REG - Soc EnergElectricaSA - Completion of the acquisition of CPP SRL

Societatea Energetica Electrica SAAnnouncement

07/02/2025 16:15

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RNS Number : 3961W  Societatea Energetica Electrica SA  07 February 2025

To:                              Bucharest Stock
Exchange (BSE)

                                    London
Stock Exchange (LSE)

Romanian Financial Supervisory Authority (FSA)

 

Current report in compliance with the Law 24/2017 on issuers of financial
instruments and market operations, the Romanian Capital Market Law no.
297/2004, FSA Regulation no. 5/2018, and the Bucharest Stock Exchange Code

Report date: 7 February 2025

Company name: Societatea Energetica Electrica S.A. (Electrica)

Headquarters: 9 Grigore Alexandrescu Street, 1(st) District, Bucharest,
Romania

Phone no.: 004-021-2085999

Fiscal Code: RO 13267221

Trade Register registration number: J40/7425/2000

Subscribed and paid in share capital: RON 3,395,530,040

Regulated market where the issued securities are traded: Bucharest Stock
Exchange (BSE) and London Stock Exchange (LSE)

 

Significant events to be reported: Completion of the acquisition of the
project company Crucea Power Park SRL

Electrica informs the shareholders and investors that, on 7 February 2025, has
completed the acquisition of the project company Crucea Power Park SRL (CPP)
having as main object of activity the generation of energy from wind sources.
CPP develops the eolian project company "Crucea Est", with an authorized
installed capacity of 138 MW*, and a projected electricity storage capacity*
of 60 MWh (15 MW x 4h), located outside the Crucea commune, Constanta County.
The project is at the "ready-to-build" phase.

*138 MW represents the designed installed capacity mentioned in the Grid
Connection Permit. Depending on the type of turbines (and the installed unit
power per turbine) that will be selected, this capacity may vary, but it will
not exceed the installed power approved in the Grid Connection Permit.

** The storage installation: The selected storage batteries have an installed
capacity of 15 MW with a charge/discharge duration of 4 hours (60 MWh) for
profiling and balancing.

"On 17 September 2024,  we announced that CPP was among the winners of the
first round of the Auction for the State Aid Scheme in the form of Contracts
for Difference (CfD),
(https://bvb.ro/FinancialInstruments/SelectedData/NewsItem/EL-CPP-proiectul-eolian-Crucea-Est-castigator-in-licitatia-CfD/CAB54)
with an allocated installed capacity of 54.0 MW, at a price of EUR
77.3250/MWh. Therefore, the transaction aligns perfectly with Electrica
Group's strategic objective of developing its electricity production segment
and it highlights our dedication to contributing to the development of
Romania's energy sector and supporting national energy transition goals",
stated Mr. Alexandru Chirita, Electrica's CEO.

Electrica informed the capital market on 28 July 2021, about the signing of
the sale-purchase agreement for 100% of the shares of Crucea Power Park SRL
(https://www.bvb.ro/FinancialInstruments/SelectedData/NewsItem/EL-Semnare-contracte-vanzare-cumparare-actiuni/80AB5)
through current reports published on BSE (IRIS Code:80AB5) and LSE.

During the Extraordinary General Meeting of Shareholders (EGMS) on 5 February
2025,
(https://www.electrica.ro/en/investors/general-meetings-of-shareholders/2025-gms/general-meeting-of-shareholders-on-5-february-2025/)
the shareholders approved the investment project to be carried out by CPP,
with a total investment value of up to EUR 253,000,000, excluding VAT, as well
as the granting of a loan by Electrica S.A. to CPP to finance the investment
works necessary for the completion and operation of the "Crucea Est" wind
power plant.

As stated in the documents made available to shareholders in the
above-mentioned EGMS
(https://www.electrica.ro/wp-content/uploads/2024/11/ELSA_RO_EN_AGEA_EGMS_1-4_Note_Investment_and_Loan_Crucea.pdf)
, the initiation of the investment will only take place after Electrica fully
acquires 100% of the shares of CPP, and the funds necessary for the loan
agreement will be secured by Electrica from the syndicated credit facility and
bond issuance, approved through  EGMS Resolution No. 2 from 8 November 2024,
or from other sources.

For more information, please contact Electrica at ir@electrica.ro
(mailto:ir@electrica.ro) .

 

 

Chief Executive
Officer

Alexandru - Aurelian
Chirita

 

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