reconcept GmbH reports positive annual results and looks ahead to 2024 with confidence

reconcept GmbH, provider and asset manager of sustainable investments and project developer in the field of renewable energies, can look back on a pleasing financial year 2023. Even in a challenging market environment, good results were achieved in both divisions.

Project development division

Pipeline growing rapidly
In 2023, reconcept significantly expanded its project portfolio in its core markets of Germany, Finland and Canada. The business strategy is to develop renewable energy projects until they are ready to build and to sell them to investors at this stage. The project development team's pipeline for the German market currently includes around 50 solar projects with a peak output of around 870 megawatts, an increase of over 25 percent on the previous year. In Finland, the focus is on wind energy - with a project volume of ten wind farms with a total of around 3,000 megawatts. And the portfolio continues to grow. Most recently, for example, a lease agreement was concluded in November for a wind farm in the north-east of the country with a planned total of 800 megawatts.

Successful sale of project rights for six wind farms in Finland
A wind farm transaction was successfully completed in Finland in 2023. The agreement comprises six wind power projects with a total of 1,200 megawatts, consisting of an expected 150 turbines.

Greenfield projects launched in Canada
With a view to the Canadian market, reconcept works in three segments: the realization of greenfield projects in the field of wind and solar energy, advising First Nations communities on the transition from fossil fuels to a green, self-sufficient energy supply and hydropower in British Columbia and Nova Scotia. In 2023, the focus was on acquiring land in the provinces of Alberta and Ontario as well as establishing our own branch in Toronto and expanding the local team.

Investment and Asset Management division
reconcept can also draw a positive conclusion for the issuing business: 2023 was very successful with the full placement of two exchange-listed bonds that can be deposited and on schedule for current bond investors with punctual interest and repayments. The "Solar Bond Deutschland" (ISIN: DE000A30VVF3) and "Solar Bond Deutschland II" (ISIN: DE000A351MJ3) each raised an issue volume of EUR 12.5 million and EUR 14.0 million respectively on the capital market. Around 2,000 investors secured the attractive interest rate of 6.75% p.a. over 6 years. Interest and repayments to investors totaling EUR 8.1 million were made on time for all current investments and green bonds.

"We will close the 2023 financial year with a positive result in the seven-digit range and are very satisfied with the development of our company. I am particularly pleased that we have been able to strengthen our project teams in all three core markets with committed new employees. Our teams in Berlin, Toronto and Helsinki have now grown to more than 15 project developers," explained Karsten Reetz, Managing Partner of reconcept GmbH. "The outlook for 2024 also makes us optimistic. Renewable energies remain a growth market and the trend towards a green economy is unstoppable. Even cautious estimates assume that the installation figures for green power plants will continue to rise sharply in the coming years - not only because of the climate targets of many countries, but also because wind and solar power is now simply cheaper than electricity from new fossil fuel power plants."

About reconcept
reconcept GmbH has been connecting renewable energy projects with investors since 1998. The combination of issuing house and project development gives the company access to attractive projects. Together with more than 16,000 investors, reconcept has already been able to realize around 245 renewable energy plants in Germany and abroad with a total installed capacity of around 385 megawatts and a total investment volume of around 610 million euros (as of 31.12.2022). In order to make its concrete contribution to greater sustainability measurable, reconcept has its CO2 footprint as a company analyzed annually and offsets this with CO2 certificates in accordance with the "Verified Carbon Standard". As a result, reconcept is certified by the experts at CO2-positiv! as a climate-neutral asset manager.

Press contact
reconcept Group - Corporate Communications
Christiane Kaufholt-Mecke, christiane.kaufholt@reconcept.de