Agreement with a leading European utility for the construction of two photovoltaic plants in the RSA for a total installed capacity of 148.5 MWp

  • The subsidiary TerniEnergia Project PTY Ltd has signed two framework agreements for the EPC activities with supply of panels and inverters for approximately Euro 147 million
  • Update of Corporate Events Calendar, 2013: on November 12 the board of directors will be held for approval of the interim report to 30 September 2013

 

Terni, October 30, 2013

 

TerniEnergia, active in the fields of renewable energy, energy efficiency and waste management, listed on the Star segment of the Italian Stock Exchange, as part of the process of internationalization of photovoltaic EPC business, has signed two framework agreements with a primary European utility for the construction of industrial size PV plants for the total power capacity of 148.5 MWp in South Africa.

In particular, the agreements – become effective following the award of preferred bidder status of the customer – provide for the installation by TerniEnergia Project PTY Ltd, the South African subsidiary of TerniEnergia, of two photovoltaic plants with “EPC Contract” (turnkey) with the supply of panels and inverters, respectively, in  Paleisheuwel for 82.5 MW and in Tom Burke for 66 MW, for a total consideration of approximately ZAR 2 billion corresponding to the current exchange rate to approximately Euro 147 million.

The schedule expected to open the work sites by the end of August 2014 and completion by August 2015.

Stefano Neri, Chairman and CEO of TerniEnergia, commented:

“This important international recognition of our Company, obtained in a highly competitive auction, with the participation of the most important global PV industry , gives credit to the validity of the close collaboration between national companies. The driver role done in this selective tendering procedure by an Italian worldwide leader company in the renewable energy sector, has allowed us to achieve a great economic and industrial result in Republic of South Africa, one of the most promising countries for the green economy development. Our goal is that this “national system” , which covers the entire value chain from the production of panels and inverters through to the plants construction and grid connection, can continue to be adopted and become a success factor in other projects and in other countries“.

TerniEnergia shall also state that, in addition to the Financial Calendar 2013 released last February 1, the Board of Directors to approve the Interim Report to 30 September 2013 will be held on Tuesday, November 12, 2013.