

  Bayreuth, 25 May 2016 – 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; stock exchange: regulated market in Frankfurt/Main (General Standard)) purchased an operational 1.4 MWp rooftop PV farm in Groß-Stieten, around 10km south of Wismar (Mecklenburg-Western Pomerania). Through this investment, the company’s consolidated portfolio is rising to around 88 MWp.

  The PV power plant, equipped with First Solar panels and SMA string inverters, has been put into service in December 2008 and therefore enjoys an attractive feed-in tariff of EUR 459.5/MWh. The installation was not free of technical defaults in the first years of operations, but after repair works in April 2013 the performance has significantly improved. However, the performance still falls approx. 5% short of the expert study of 921 kWh/kWp conducted immediately after the repair works.

  Without any further improvement initiatives, the installation will - under normal weather conditions - generate annual EBITDA of nearly EUR 475 T and has been financed with long-term debt of up to 10 years. At the end of 2015, the project loans totaled EUR 3.3 Mio.

   

   

   

• 13.05.2016 -7C Solarparken AG invests in a 1.4 MWp rooftop plant in Thuringia

  Bayreuth, 13 May 2016

  7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; stock exchange: regulated market in Frankfurt/Main (General Standard)) gained control in a 1.4 MWp rooftop PV farm in the district Gotha (Thuringia). Through this investment, the company’s consolidated portfolio is rising to 86.4 MWp.

  The Gotha plant generates annual EBITDA of over EUR 425 T and has been financed with long-term debt of up to 18 years. At the end of 2015, the project loans totaled EUR 2.7 Mio. In spite of the inclusion of tier-1 components, the park’s annual run-rate of 813 kWh/kWp is approx. 15% below the expert study mainly due to a lack of corrective maintenance causing significant inverter downtime. 7C Solarparken AG plans remedial investments, including a partial exchange of panels, to bring the plant’s performance back to reasonable levels already in the course of 2016.

   

   

• 21.04.2016 - 7C Solarparken AG reports a favorable cash flow development in 2015: EBITDA rose by 49% to EUR 24.9 million, well above the EUR 18-19 million guidance. Cash Flow prognosis for 2016 raised to EUR 0.43/share under base case assumptions.

  Bayreuth, 21 April 2016 

  7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; stock exchange: regulated market in Frankfurt/Main (General Standard)) has published EBITDA of EUR 24.9 million in 2015 versus EUR 16.7 million in 2014. Full-time consolidation of the Colexon and Pflugdorf solar assets have been a main driver for growth, in addition to positive weather conditions and operational improvement. Clean EBITDA even increased by 80% from EUR 11.2 million in 2014 to EUR 20.2 million in 2015. The cash flow per share metric, which the company considers as a key financial indicator, rose from EUR 0.26/share in 2014 to EUR 0.41/share in 2015 even in spite of a much higher number of shares. The company guided for EBITDA of EUR 18-19 million, EUR 18.2-18.8 million clean EBITDA and EUR 0.37-0.39 cash flow per share in 2015.

  Steven De Proost, CEO of 7C Solarparken AG is very pleased with the annual results: “While our 2015 operating results exceed our guidance in every way, most encouraging news is that we have strengthened our balance sheet and now offer an attractive risk/return profile to our shareholders. The equity ratio improved to 23.5%, net debt/EBITDA is already close to the optimal level of 6.0x and the risks resulting from Colexon’s history have been dramatically reduced after we negotiated a settlement on the Waldeck project. Furthermore, we demonstrated that we are able to generate additional value per share amid a context of capital increases.”

  
  Outlook for 2016

  The company expects to generate EBITDA of at least EUR 23.7 million in 2016 and a cash flow per share of EUR 0.43 (previously: EUR 0.42) under base case assumptions and reflecting (i) unfavorable weather conditions in the first quarter of 2016, (ii) the assumption of no acquisition of existing solar assets and (iii) scheduled outages related to the nearly finished optimization of the Kissing and Wiesenbach solar assets. Nevertheless, the management is confident to capture interesting opportunities during the year. The company’s cash flow guidance of EUR 0.50/share by 2017 is reiterated.

  
  Annual Report 2015

  The Annual Report 2015 is available on the company’s website (www.solarparken.com) under the Investor Relations section as of today at 8.00 pm CET. A conference call for analysts is scheduled on Friday 22.04.2016 at 10.00h CET. The analyst presentation will be simultaneously made available on the website.

   

  7C Solarparken

  7C Solarparken AG is a pure solar power plant operator with a portfolio of approx. 85 MWp; most of the installations are located in Germany. The company is listed on the Frankfurt Stock Exchange's Regulated Market (General Standard).

