REG - Soc EnergElectricaSA - Crucea Est wind project-winner in the CfD auction

Societatea Energetica Electrica SAAnnouncement

17/12/2024 13:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241217:nRSQ4439Qa&default-theme=true

RNS Number : 4439Q  Societatea Energetica Electrica SA  17 December 2024

To:                  Romanian Financial Supervisory Authority
(FSA)

                        Bucharest Stock Exchange (BSE)

                        London Stock Exchange (LSE)

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

Report date:  17 December 2024

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

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

Phone/fax no.: 004-021-2085999/ 004-021-2085998

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: The company Crucea Power Park SRL (CPP) has
been designated among the winners of the first round of the Auction for the
State Aid Scheme in the form of Contracts for Difference (CfD).

Electrica informs its shareholders and investors that, on 16 December 2024,
the company Crucea Power Park SRL (CPP), which is developing the Crucea Est
wind farm project and it is 60% owned by Electrica, was designated among the
winners in the first round of the Auction for the State Aid Scheme in the form
of Contracts for Difference (CfD), within the call launched on 18 November
2024. CPP has achieved this status for its onshore wind power generation
project, with an allocated installed capacity of 54.0 MW (the total designed
installed capacity being 138 MW), at a price of 77.3250 EUR/MWh.

The investment project developed within Electrica Group through Crucea Power
Park S.R.L.  refers to the development of Crucea East wind farm with a
designed installed capacity of up to 138 MW, medium voltage electrical
network, park -electrical transformer station, underground 110 KV line, land
fencing, and connection to the National Energy System (main transformer
station 110KV/400KV), connection to airline electrical network 400KVA,
reinforcement works & Installation of battery electricity storage capacity
with an installed capacity of 15 MW/60MWh - located in Constanta County,
Crucea and Pantelimon.

The commencement of the investment implementation with a total investment
value of up to 253,000,000 EUR, excluding VAT, is submitted to the approval of
Electrica's shareholders at the Extraordinary General Meeting 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 development of Crucea Est wind farm is a strategic project for Electrica.
This achievement highlights our company's commitment to developing renewable
energy projects, transitioning toward a sustainable energy future, and
contributing to the development of the renewable energy sector in Romania as
well as to the national energy transition goals", stated Alexandru Chirita,
Electrica's Chief Executive Officer.

The CfD is a financial support mechanism that helps stimulate investments in
renewable energy projects by reducing financial risks for investors and
providing long-term stability. This first round is a premiere for Romania and
a European first (the first CfD-type scheme financed with non-reimbursable
funds, through an allocation of up to EUR 3 billion from the Modernization
Fund).

 

CEO

Alexandru Aurelian Chirita

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAAAXFSXLFFA