DAVY VIEW

Corre Energy has announced that the construction of its underground caverns in Germany is now 75% complete, confirming further development progress across Ahaus 1 and subsequent Ahaus projects. It follows its recent announcement of a strategic Ahaus 1 partnership with Eneco, covering offtake, co-development and co-investment. Continued development progress is a critical pillar of the current investment case, with these German projects alone having a combined target project valuation of c.€500m once operational. Further, the progress and its emerging relationship with Solvay also highlight the group’s strengthening position in the fast-emerging Germany market.