Dear reader,

The year 2023 is slowly drawing to a close, but the positive developments in the renewable energy segment are continuing. On 16.08.2023, the Federal Cabinet approved the latest legislative amendments for photovoltaics. In Solar Package I, the German government is implementing the photovoltaic strategy adopted by the Federal Ministry of Economic Affairs and Climate Protection in May. The aim is to drive forward the expansion of renewable energies in such a way that the gross electricity demand is covered by 2030. In this Ranft Report, you can find out how we at the Ranft Group are benefiting from the legislative changes and how we are shaping a sustainable future together with you as an investor. The Ranft Group develops and realizes projects in the photovoltaic segments in Germany, Italy and Austria as well as hydropower in Italy. With this Ranft Report we would like to inform you not only about the status of our projects but also about current market developments.

Are you already investing with us? Then please continue to stay with us. If you are not yet one of our investors, we look forward to welcoming you in the future. Let's continue to work together to create meaningful and value-adding solutions in the coming years.

Michael Ranft, Andrea Ranft and Rainer Zepke

SOLAR PACKAGE I FROM 1.1.2024

Mehr Flächen für Solarparks – Vorrang für “Agri-PV”

The areas subsidized for the construction of solar parks are limited. This makes it difficult to increase the proportion of solar power. The traffic light coalition therefore wants to make targeted use of regionally disadvantaged areas to generate solar energy on open spaces. This amendment to the law will enable the generation of up to 80 gigawatts of solar power by 2030 - this corresponds to around 0.5 percent of all agricultural land in Germany. In order to optimize the use of land, the legislator has introduced special auction segments for solar installations such as agricultural, floating, moorland and parking lot installations. From 2024, the maximum bid for ground-mounted PV systems of this type will be increased to 9.5 ct/kWh (planned amendment to Section 37b (2) EEG).

Environmentally friendly measures, such as planting flower strips and reducing the use of pesticides and herbicides, not only have a positive impact on energy production, but also help to protect the natural environment. Farmers can also receive premiums in recognition of these efforts. The Ranft Group is currently in talks with cooperation partners for future Agri-PV projects.

PROJECT "INTEGRA" AND "LEUCHTTURM" - REVIVAL FOR GERMAN MODULE MANUFACTURERS?

After PV demand collapsed in 2012 and many German module manufacturers went bankrupt, only a few producers remained in Germany. As the PV industry has been booming again in recent years, Germany now has the opportunity not only to reposition itself in the PV industry, but also to become independent of Asian suppliers. The "INTEGRA" and "Leuchtturm" projects show a promising perspective here. In August, the module manufacturer Meyer Burger Technology AG announced that it had applied to set up a 5-gigawatt solar cell and solar module production facility in Germany with the "INTEGRA" project. Shortly afterwards, a consortium of

Heckert Solar GmbH, Wattkraft GmbH & Co. KG and Interfloat Corporation, who published details of their planned "lighthouse project". They announced their intention to invest more than two billion euros at three locations in Germany over the next 24 months. Specifically, the expansion of Heckert Solar GmbH's existing module capacities in Langenwetzendorf, Thuringia, is planned. With the expansion of the existing and an additional production hall, 2.8 gigawatts of solar modules are to be manufactured there annually. According to the companies, their aim is to generate at least 90 percent of the added value in Germany. We at the Ranft Group look forward to these developments and support the expansion of photovoltaic module production in Germany for reasons of sustainability, economic independence and social progress.

PV PROJECTS GERMANY

Oranienbaum

The repowering measures in Oranienbaum went according to plan and were completed in July. An expansion of the PV park by approx. 5 MWp has been commissioned and will be implemented in the coming months. We will keep you informed of progress in the upcoming Ranft Reports.

Riedenheim

The PV project in Riedenheim is a ground-mounted system with approx. 10 MWp. The building application for the PV system was approved by the municipality in July. Following approval by the Würzburg district authority, this PV system will also be built and commissioned in the coming months.

Wiershausen

The Wiershausen ground-mounted PV system cannot be realized by the Ranft Group due to the biological conditions. During the assessment of the construction site, the lower nature conservation authority determined that the common lark nests and resides there. We developed various alternative scenarios for a compatible implementation and presented these to the various committees. Unfortunately, it was not possible to bring the parties to a consensus and we therefore had to discontinue our activities.

Obergessertshausen

The amendment to the land use plan was already approved by the municipality in June 2023. The resolution on the bylaws for the development plan was subsequently passed and approved by the municipality in July 2023. The construction contract for the ground-mounted system with approx. 5 MWp has now been awarded. Construction of the plant is scheduled for completion at the end of 2023, with the plant feeding electricity into the public grid from the end of the first quarter of 2024.

PV PROJECT MEDOLE (ITALY)

In this year's first Ranft Report, we already reported on the planned 25 MWp ground-mounted PV project in Medole. The Ranft Group has now received the feed-in commitment from the Italian grid operator. The areas for the project are designated as priority areas for the construction of solar plants under the Italian Renewable Energy Sources Act and surround an industrial area, which is why they are known as the "Solarbelt". Our team is currently preparing the planning application documents.

You can find the Ranft Report as a PDF download in our download area: https://www.ranft-gruppe.com/downloads/