  More information:

  7C Solarparken AG
  An der Feuerwache 15
  95445 Bayreuth,
  Deutschland
  www.solarparken.com
  Steven De Proost, CEO
  info@solarparken.com
  Tel. +49 (0) (921) 230557 77

   

• 04.03.2016 - 7C Solarparken AG erweitert Portfolio durch Erwerb eines 2 MWp Solarparks auf einer Deponie in Fahrenholz (only available in German)

  Bayreuth, 4 March 2016 – Die 7C Solarparken AG (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; Börse: Regulierter Markt in Frankfurt/Main (General Standard)) hat heute einen Kaufvertrag über einen 2 MWp umfassenden Solarpark unterzeichnet, welcher noch unter den üblichen aufschiebenden Bedingungen steht. Vertragspartner ist der Generalunternehmer IBC SOLAR AG aus Bad Staffelstein, mit dem auch weitere Freiflächen PV Projekte in Deutschland entwickelt werden.

  Der Solarpark „Deponie Fahrenholz“ (Niedersachsen) mit einer Gesamtkapazität von 2.005 kWp ist ein seit Januar 2016 im Bau befindliches Neuprojekt. Der Netzanschluss ist für die letzte Märzwoche 2016 vorgesehen, bei einer Einspeisevergütung nach EEG Tabelle in Höhe von EUR 89,1/MWh. Installiert werden Module von Risen mit einer Nennleistung von 310Wp und Stringwechselrichter von Sungrow.

  Steven De Proost, Vorstandsvorsitzender der 7C Solarparken kommentiert hierzu: „Mit dieser Transaktion heben wir unser Portfolio nach dem zuletzt erfolgten Verkauf der Solaranlage in Blumenthal wieder auf eine Gesamtkapazität von 85 MWp zurück. Auch in Zeiten sinkender Vergütungssätze sehen wir weiteres Potential für neue Anlagen dank der derzeit historisch niedrigen Zinssätze und Steuervorteile. Unser Ziel besteht unverändert darin, die Schwelle von 105 MWp vor dem Jahresende 2017 zu erreichen.“

  7C Solarparken

  7C Solarparken AG ist ein reiner Solarkraftwerksbetreiber mit einem Portfolio von ca. 85 MWp; die meisten PV-Anlagen befinden sich in Deutschland. Das Unternehmen ist im regulierten Markt der Börse in Frankfurt im Segment General Standard notiert.

  More information:

  7C Solarparken AG
  An der Feuerwache 15
  95445 Bayreuth,
  Deutschland
  www.solarparken.com
  Steven De Proost, CEO
  info@solarparken.com
  Tel. +49 (0) (921) 230557 77

   

• 29.02.2016 - 7C Solarparken AG: Strong power production data for 2015, EBITDA of more than EUR 20 million expected 
  

  Bayreuth, 29 February 2016 - 7C Solarparken`s (WKN: A11QW6, ISIN: DE 000A11QW68 / WKN: A14KRM ISIN: DE000A14KRM4; stock exchange: regulated market in Frankfurt/Main (General Standard) PV plants produced a total of 74.7 GWh versus 46.3 GWh in 2014. The main driver behind the significant increase of 61.4% has been the expansion of installed capacity reflecting i) full-year consolidation of all Colexon plants and Pflugdorf, ii) first-time consolidation of Glauchau 1, Glauchau 3 and Stolberg and to a minor effect iii) the inclusion of the Miskina parks as from November 2015. The weighted anual capacity during 2015 rose from 47 MWp in 2014 to 72 MWp as a result. At year-end 2015, capacity reached 86 MWp.

  On a relative basis 7C’s portfolio did improve its specific yield from 995 kWh/kWp in 2014 to 1044 kWh/kWp in 2015. Out of the 4.9% improvement, a structural improvement of 1% in Performance Ratio was realized from the optimization of the parks in Thierhaupten and Zernsdorf, while the other 3.9% was obtained from above-average weather conditions in the company’s locations. According to the German Meteorological Service (DWD), the global horizontal irradiance in Germany was ca. 5% above long-term averages; irradiation across Bavaria were, depending on location, 1% to 4% better than normal while Saxony-Anhalt and Brandenburg were even 9-10% better.

  A combination of solid production data, continued cost rationalization and different one-time effects in Q4’15 according to still preliminary figures has boosted full-year EBITDA 2015 significantly above the guidance of EUR 18-19 million and even exceeded the EUR 20 million mark. One-time effects, amongst others, include:

  • The gain on the sale of the 1 MWp PV plant in Sainte-Maxime to the Swiss operator Edisun Power Europe.

  • Badwill arising from last quarter’s investments in the Leipzig area and Lower Bavaria.

  • Out-of-court settlement on the PV plant Waldeck.

  „We are very satisfied with the underlying quality of our production data“, comments Steven De Proost, CEO of 7C Solarparken AG. „The most exciting event has however been the negotiated settlement on Waldeck with a favourable effect on our balance sheet. This long-lasting litigation was provisioned as the largest single risk arising from the history of Colexon Energy AG.”

  7C Solarparken AG will publish its final financial figures for 2015 at the end of April 2016.

