3U Awarded A Contract In The Federal Network Agency's Onshore Wind Energy Tendering Process

EQS-News: 3U HOLDING AG / Key word(s): Strategic Company Decision
3U awarded a contract in the Federal Network Agency's onshore wind energy tendering process
08.07.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

3U awarded a contract in the Federal Network Agency's onshore wind energy tendering process

• Another milestone achieved in the planned capacity expansion
• Repowering project covering 31 MW now moving into implementation
• 3U Group invests around EUR
  70 million
• New facilities to be connected up to the grid before the end of 2025

Marburg, 8 July 2024 – Last week Germany's Federal Network Agency (FNA) announced the results of its most recent round of tendering for (onshore) wind turbines, which will form the basis for determining the future level of remuneration for the electricity.

A subsidiary of 3U HOLDING AG (ISIN DE0005167902) in the Renewable Energies segment was also awarded a contract. The planned new wind turbines in Langendorf in the Burgenland district of Saxony-Anhalt have already been commissioned and building activities can now commence. Back in March 2024, 3U received approval under Germany's Federal Immission Control Act for the construction of the wind turbines. Accordingly, the requirements for participating in the FNA's May tender were fully met.

The FNA has been issuing invitations to tender since 2017 for the purpose of determining the funding of onshore wind turbines. The value ascertained serves as a basis for calculating the amount of remuneration in accordance with Germany's Renewable Energy Sources Act (EEG) for the respective wind farm operators. The prices of the successful bids in the pay-as-bid in the May auction for onshore wind energy were between 7.20 and 7.35 cents per kilowatt hour. The 3U company received an award price of 7.34
ct/kWh.

Ramping up capacity to 43.0 MW – investments of approximately EUR 70 million

3U's repowering project provides for seven of the 15 existing wind turbines to be replaced by five new turbines. To this end, the 3U Group is investing around EUR
70 million in its own project development through to completion. Financing is to be sourced from available liquidity, but first and foremost via debt financing on favourable terms from a renowned financial institution. The project will enter into the implementation phase in the near future. The delivery and installation of the wind turbines and the completion of the new substation in the Langendorf Wind Farm have been planned for the second half of 2025. The new facilities are scheduled to go live and generate electricity before the end of 2025.

The new Vestas V162 turbines have a nominal output of 6.2 megawatts (MW), a hub height of 169 meters and a rotor diameter of 162 meters. Implementing the project will raise the installed capacity in Langendorf from 22.5 MW to 43.0 MW. The electricity production anticipated will increase even more, providing around 30,000 households with green electricity. In addition, the wind farm will also save more than 40,000 tons of carbon dioxide a year.

“We are delighted that the Federal Network Agency has awarded us the contract for the expansion we envisage in our Renewable Energies segment. The contract represents another key step in implementing the planned repowering project in Langendorf, with a view to raising our capacities there to an installed output of 43.0 MW, while more than doubling the electricity production we expect. This will enable us to make our contribution to realising the energy transition,” states Christoph Hellrung, 3U HOLDING AG's Chief Financial Officer and Management Board member responsible for the Renewable Energies segment.

About 3U:

3U HOLDING AG (), based in Marburg, Germany, was founded in 1997. As the operating management and investment holding company, it heads up the 3U Group. With a view to increasing the value for the shareholders, employees, customers, suppliers and all stakeholders, the company acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and SHAC (Sanitary, Heating and Air Conditioning Technology). The 3U Group operates successfully and profitably with its business models in mega trends in all three segments and is striving to attain market leadership in particular with its e-commerce business model. 3U HOLDING AG shares are traded on XETRA, Tradegate and on German regional stock exchanges (ISIN: DE0005167902).

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