Italeaf S.p.A.

06/07/2019 | Press release | Distributed by Public on 06/07/2019 01:04

TerniEnergia signed a preliminary contract with NextPower II Alpha for the sale of 50% of the shares of a JV owner of two photovoltaic plants for 1.9 MW

  • Consideration for the transaction of approximately Euro 1.3 million
  • The JV NextPower II Prima Srl is the owner of two PV plants in Puglia of power respectively equal to about 0.9 and 1 MW; the transaction involves the assumption by the purchasers of financial debts related to the plants for around Euro 4 million
  • The closing is expected by 8 August 2019

TerniEnergia, a smart company listed on the Italian Stock Exchange's electronic share market (MTA) and part of the Italeaf Group, announces that today a preliminary contract has been signed for the sale to NextPower II Alpha S.r.l., an investment vehicle managed by the London merchant bank NextEnergy Capital, of 50% of the shares of the company NextPower II Prima Srl. The joint venture between TerniEnergia and Errenergia, which simultaneously signed the preliminary contract for the sale of its shares to the Purchasers, owns two photovoltaic plants in Puglia for a total installed capacity of about 1.9 MW.

The consideration for the sale of the company's shares amounts to approximately Euro 1.3 million, while the transaction also provides for the assumption by the Purchasers of financial debts linked to the plants for approximately Euro 4 million.

The closing, scheduled for August 8, 2019, is subject to conditions precedent typical for this type of transaction, including the release of waivers by the leasing companies that financed the JV.

For TerniEnergia, this transaction represents a further step forward in the implementation of the Recovery and Relaunch Plan aimed at completing the repositioning into a smart company and overcoming the current financial tension of the Group, on the basis of the strategic guidelines identified by the Board of Directors.

TERNIENERGIA (TER. MI), established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world. Organized into two strategic business lines (Assets and Smart solutions and services), with about 300 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources.

TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions.

TerniEnergia is the ideal partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realize large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations.

TerniEnergia has completed its transformation from a leader in the international photovoltaic market into a smart energy company and technological enabler for the sustainable use of resources through a complete commercial offer of solutions, the development and supply of digital technologies and the creation of 'intelligent' services and solutions aimed at public and private customers in emerging sectors.

TerniEnergia is listed on the MTA of Borsa Italiana.