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.