   

  Asset Sale for 2016 already concluded

  Aside from planned growth initiatives to reach 105 MWp before year-end 2017, the company’s Strategic Plan also foresees an annual EBITDA gain of at least EUR 0.2 million through the structuring and sale of an existing plant. Within this plan, demand for assets with secured yield has triggered the opportunistic disposal of the company’s 3.1 MWp PV park in Blumenthal already in Q1’16. No further asset sales are foreseen in 2016 as a result. 

• 04.01.2016 - 7C Solarparken AG: Ausübung der Optionsanleihe zum Optionspreis von EUR 1,76 je Aktie (only available in German)
  

  Bayreuth, den 04.Januar 2016 - Die Inhaber der im August 2014 begebenen Optionsschuldverschreibung der 7C Solarparken AG, Bayreuth (WKN: A11QW6, ISIN: DE 000A11QW68; Börse: Regulierter Markt in Frankfurt/Main (General Standard)), haben im Ausübungszeitraum bis zum 24.12.2015 die Ausübung von 803.018 Inhaber-Optionsscheinen erklärt. Entsprechend wurden 803.018 Stück neue 7C Solarparken AG Aktien zu EUR 1,76 pro Aktie bzw. einem Gegenwert von EUR 1.413.311,68 gezeichnet. Die Gesamtzahl der ausstehenden Aktien wird daher von 40.477.717 Stück auf 41.280.735 Stück steigen. Mit dem heutigen Tag sind noch 0.3 Mio. Optionsrechte aus der Optionsschuldverschreibung ausstehend. Sie können zu EUR 1,98 pro Aktie im Jahr 2016 gewandelt werden.

• 16.12.2015 - Edisun Power aquires from 7C Solarparken a PV-installation of 1 MW in South of France (only available in German) 
  

  Bayreuth/Zürich, December 16th, 2015 - Am 16. Dezember 2015 unterzeichneten Edisun Power und 7C Solarparken den Kaufvertrag für die 1 MWp Freiflächenanlage Sainte Maxime in Südfrankreich. Edisun Power France SAS kauft von 7C Solarparken AG 100% der Aktien der Sainte Maxime Solaire SAS und übernimmt die bestehende Anlagenfinanzierung.

  Gemäß dem vorgestellten strategischen Ziel einer Erhöhung des jährlichen EBITDA um EUR 0,2 Mio. durch Anlagenverkäufe, hat sich die 7C Solarparken AG für eine Veräußerung der Anlage St. Maxime entschieden. Durch den Verkauf der Anlage Sainte Maxime wurde dieses Ziel für 2015 komfortabel erreicht. Der Verkauf der gut produzierenden Anlage beendet die Präsenz von 7C Solarparken in Frankreich und verstärkt deren Vision einer auf den deutschen Markt fokussierten Unternehmung.

  Die Akquisition ist ein weiterer erfolgreicher Schritt in der Umsetzung der Wachstumsstrategie von Edisun Power. Der französische Markt stellt für Investitionen in PV-Anlagen einen risiko-/ ertragsmässig interessanten Markt dar, welchen Edisun Power durch die bestehende Präsenz mit 10 Anlagen mit insgesamt 3,8 MWp bereits gut kennt. Die neue Anlage steuert EUR 0,5 Mio. zum jährlichen Umsatz bei und resultiert in einer weiteren Verbesserung des Nettoresultates für Edisun Power.
  

   

  Edisun Power Gruppe

  Als kotierter europäischer Solarstromproduzent finanziert und betreibt die Edisun Power Gruppe Solarstromanlagen in verschiedenen europäischen Ländern.
  Edisun Power startete ihr Engagement auf diesem Gebiet bereits 1997.
  Seit September 2008 ist das Unternehmen an der Schweizer Börse kotiert.
  Edisun Power verfügt bei der Realisierung und beim Kauf sowohl nationaler als auch internationaler Projekte über breite Erfahrung.
  Ende November 2015 besitzt das Unternehmen 33 Solarstromanlagen in der Schweiz, in Deutschland, Spanien und Frankreich, mit einer Leistung von total 14.8 MWp
  
  Für weitere Informationen:
  Edisun Power Europe AG
  Universitätstrasse 51 8006 Zürich,
  Schweiz
  www.edisunpower.com
  Rainer Isenrich, CEO
  info@edisunpower.com
  Tel. +41 44 266 61 20

  7C Solarparken

  7C Solarparken AG ist ein reiner Solarkraftwerksbetreiber mit einem Portfolio von mehr als 85 MWp, die meisten Anlagen befinden sich in Deutschland.
  Das Unternehmen ist an der Deutschen Börse in Frankfurt im Segment General Standard kotiert.

