RENEWABLE ENERGY INVESTMENTS: AGREEMENT FOR 5 MW OF NEW PLANTS IN ITALY BETWEEN TERNIENERGIA AND FORESIGHT GROUP (EUROPEAN SOLAR FUND)

In the evening of 15 September 2008 an outline agreement was signed between TerniEnergia Spa, listed company on Espandi market, governed and managed by the Borsa Italiana Spa, and the fund management company Foresight, for the turnkey supply of photovoltaic plants to be made in Italy for a global capacity of 5 MW by 31 December 2009.

Engineer Paolo Ricci, managing director of TerniEnergia, remarked: “The outline agreement with Foresight fits well into the developing plan of TerniEnergia. Our company insists on the great potential of the photovoltaic sector in Italy, determined by the conditions foreseen in the new “Conto Energia”, as well as by climatic factors, that make our Country extremely interesting for investors of the most qualified sectors, such as Foresight. It’s the first step towards the development of a solid industrial relationship between Foresight and TerniEnergia”.

The agreement is part of a large-scale project by Foresight that anticipates investments over the coming three years for the creation of photovoltaic plants in Italy and the Mediterranean basin for 150/200 MW. These investments should further involve TerniEnergia under the same conditions. Foresight is a fund management company focused upon renewable energy, infrastructures and new technologies. The company, founded in 1984, currently manages Funds for over 200 million Euros, and has recently opened a fund exclusively dedicated to investments in photovoltaic plants in Italy and other countries in the Mediterranean basin. The company has its head office in Sevenoaks (London), United Kingdom, and has recently opened a branch office in Rome to follow up Italian investments.