Electrica acquires three renewable energy projects from Muntmark

Electrica announces that, on 28 July 2021, signed, as buyer, with Emanuel Muntmark and with Catalin Mrejeru, as sellers, three shares sales and purchase agreements (“SPAs”) in three project companies having as main object of activity the production of energy from renewable sources, as follows:

1. A SPA regarding the acquisition of 100% of the shares held by the sellers in Crucea Power Park SRL for an estimated total price of EUR 8,470,000. The final price will be determined by adjusting the total estimated price depending on the production capacity, respectively the authorized storage, based on a contractually established calculation formula. Crucea Power Park SRL develops the eolian project “Crucea Est”, with a designed installed capacity of 121 MW and a projected electricity storage capacity of 60 MWh (15 MW x 4h), located outside the Crucea commune, Constanta County

2. A SPA regarding the acquisition of 100% of the shares held by the sellers in Sunwind Energy SRL for a total estimated price of EUR 1,485,000. The final price will be determined by adjusting the total estimated price according to the authorized production capacity, based on a contractually established calculation formula. Sunwind Energy SRL is developing the photovoltaic project “Satu Mare 2” with a designed installed capacity of 27 MW, located near Satu Mare.

3. A SPA regarding the acquisition of 100% of the shares held by the sellers in New Trend Energy SRL for a total estimated price of EUR 3,245,000. The final price will be determined by adjusting the total estimated price according to the authorized production capacity, based on a contractually established calculation formula. New Trend Energy SRL develops the photovoltaic project “Satu Mare 3”, with a designed capacity of 59 MW, located near Satu Mare.

The SPAs stipulate the acquisition by Electrica of shares in the three companies and the payment of the corresponding price in four stages, structured according to the development stage of the project and the fulfillment of certain conditions precedent.

Corina Popescu, General Manager of Electrica said: “The ambitious environmental objectives of the European Ecological Pact can be achieved through a sustained effort of the players in the industry. The acquisition of the 3 projects comes to reconfirm the commitment of the Electrica Group towards the development of the electricity production sector from renewable resources, representing, at the same time, an important step towards the implementation of the Group’s general growth strategy.”