  Für weitere Informationen:
  7C Solarparken AG
  An der Feuerwache 15
  95445 Bayreuth,
  Deutschland
  www.solarparken.com
  Steven De Proost, CEO
  info@solarparken.com
  Tel. +49 (0) (921) 230557 77

   

   

• 10.12.2015 - 7C Solarparken AG aquires rooftop installations of 644 kWp in the region Leipzig (only available in German) 
  

  Bayreuth,December 10th, 2015 - Die 7C Solarparken AG, Bayreuth (WKN: A11QW6, ISIN: DE 000A11QW68; Börse: Regulierter Markt in Frankfurt/Main (General Standard)) hat heute die Melkor Beteiligungs UG (haftungsbeschränkt) von einer regionalen Leasinggesellschaft erworben. Der Solarpark umfasst eine Leistung von 644 kWp und ist auf verschiedenen Dächern von Wohnheimen im Leipziger Raum errichtet worden.

  Die Anlagen wurden im Zeitraum 2010 bis 2012 mit einer durchschnittlichen Einspeisevergütung von EUR 330/MWh in Betrieb genommen und bestehen aus hochqualitativen Komponenten wie Chaori-Modulen sowie Wechselrichtern der Hersteller Power-One und SMA. Der Solarpark wird ab 2016 einen jährlichen EBITDA-Beitrag von TEUR 190 generieren. Das Gesamtinvestitionsvolumen beläuft sich auf EUR 1.9 Mio., wovon 70% durch die bestehende Projektfinanzierung gedeckt werden. Die Investition wird ab sofort in den Konsolidierungskreis des 7C Solarparken Konzerns aufgenommen.

• 27.11.2015 - 7C Solarparken AG invests approx. EUR 7m in PV parks & PV estate in Bavaria (only available in German) 
  

  Bayreuth, November 27th, 2015 - Die 7C Solarparken AG, Bayreuth (WKN: A11QW6, ISIN: DE 000A11QW68; Börse: Regulierter Markt in Frankfurt/Main (General Standard)) hat im niederbayerischen Landkreis Straubing-Bogen Bayern zwei Solaranlagen inklusive der zugehörigen Grundstücke und Immobilien erworben.

  Das gekaufte PV Objekt besteht aus einer PV Freiflächenanlage mit 1,2 MWp installierter Leistung auf einem 5 Hektar großen Grundstück und einer PV Aufdachanlage mit 618 kWp installierter Leistung. Beide Anlagen sind im Jahr 2010 in Betrieb genommen worden und bestehen aus hochqualitativen Komponenten. Das PV Objekt wurde für EUR 5,0 Mio. erworben und wird einen jährlichen EBITDA-Beitrag von mindestens EUR 0,5 Mio. generieren. Eine Projektfinanzierung über ca. 70% des Investments wurde mit einem über fünf Jahre festgeschriebenen Zinssatz  in Höhe von 1,75% abgeschlossen.

  Neben der Photovoltaikanlage erwarb 7C Solarparken das 5 Hektar umfassende PV-Grundstück und die ehemaligen Betriebsimmobilien mit einer Grundfläche von 59.000 m², davon 6.000 m² Nutzfläche der Gebäude. Auch wenn ein Teil der Nutzfläche an ein Maschinenbauunternehmen vermietet wird, plant die 7C Solarparken AG weitere Steigerungen des Nutzungsgrades am Standort, durch i) Nutzung leer stehender Hallen zur Optimierung der eigenen Logistik- und Messprozesse und ii) Untersuchung der Option zur Errichtung einer 1 MWp Ost-West Photovoltaikanlage auf der bisher ungenutzten, versiegelten Fläche. Insgesamt stellt das Grundstück eine Investition im Wert von EUR 1,9 Mio. dar.

   

• 08.09.2015 - 7C Solarparken AG publishes the new Business Plan 2015-2017. 
  

  Bayreuth, September 8th, 2015 - 7C Solarparken AG today presents its “Capital Appreciation through Consolidation” Plan at its Analyst Day in Bayreuth for 2015-17 which should improve Cash Flow Per Share (CFPS) to EUR 0.50 by 2017. The four pillars behind this development are:

  * Sizeable acceleration in capacity from 71 MWp to 105 MWp

  * Asset value optimisation of the newly acquired 13.7 MWp portfolio

  * More active portfolio management to generate EUR 0.2 Mio in recurring income

  * Rationalisation of legal structures

  Over the last years, management has demonstrated its capability to seize M&A opportunities, to integrate new portfolios and to create value as reflected by a progressive increase of Cash Flow Per Share. While the objectives outlined within the 2014-16 Plan were principally centered on integrating Colexon, the new Plan is a logical consequence in the build-out of the company. Steven De Proost, CEO of 7C Solarparken AG comments: “It is our absolute priority to move towards 100 MWp while continuing to respect our investing criteria. The 100 MWp mark will ensure our company to gain further momentum in the industry and in the financial community.”

  Financial targets for 2017

  In its presentation totay the company also forecasts  new financial parameters for 2017:

  * Cash Flow Per Share: EUR 0.50

  * Net debt/EBITDA below 6.0x

  * Dividend or dividend-equivalent: EUR 0.10 per share

  The new plan assumes a total number of shares of 41.6 million versus 33.5 million actually. The increase will principally stem from the 5.2 million share exchange regarding the 13.7 MWp portfolio acquisition and further option conversions (2.2 mio. outstanding options). The management board also sees further potential in the possibility of a private placement or new contribution in kind.

