Electrica Group announces that Electrica Furnizare has signed a share purchase agreement with Raylexo and Long Bridge Management si Administrare for the acquisition of all shares in Long Bridge Milenium, company which owns Stanesti Photovoltaic Farm in Giurgiu County, with an installed capacity of 7.5 MW (operational power limited at 6.8 MW).
The photovoltaic farm was built between October 2012 and January 2013 and has been delivering electricity into the national grid since February 2013.
Closing of the transaction and the transfer of shares’ ownership to Electrica Furnizare are subject to fulfilment of the conditions precedent agreed by the parties as well as to the relevant formalities.
The purchase price will be determined at the closing of the transaction, pursuant to the terms of the share purchase agreement. This transaction is the first step towards the envisaged target of vertical development of Electrica Group by entering the market for electricity generation, in particular from renewable sources, by acquiring wind and/or photovoltaic farms.