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TerniEnergia to Sell Its PV Assets in Italy

Date2014-7-4

June 30, 2014 - TerniEnergia SpA has signed agreements for the sale to Ranalli Immobiliare Srl of the 45% of the share capital of the JV SolTarenti Srl, owner of four utility scale PV plants for an installed capacity of 3.3MW, and the sale of 50% of the share capital of DT Srl, owner of a utility scale PV plant for an installed capacity of about 1MW.

The total price of the sale has been agreed between the parties to Euro 2.3 million, of which 1.5 million relating to the value of the shares of the JV SolTarenti and 0.8 relating to the value of the shares of the DT company.

The payment by Ranalli Immobiliare Srl will be made in cash by December 31, 2014. The transaction will be subject to a resolutive condition of the lack of consent expressed by the leasing company with which signed agreement relating to photovoltaic plants, no later than September 30, 2014.
 

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