  Koen Boriau, CFO of 7C Solarparken AG: “Achievement of our plan will see our net debt/EBITDA falling well below 6.0x by 2017. As a result, our financial leverage will rank among the lowest in our peer group which fuels the potential for further M&A growth or shareholder remuneration beyond 2017.”

   

• 20.03.2015 - 7C Solarparken AG: Acquisition of 1.1 MWp rooftop installation Glauchau I (only available in German)

  • Erwerb der 1,1 MWp Aufdachanlage in Glauchau führt zu einer Erhöhung des jährlichen Cashflow je Aktie um 2 %
  • Jährlicher EBITDA-Beitrag in Höhe von EUR 0,3 Mio.
  • Kauf weiterer Anlagen wird kurzfristig erfolgen

  Bayreuth, den 20. März 2015 – Die 7C Solarparken AG hat heute eine 1,1 MWp Aufdachanlage in Glauchau, Sachsen, erworben. Diese Anlage wurde von der damaligen COLEXON Energy AG in den Jahren 2009 und 2010 installiert, die 7C Solarparken AG war seitdem mit der Instandhaltung beauftragt. Damit beläuft sich das IPP-Portfolio nach dem im Dezember 2014 erfolgten Verkauf der Aufdachanlage in Radeberg sowie dem Kauf einer 0,6 MWp Freiflächensolaranlage in Stolberg im Februar 2015 aktuell auf insgesamt 72,3 MWp. In Folge dieser Maßnahmen erhöht sich das EBITDA jährlich um EUR 0,3 Mio. Gleichzeitig wirkt sich der Erwerb in Glauchau positiv auf den Cash Flow aus. Dieser nimmt pro Aktie um 2 % zu.

  Mit Blick auf den aktuellen Stand der Umsetzung der Unternehmensstrategie für die Geschäftsjahre 2014 bis 2016 hat die Gesellschaft einen Großteil der anvisierten Eckpunkte bereits erfüllt. Gegenüber dem Geschäftsjahr 2013 wurden die Kosten in 2014 um EUR 1,9 Mio. verringert. Die Arbeiten zur Verbesserung der technischen Leistungsfähigkeiten der vorhandenen Anlagen im Portfolio werden bis Juni 2015 abgeschlossen. Darüber hinaus plant die 7C Solarparken AG kurzfristig den Erwerb weiterer Solaranlagen, um im Rahmen des selektiven Wachstums den geplanten jährlichen EBITDA-Beitrag in Höhe von EUR 0,6 Mio. vor dem Ende des zweiten Quartals 2015 zu realisieren.

  Eine Präsentation zur erworbenen Aufdachanlage in Glauchau sowie dem aktuellen Stand der Umsetzung der Unternehmensstrategie kann hier eingesehen werden.

  Kontakt:
  7C Solarparken AG
  An der Feuerwache 15
  95445 Bayreuth
  Deutschland
  FON: +49 (0) (921) 230557 77
  FAX: +49 (0) (921) 230557 79
  EMAIL: info@solarparken.com
  www.solarparken.com

   

• 25.02.2015 - 7C Solarparken AG: Changes in the Supervisory Board (only available in German)

  Bayreuth, 25.02.2015 - Im Aufsichtsrat der 7C Solarparken AG (WKN A11QW6/ ISIN DE 000A11QW68; General Standard) hat sich ein Wechsel ergeben. Nachdem das Aufsichtsratsmitglied Markus Kienle sein Amt mit Wirkung zum 28. Februar 2015 aus familiären Gründen niedergelegt hat, wurde durch den Vorstand die gerichtliche Bestellung von Herrn Karl Heinz Einhäuser, Schmalkalden, beantragt. Der Vorstand wurde heute darüber informiert, dass das Amtsgericht Bayreuth dem Antrag der Gesellschaft mit Wirkung zum 1. März 2015 entsprochen hat.

  Herr Einhäuser ist Geschäftsführer der Viba sweets GmbH, einem mittelständischen deutschen Süßwarenunternehmen, welches die 7C Solarparken AG seit vielen Jahren als Aktionär begleitet.

• 12.01.2015 - 7C Solarparken AG announces an ahead of schedule implementation of its strategy 2014-2016. The entire amount of own shares were placed out today in a few hours’ time.

  Bayreuth, 12.02.2015 - Only five months after the release of the Plan 2014-16, 7C Solarparken AG is much ahead of schedule in delivering its strategic objectives regarding cost-savings and optimization. Focus will now move to realizing the selective growth pillar of the strategy, which is expected to be finalized during Q2’15.
  
