REG - Soc EnergElectricaSA - Joint Venture Incorporation - Electrica - Esyasoft

Societatea Energetica Electrica SAAnnouncement

22/11/2024 12:00

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RNS Number : 3635N  Societatea Energetica Electrica SA  22 November 2024

 
                    22 November 2024

Electrica and Esyasoft incorporates a company acting

in the field of electricity storage and smart grid technologies

Electrica is thrilled to announce that today, 22 November 2024, in the
presence of the Romanian Ministry of Energy, Mr. Sebastian Burduja, at his
headquarters, the official signing of the incorporation documents for our new
company Electrica Esyasoft Smart Solutions S.A. took place, marking a
significant milestone in our journey towards innovation and excellence.

Electrica Esyasoft Smart Solutions S.A. (owned 25% by Societatea Energetica
Electrica SA and 75% by Esyasoft Enterprise Holding RSC LTD) will focus on
smart grid technologies (including battery storage and digitalization
solutions). With a team of seasoned professionals and a robust strategic plan,
it aims to make a substantial impact in the Romanian energy sector.

"The exceptional results that Romania has recently achieved in the energy
sector, the increasing performance of Romanian companies in the field, with
those having state capital occupying a leading position, have paved the way
for very important partnerships for what will happen in the future.

Partnerships between Romanian companies and major players in the global market
will bring, in addition to concrete results for our country, an increase in
Romania's reputation, as well as the confidence of international markets in
what we are doing here at home," said Sebastian Burduja, Ministry of Energy.

"The new company is set to revolutionize the energy equipment sector through
cutting-edge solutions and a firm commitment to excellence. This entity
incorporation reflects our determination to stimulate evolution, promote
innovation and delivering added value for our shareholders. We are looking
with enthusiasm at this new stage and are confident that we will set new
benchmarks in the industry. Our goal is to drive innovation and deliver
exceptional value to our customers and partners." said Alexandru Chirita, the
CEO of Electrica.

"This partnership with Electrica marks an important step toward the journey
towards implementing state of the art smart grid technologies in the European
region. We are excited to bring our expertise to this long-term collaboration
and contribute to Romania's energy transition goals", said Bipin Chandra, the
Group CEO of Esyasoft Holding Ltd.

Esyasoft Group, Abu Dhabi, is specialised in providing end to end Network Grid
Modernization and Automation, through Smart-grid Technologies, Advanced
Metering Infrastructure (AMI), EV Charging Infrastructure, Energy Storage and
Consumer Engagement, communication network, IT, IoT, and advanced analytics
and AI solutions for power, gas, and water utilities. Esyasoft has been
providing critical Network Grid Modernization and Automation Solutions
Globally, having offices in over 10 countries, including UAE, India,
Azerbaijan, Netherlands, United Kingdom, and Americas, serving over 35+ global
utility companies.

Electrica Group is a key player in the electricity supply, distribution and
production market in Romania, as well as one of the most important players in
the energy services sector. Electrica Group provides services to almost 4
million users and has national coverage - with a coverage of 18 counties from
three geographical areas for the distribution of electricity: Northern
Transylvania, Southern Transylvania, Northern Muntenia, and across the country
for the supply of electricity and for energy maintenance and services. This
year, Electrica celebrated 10 years from its dual listing on the Bucharest and
London Stock Exchanges, when it has become a company with private majority
capital.

Electrica announced on the 16th of May 2024 the signing of the Memorandum of
Understanding with Esyasoft - BSE:Iris Code 6D6FE
(https://www.bvb.ro/FinancialInstruments/SelectedData/NewsItem/EL-Electrica-signs-a-Memorandum-of-Understanding-with-Esyasoft-Holding-Ltd-/6D6FE)
and LSE:RNS Code 7937O
(https://www.londonstockexchange.com/news-article/ELSA/electrica-signs-a-mou-with-esyasoft-holding-ltd/16474669)
.

Contact details: Electrica Investor Relations - ir@electrica.ro ;
+40731796111

CEO Electrica - Alexandru Chirita

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