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Contact: +49 40 320 27 210 | office@blueelephantenergy.com de en

INVESTMENTHIGHLIGHTS OF BLUE ELEPHANT ENERGY

Attractive market

Growing public awareness of the climate crisis is driving developments in the energy markets in favor of renewable energies


» Rising demand for renewable energies in response to the global climate crisis offers an attractive growth opportunity

» Technological progress and economies of scale are driving down the costs of solar and wind power plants, improving the competitiveness of these technologies. With newly installed production capacity, photovoltaics and wind are already cheaper than conventional alternatives

» Reinforcement of the trend through public investment and regulation in the context of climate protection. The EU Green Deal pursues the goal of achieving climate neutrality in the countries of the European Union by 2050

Positioning

Strong position in a fragmented market


» Acquired a portfolio of 67 solar parks and 13 onshore wind farms with a total capacity of 1,228 MWp1 within only about 6 years from inception

» Geographical diversification with sustainable power generation in eight countries so far: Germany, France, Greece, Italy, Netherlands, Spain, Chile and Dominican Republic

» Rapid growth through highly qualified team and excellent network in the industry

Low-risk business model

Clear goal of minimizing risk through proven investment criteria and strategies


» Investment approach: "Cherry Picking" through the acquisition of projects in the market with attractive return/risk profiles with high cash flow visibility (PPA & FIT)

» Through our own project developments and cooperation with local project developers, we are accelerating our growth at attractive conditions

» Many years of technical and business expertise ensures a disciplined investment process

Financial track record

Combination of strong growth and long-term predictable revenues


» Increase of more than 20 % in revenue and adj. EBITDA in 2021 to EUR 101 million and EUR 76 million respectively (2020: EUR 82 million and EUR 61 million)

» Long remaining term and secured revenues allow good planning and scalability of the business

» With an average remaining life of 27 years1,2, about 90 % of the revenues from the existing portfolio are already secured within the next 15 years through purchase agreements or feed-in tariffs

Clear future opportunities

Strong, resilient projet development portfolio secures future growth


» Built-up portfolio of potential new projects of 1,472 MW1 is about 115 % of the already existing portfolio

» Pipeline implementation with stable EBITDA margin will further strengthen group performance

Experienced management team

Well-established team around long-time industry expert Felix Goedhart with successful track record


» Over 100 years of combined industry experience of the management team and other core employees

» Proven track record of Felix Goedhart's team at Capital Stage (now Encavis): between 2006 and 2015, conversion of a small venture capital firm to one of the largest renewable energy IPPs in Europe with around EUR 700m market capitalization

» All key members of the management team have significant stakes in the company and are therefore incentivized for the long term

1 As of 31 December 2021, 2 Capacity weighted