TerniEnergia, a company operating in the renewable energy sector, completed the purchase of two branches of business from Vittoria S.r.l., a company with headquarter in Lecce, after the connection to the grid of 2 new photovoltaic plants of industrial size whose total power is 2 MW. Last March TerniEnergia had already entered into a purchase agreement relating to the projects and the administrative authorizations of the two photovoltaic plants and had entered into a building lease agreement having a duration of 25 years concerning a land placed in the Municipality of Torchiarolo (BR), with an extension of approximately 8 hectares.

According to the above mentioned purchase agreement, the payment of the second branch of business had to take place after the connection to the grid by way of an exchange of shares whose number had to be determined on the basis of the average price registered at the end of the five stock exchange days before the shares transfer. The payment of the compensation took place today through the transfer to Vittoria S.r.l. of no. 132,548 TerniEnergia’s own shares, to which the value of Euro 3,395 per single share was assigned, for a total amount of Euro 450,000. The payment of the price for the purchase of the first branch of business took place at the signing of the agreement through an exchange of shares, for a total amount of Euro 450,000.

TerniEnergia’s Chairman and Managing Director, Avv. Stefano Neri, commented as follows: “Thanks to the completion of this transaction our industrial results increase significantly, we strengthen the power generation activity, as well as we confirm our leading position in the national market. The two photovoltaic plants that we built on behalf of the two equally owned joint venture companies Infocaciucci Srl and Saim Energy 2 Srl after the purchase of the two projects, the administrative authorizations and the building lease right on the lands, were completed very quickly by TerniEnergia also in consideration of the STMD authorizations that were already owned by it which permitted a quick connection to the grid.”.