  

  Summary of Plan 2014-16
  
  The Strategic Plan 2014-16 was anchored on three pillars to achieve a cash flow per share of € 0.40 by 2016 based on 33.7mio shares. Key contributors were i) a cost savings plan of € 1.9mio, ii) improved output efficiency of 0.75% for the entire portfolio mainly driven by optimization work in Thierhaupten (5.0 MWp) and Zernsdorf (1.5MWp), and iii) selective growth to add € 0.6mio in annual EBITDA.

   

  • Cost-savings: have been realized in full owing to a deep restructuring and cost management (rent, IT, advisory). Head office has been transferred to Bayreuth.
  • Optimization: Aside from re-financing of the project companies with installations in Thierhaupten, Kettershausen, Zernsdorf and Blumenthal II – the primary focus has been on improving the technical performance in our second largest plant (Thierhaupten) through exchanging panels and reducing mismatch. Works have been successfully completed at the end of January 2015. The works in Zernsdorf have been initiated too and will be finished during Q2’15.
  • Selective growth: At the end of 2014, we have sold the Radeberg 858 kWp rooftop-installation to a Danish investor. Small asset sales (<1MWp) to Danish tax-driven investors at the end of a year have been a tradition at 7C Solarparken NV as long as they bring a substantial financial opportunity. The proceeds of this asset sale have been re-invested in the newly acquired 648 kWp ground-mounted PV plant in Stolberg (close to Aachen). In addition, we managed to acquire the 9.943 m² land to reinforce our PV Estate portfolio. The land was a former military camp of the Belgian Army in Germany. Further acquisitions will ensure that our selective growth pillar will be executed in Q2’15.

  
  Placement of own shares
  
  After yesterday’s  announced decision, we have placed  out the 409,739 own shares successfully in a few hours’ time, and as a result 7C Solarparken AG does not own shares as of 12.02.2015 anymore.

• 28.01.2015 - COLEXON Enery AG changes name to 7C Solarparken AG and its seat to Bayreuth. Capital reduces due to entry of own shares to 31.738.457,00 EUR. only available in German)
  

  Bayreuth, den 28. Januar 2015 – Dem Vorstand der COLEXON Energy AG (WKN A11QW6/ ISIN DE 000A11QW68; General Standard) wurde jetzt die Eintragung von Beschlüssen der außerordentlichen Hauptversammlung vom 12. Dezember 2014 bestätigt. Demnach firmiert das Unternehmen ab sofort unter 7C Solarparken AG mit dem neuen Firmensitz Bayreuth. Darüber hinaus wurde das Grundkapital der Gesellschaft nach dem Einzug eigener Aktien um 2.300.037,00 EUR auf 31.738.457,00 EUR herabgesetzt.

  Die neue Firmierung als 7C Solarparken AG wurde von den Aktionären im Dezember beschlossen, um die neue Ausrichtung der Gesellschaft zu verdeutlichen. Positive Veränderungen sind bereits erkennbar in einem erheblichen Ausbau des Portfolios der Gesellschaft um rund 41 MWp auf mittlerweile 71 MWp sowie einer laufenden Optimierung der Bestandsanlagen. Diese steht aus Sicht des Vorstands nach den abgeschlossenen erheblichen Kostenkürzungen nun im Fokus, um die Ertragsstärke weiter zu erhöhen.

  Deshalb fiel die Wahl des neuen Firmensitzes auch auf Bayreuth, da dieser Standort aufgrund der geographischen Verteilung der eigenen Photovoltaikanlagen strategisch vorteilhaft ist.

  Vor dem Hintergrund der neuen Firmierung tritt die 7C Solarparken AG auch mit einem neuen Web-Auftritt in Erscheinung. Dieser ist erreichbar unter www.solarparken.com.

• 08.10.2014 - COLEXON Enery AG: Announcement in accordance with § 30b (1) sentence 1 no. 2 WpHG (only available in German)

  Bekanntmachung gemäß § 30b Abs. 1 Satz 1 Nr. 2 WpHG (Eintragung Kapitalerhöhung)
  Die ordentliche Hauptversammlung der COLEXON Energy AG hat – neben weiteren Kapitalmaßnahmen – am 17. April 2014 unter Tagesordnungspunkt 6.4 beschlossen, das gemäß den Tagesordnungspunkten 6.1 und 6.2 der Hauptversammlung vom 17. April 2014 auf EUR 8.872.278,00 herabgesetzte Grundkapital der Gesellschaft, eingeteilt in 8.872.278 auf den Inhaber lautende nennwertlose Stammaktien (Stückaktien) mit einem rechnerischen Anteil am Grundkapital von EUR 1,00 je Aktie um bis zu EUR 24.717.000,00 auf bis zu EUR 33.589.278,00 durch Ausgabe von bis zu 24.717.000 neuen auf den Inhaber lautenden nennwertlosen Stammaktien (Stückaktien) mit einem rechnerischen Anteil am Grundkapital von EUR 1,00 je Aktie gegen Sacheinlagen zu erhöhen. Gegenstand der Sacheinlagen sind bis zu 7.062 Anteile an der 7C Solarparken NV.
  
