Genoa, 15 May 2014 - ERG Renew has signed an agreement with Vortex Energy group to purchase a 100% equity interest in EW Orneta 2, a Polish company duly authorised to implement a wind farm project in Poland, in the municipality of Radziejów, with a planned capacity of 42 MW and an electricity output, when fully operational, estimated at more than 100 GWh per year, corresponding to 2,400 equivalent hours and approximately 85 kt in avoided CO2 emissions.
ERG Renew expects to commence construction of the wind farm in the third quarter of 2014 with a view to coming on stream by mid-2015.
The total investment cost for implementation of the wind farm project is estimated at approximately 65 million Euro, which already includes the sum to be paid for the company's enterprise value, amounting to around 7.2 million Euro. The closing is scheduled to take place by the end of July 2014.
Completion of this transaction will enable ERG Renew to take a first step in a country considered strategic for its development potential in the wind sector, while continuing to pursue its overseas growth path.
Contacts:
Alessandra Mariotti Media Relations Manager tel.+ 39 0102401364 mob.+ 39 3358053395
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