Signing of a preliminary agreement for the acquisition of a special purpose vehicle implementing a project for the construction of hybrid renewable energy sources with a total capacity of up to ca. 334 MW.
Belongs to:
- Current reports
Current Report No. 29/2023
Prepared on: 13 October 2023
Subject: Signing of a preliminary agreement for the acquisition of a special purpose vehicle implementing a project for the construction of hybrid renewable energy sources with a total capacity of up to ca. 334 MW.
Legal basis: Article 17(1) of the MAR - inside information.
The Management Board of Energa SA ("Issuer") hereby announces that it has become aware of the signing of a preliminary agreement on 13 October 2023 between Energa Wytwarzanie SA ("Company") and Lewandpol Holding sp. z o.o. for the purchase of 100% of shares in E_amp;G sp. z o.o. ("Transaction"), which implements Kleczew Solar _amp; Wind project for the construction of photovoltaic installations and wind farm with a total capacity of from ca. 244.5 MW to ca. 334 MW in the Wielkopolska province ("Project"). If the Transaction is concluded, the total installed capacity of Energa Group's renewable energy sources ("RES") may increase to 950 MW, or by ca. 54% as compared to the end of June 2023.
The Project is divided into three stages, the first of which includes the construction of a photovoltaic installation with a capacity of 193,1 MW and a wind farm with a capacity of up to 19.2 MW. In the next two stages, the installed capacity of the photovoltaic farm is expected to increase by maximum ca. 122 MW. According to the Project's current schedule, construction of the aforementioned RES is expected to be completed in 2025.
The Transaction is subject to the fulfillment of a number of conditions precedent (including obtaining unconditional approval from the President of the Office of Competition and Consumer Protection and a license to generate electricity), and is expected to close no later than in the first quarter of 2025.
The Project was not included in Long-Term Strategic Investments Plan of the Energa Group for 2021-2030, which the Issuer announced in current report No. 31/2021 dated 31 August 2021. As envisaged, if the Transaction goes through, ORLEN S.A. will provide financial support to the Energa Group to finance the investment.