REG - Soc EnergElectricaSA - Acquisition Stanesti Photovoltaic Farm, Giurgiu

Societatea Energetica Electrica SAAnnouncement

23/06/2020 17:00

RNS Number : 8458Q
  
Societatea Energetica Electrica SA
  
23 June 2020
  
 

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: 23 June 2020
Company name: Societatea Energetica Electrica S.A. (Electrica)
Headquarters: 9 Grigore Alexandrescu Street, 1st 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 3,464,435,970
Regulated market where the issued securities are traded: Bucharest Stock Exchange (BSE) and London Stock Exchange (LSE)
 
Significant events to be reported: 
Announcement of signing of share purchase agreement in relation to Stanesti Photovoltaic Farm, Giurgiu County
 
Electrica informs the shareholders and investors that Electrica Furnizare S.A., part of the Electrica Group, has signed a share purchase agreement with Raylexo Limited and Long Bridge Management si Administrare S.R.L. for the acquisition of all shares in Long Bridge Milenium S.R.L., company which owns Stanesti Photovoltaic Farm in Giurgiu County, with an installed capacity of 7.5 MW (operational power limited at 6.8 MW). The photovoltaic farm was built between October 2012 and January 2013 and has been delivering electricity into the national grid since February 2013.
 
Closing of the transaction and the transfer of shares' ownership to Electrica Furnizare S.A. are subject to fulfilment of the conditions precedent agreed by the parties as well as to the relevant formalities. The purchase price will be determined at the closing of the transaction, pursuant to the terms of the share purchase agreement.
 
This transaction is the first step towards the envisaged target of vertical development of Electrica Group by entering the market for electricity generation, in particular from renewable sources, by acquiring wind and/or photovoltaic farms.
 
Chief Executive Officer                                                          
Georgeta Corina POPESCU                                                  
 
 


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