  Das gesetzliche Bezugsrecht der Aktionäre wurde dabei ausgeschlossen. Zur Zeichnung der neuen Aktien wurden ausschließlich die Aktionäre der 7C Solarparken NV zugelassen. Die neuen Aktien sind gewinnberechtigt ab dem Beginn des Geschäftsjahres, in dem die Kapitalerhöhung in das Handelsregister eingetragen wird.
  
  Der vollständige Wortlaut des Beschlusses zum Tagesordnungspunkt 6.4 wurde in der am 10. März 2014 im Bundesanzeiger veröffentlichten Einladung zur ordentlichen Hauptversammlung wiedergegeben. Hierauf wird hinsichtlich der weiteren Einzelheiten verwiesen.
  
  Die Kapitalerhöhung wurde in voller Höhe gezeichnet. Der Beschluss über die Kapitalerhöhung wurde am 9. September 2014 in das Handelsregister beim Amtsgericht Hamburg (HRB 93828) eingetragen. Die Durchführung der Kapitalerhöhung wurde am 2. Oktober 2014 in das Handelsregister eingetragen, womit die Kapitalerhöhung wirksam geworden ist. Das Grundkapital der COLEOXN Energy AG beträgt nunmehr EUR 33.589.278,00, eingeteilt in 33.589.278 neue auf den Inhaber lautende nennwertlose Stammaktien (Stückaktien).
  
  Hamburg, im Oktober 2014
  
  COLEXON Energy AG - ISIN: DE 000 A11QW68 / WKN: A11QW6

  Der Vorstand

• 29.09.2014 - COLEXON Energy AG: The new group targets annual growth in Cash Flow Per Share of at least 20% per year

  Hamburg, 29.09.2014 – Following the business combination between Colexon  Energy AG and 7C Solarparken NV, the new group is presenting to the financial community the outlook and objectives of the new company for the period 2014-‘16. The presentation can be accessed here contains the following key messages:
  
  •    As a pure play owner-operator of PV assets in Germany, the new Colexon Energy AG is stressing the relevance of shareholder value and cash flows rather than megawatts, and accordingly defines its new targets in “Cash Flow Per Share (CFPS)“. Management is emphasizing maximum cost rationalisation, better PV plant efficiency and selective growth in IPP and PV Estate to reach a CFPS of € 0.40 by 2016. The new group sees economic EBITDA rising to € 20mio (*) by 2016 while net economic debt should drop below € 15mio.
  
  •    The majority of the growth in cash flow will come from a sustainable € 2mio cost-reduction program and a performance-driven management of existing parks. Internal optimisation gains evidently mirror management’s priority as they add substantial EBITDA for minimal capital intensity.
  
  •    New capacity growth will be highly selective and must fulfil strict investment discipline offering returns of at least returns 250bps above new-build IRR. The existing pipeline will be progressively executed as soon as the internal optimisation work is achieved.
  
  •    Further development of PV Estate assets is envisaged as the current platform already encompasses 60ha of ground and buildings, and offers stable cash flows aside from long-life value.
  
  (*): assuming a normal year of irradiation. Given a 5% standard deviation on irradiation level, EBITDA is anticipated in the range € 19-21mio.
  
  Upcoming dates
  
  18. November 2014    Publication of Interim Management Statement during the 2nd half year
  
  
  Contact:
  
  COLEXON Energy AG
  Große Elbstr. 43
  22767 Hamburg
  Deutschland
  FON: +49 (0)40. 28 00 31-100
  FAX: +49 (0)40. 28 00 31-102
  EMAIL: info@colexon.de  
  www.colexon.de

   

• 25.09.2014 - With immediate effect new fax number

  Hamburg, 05.09.2014 - COLEXON Energy AG (WKN: A11QW6, ISIN: DE000A11QW6;  Börse: Regulierter Markt in Frankfurt/Main (General Standard)) points out that it's fax number has changed and is now as follows: +49 3221 122 680 448.

   

• Announcement in accordance with § 221 (2) sentence 3 AktG (only available in German)

  Bekanntmachung gemäß § 221 Abs. 2 Satz 3 AktG

  Die Gesellschaft hat aufgrund des Ermächtigungsbeschlusses der Hauptversammlung vom 17. April 2014 durch Beschluss des Vorstands vom 29. Juli 2014 mit Zustimmung des Aufsichtsrats vom 29. Juli 2014 insgesamt 4.436.139 Teilschuldverschreibungen im Nennbetrag von jeweils EUR 0,34 (Gesamtnennbetrag EUR 1.508.287,26) nebst jeweils einem Inhaber-Optionsschein ausgegeben.
  
  Der Beschluss der Hauptversammlung und die Erklärung über die Ausgabe der Wandelschuldverschreibungen sind beim Handelsregister des Amtsgerichts Hamburg hinterlegt.

