Signed an agreement for the transfer of a PV plant for a transaction value of Euro 3.7 million

IsoEnergy Srl, operating company, owned 100% by TerniEnergia SpA, owner of a solar park of 988.38 kWp SpA acquired by Alchemy and Acam S.r.l.

TerniEnergia S.p.A., a company operating in the renewable energy sector and listed on the Star segment of Borsa Italiana, Alchimia S.p.A. e Acam S.r.l. (The “Purchaser”), signed an agreement for the transfer of 100% of the share capital of Isoenergy S.r.l., a wholly owned subsidiary of TerniEnergia and owner of a PV plant of 988.38 kWp nominal power, located, on the ground, in the City of Corciano (PG). The PV system, has all the requirements and all the permissions to get access to the incentive rate for the year 2010. The transaction’s value is Euro 3.7 million.
Alchimia S.p.A. and Acam S.r.l. have acquired a 90% and 10% stake in Isoenergy, respectively. The parties agreed the payments in cash, as follows: today (already settled) the first tranche amounted in Euro 2.0 million, on the date of receipt of the incentive fee the other tranche amounted in Euro 1.7 million.
The President and CEO of TerniEnergia, prof. Stefano Neri, said: 
“We are very pleased with the agreement reached, which represents a further stage in the  business relationship established with the Alchimia Group and Marina Salamon (Alchimia Group’s owner). The above is consistent with the diversification process of activities already announced by the company with the corporate strategy plan. We highlight, that this operation allows us to optimize the margins as systems integrator and increase the industrial know-how of TerniEnergia. ” TerniEnergia was assisted by Avv. Francesco Ricci as legal advisor and the law firm of Hogan Lovells Alchemy (Avv. Gianroberto de Giovanni, Dr. Maria Cristina Ruberti and Dr. Mattia Casarosa).