PRESS RELEASE 04 JANUARY 2016
ITALEAF: TerniEnergia continues to increasing the value of its photovoltaic assets
- Sold the 50% of four SPV to Renewable European Investment Italy 3
- The companies Investimenti Infrastrutture Srl, Società Agricola Fotosolara Oristano Srl, Società Agricola Fotosolara Bonannaro Srl e Infocacaciucci Srl owns utility scale PV plants for approximately 3.3 MWp
- The transaction price for the 50% of the companies amounts to Euro 1.7 million; payment shall be made by cash by the European Investment Renewable Italy 3 - REI III Srl
Italeaf announces that TerniEnergia, smart energy company active in the fields of renewable energy, energy efficiency, waste and energy management, listed on the Star segment of the Italian Stock Exchange and part of Italeaf Group, as part of its strategy to increase the value of its photovoltaic assets, has signed an agreement to sale the 50% of the share capital of the SPVs (Special Purpose Vehicle) Investimenti Infrastrutture Srl, Società Agricola Fotosolara Oristano Srl, Società Agricola Fotosolara Bonannaro Srl e Infocacaciucci Srl to European Investment Italy 3 - REI III Srl, a company owned by Radiant Clean Energy investment Fund. These SPVs owns a total of four photovoltaic plants of utility scale for a total installed capacity of approximately 3.3 MWp. The total price of the traansaction has been agreed between the parties in approximately Euro 1.7 million. The payment by the European Investment Renewable Italy 3 - REI III Srl will be made by cash by 31 January 2016. The agreements relating to the sale of the shares of the four SPV are subjected to condition subsequents, including: - the negative outcome of the due diligences; - failure to consent to the transaction expressed by the leasing company with which the companies have signed contracts relating to the PV plants, no later than 30 March 2017; - failure to provide adequate guarantees from the seller on the return of the price, in the case of lack of consent by the leasing company. As of today, the total number of PV plaants built by TerniEnergia from beginning of the activity is equal to 273, with an aggregate capacity of approximately 284.1 MWp (including 13.2 MWp wholly owned by the Company and 30 MWp in joint ventures, for the activity of power generation).
TerniEnergia, a company incorporated in September of 2005 and part of Italeaf Group, is the first Italian smart energy company and operates in renewable energy, energy efficiency, energy and waste management. TerniEnergia operates as system integrator, with a turn-key offer of industrial sized photovoltaic plants, on behalf of third parties and on its own, for the Power Generation business, also through joint venture companies with leading national players. TerniEnergia operates in the waste management sector, recovery of the material and energy, development and production of technologies. In particular, the Company is active in the recovery of tires out of use, in the treatment of biodegradable waste through the implementation of biodigesters, management of plant for the biological depuration; development and production of technological apparatus. Through TerniEnergia Gas & Power, the Group is active in the energy management, energy sales to energy intensive customers, software and services for energy management, administrative, financial and credit management. The Group is also active on the natural gas and liquefied natural gas (LNG) market, offering a range of services and activities in order to develop Client's business and achieve a competitive advantage providing the best market conditions and creating a high added value. TerniEnergia operates in the development of energy efficient plants both through EPC scheme and FTT scheme (Financing Through Third Parties), pursuing the objectives of increasing energy production from renewable sources, of energy saving and reduction of emissions as set forth by environmental European policy. TerniEnergia is listed on STAR segment of Borsa Italiana S.p.A..
This press release is also available on the Companies' website: www.italeaf.com and www.ternienergia.com .
Certified Adviser
Mangold Fondkommission AB is the Certified Adviser of Italeaf on NASDAQ OMX First North.
For further information please contact: Filippo Calisti CFO - Italeaf S.p.A. E-mail: calisti@italeaf.com
Mangold Fondkommission AB Tel. +46 (0)8 5030 1550 info@mangold.se
Italeaf SpA , established in December 2010, is a holding company and a business accelerator for companies and startups in the areas of innovation and cleantech. Italeaf operates as a company builder, promoting the creation and development of industrial startups in the fields of cleantech, smart energy and technological innovation. Italeaf has headquarters and plants in Italy at Nera Montoro (Narni), Terni, Milano and Lecce; has international offices in London and Hong Kong and a research and development centre in the Hong Kong Science and Technology Park. The company controls TerniEnergia, a smart energy company listed on the STAR segment of the Italian Stock Exchange and active in the fields of renewable energy, energy efficiency and waste and energy management, Greenled Industry, working in the development and production of power LED lamps for industrial energy efficiency and public lighting, WiSave in the "internet of things" field, for the development and production of thermostats and smart technologies for the remote control of electrical and heating items of buildings managed through a cloud infrastructure, and Skyrobotic, in the business development and manufacture of civil and commercial drones in mini and micro classes for the professional market.
HUG#1976321
