Profil:
Enea SAEnea power's RES unit acquires shares in wind farms for max. PLN 914.8 mln
Listed power group Enea's renewables unit Enea Nowa Energia has signed agreements with EE Polska ApS and EE Pommerania ApS for the acquisition of shares in special purpose companies owning six operating wind farms with a total installed capacity of 83.5 MW and an option to purchase a 25 MW photovoltaic farm project, Enea said in a market filing. The value of the agreement will be a maximum of PLN 914.8 million (EUR 219.46 mln).
The subject of the agreement is the purchase of completed and operational wind farms located in the West Pomerania region.
As stated, there is a condition precedent in the agreement, consisting in the need to obtain the unconditional approval of the head of Poland's antitrust and consumer protection regulator UOKiK for the concentration. The purchase of the photovoltaic farm project is conditional on the outcome of the ongoing due diligence.
The agreement also provides for an earn-out mechanism, which will involve the payment of a potential bonus to the seller depending on the productivity of the wind assets. The bonus depends on a credible level of wind energy production.
Enea said that the investment increases the group's generation potential based on RES sources (in particular in the area of wind farms) and allows for an immediate and significant increase in the market share of renewable energy sources, without the need for a multi-year development process.
According to the company, the investment also provides opportunities for further expansion and optimisation - the acquired farms can form the basis for future modernisation, repowering or integration with other RES technologies, such as energy storage or PV installations.
doa/ ao/