  
  Hamburg, im September 2014
  
  COLEXON Energy AG - ISIN: DE 000 A11QW68 / WKN: A11QW6

  Der Vorstand
  Der Vorsitzende des Aufsichtsrats

• 10.09.2014 - COLEXON Energy AG: The corresponding entry was made in the Commercial Register – 7C Solarparken NV is now a 100% subsidiary of COLEXON (only available in German)

  Hamburg, den 10.09.2014 - Die COLEXON Energy AG (WKN: A11QW6, ISIN: DE000A11QW6; Börse: Regulierter Markt in Frankfurt/Main (General Standard)) kann mit der Eintragung des Beschlusses über die Erhöhung des Grundkapitals um bis zu 24.717.000,00 EUR auf bis zu 33.589.278,00 EUR gegen Sacheinlagen in das Handelsregister am gestrigen Nachmittag einen weiteren Meilenstein in dieser Transaktion vermelden. 
  
  Rechtlich handelt es sich bei der Übernahme der 7C Solarparken gemäß IFRS 3 um einen “umgekehrten Unternehmenserwerb“ (Reverse Acquisition), welcher so auch im Konzernabschluss der COLEXON zu erfassen ist. Demzufolge ist die 7C Solarparken als wirtschaftlicher Erwerber der COLEXON darzustellen. Die gestrige Eintragung des Beschlusses über die Kapitalerhöhung der COLEXON in das Handelsregister führt zur Beherrschung der COLEXON, da 24.717.000 neue Aktien ausgegeben werden und somit die Mehrheit (d.h. 73,6% ohne Berücksichtigung der eigenen Aktien) am Grundkapital auf die bisherigen 7C Solarparken-Aktionäre übergeht. Der 09.09.2014 ist damit der Erstkonsolidierungstag der 7C Solarparken im Konzernabschluss der COLEXON. 
  
  Demnach werden in der Gewinn- und Verlustrechnung des Konzerns zum 31.12.2014 die Werte der 7C Solarparken vollständig für das gesamte Geschäftsjahr 2014 abgebildet, während die Werte der COLEXON nur zeitanteilig, also ab dem 09.09.2014, konsolidiert werden.  Das bis zu diesem Datum aufgelaufene Ergebnis der COLECON wird ergebnisneutral im Eigenkapital dargestellt.
  
  Der Vorstand von COLEXON geht nun davon aus, dass die Durchführung der Kapitalerhöhung, der letzte Schritt in der Transaktion, bis Mitte Oktober vollzogen wird. 
  
  
  Anstehende Termine
  18. November 2014    Veröffentlichung der Zwischenmitteilung im zweiten Halbjahr 2014
  
  Kontakt: 
  COLEXON Energy AG
  Große Elbstr. 43
  22767 Hamburg 
  Deutschland
  FON: +49 (0)40. 28 00 31-100
  FAX: +49 (0)40. 28 00 31-102
  EMAIL: info@colexon.de  
  www.colexon.de

• 05.09.2014 - COLEXON Energy AG: 7C Solarparken extends its solar park portfolio by the acquisition of a 4,4 MWp solar park in Bavaria with a contribution of 1.5 mio. EUR to the EBITDA (only available in German)

  Hamburg, den 05.09.2014 - Die COLEXON Energy AG (WKN: A11QW6, ISIN: DE000A11QW6; Börse: Regulierter Markt in Frankfurt/Main (General Standard)) kann die erfolgreiche Übernahme eines 4,4 MWp umfassenden Solarparks in Bayern durch die 7C Solarparken NV vermelden. Die Anlage wurde vollständig erworben infolge einer Übernahme der High Yield Solar Investments BV, Hilversum (Niederlande). Damit profitiert die 7C Solarparken NV nun von einem seit 2008 am Netz angeschlossenen Solarpark in Pflugdorf, welcher auf einer Fläche von 16,5 Hektar im Eigenbesitz installiert ist. Pflugdorf befindet sich in einem der sonnenreichsten Gebiete Bayerns und liefert aufgrund der örtlichen Nähe weiterer Solarparks der COLEXON und 7C (Kettershausen, Moorenweis und Maisach) wertvolle Synergieeffekte. Die Anlage erwirtschaftet im laufenden Jahr 2014 insgesamt ein EBITDA von rund 1,5 Mio. EUR und wird nach erfolgtem Übergang per 31. August 2014 insofern zukünftig auch einen positiven Ergebnisbeitrag leisten.
  
  Weitere Informationen können einer detaillierten Präsentation entnommen werden, welche auf der Homepage der COLEXON Energy AG hier zu finden ist.
  
  Anstehende Termine
  18. November 2014 Veröffentlichung der Zwischenmitteilung im zweiten Halbjahr 2014
  
  Kontakt:
  COLEXON Energy AG
  Große Elbstr. 43
  22767 Hamburg
  Deutschland
  FON: +49 (0)40. 28 00 31-100
  FAX: +49 (0)40. 28 00 31-102
  EMAIL: info@colexon.de
  www.colexon.de