Enery Power Holding GmbH agreed to acquire Renewable energy operating assets in Romania and Netherlands from Jade Power Trust (TSXV:JPWR.UN) for €71 million on September 1, 2022. Under the terms, a termination fee of €3.5 million is payable by the trust, if the trust fails to receive unitholder approval, while a separate termination fee of €1 million is payable, if the trust fails to obtain conditional approval of the TSXV, before November 30, 2022, which date may be extended to January 15, 2023. A termination fee of €1 million is payable by Enery if fails to receive certain clearances from the applicable Romanian competition authorities. The closing of the sale transaction is subject to a number of customary conditions, including the approval of the Unitholders, the approval of the TSXV and the approval of the Romanian Competition Authority and Foreign Direct Investment Authority. As of February 16, 2023,Enery Power Holding has signed a senior term loan and revolving credit facilities agreement for the acquisition The facility was arranged by Erste Group Bank AG and its Romanian subsidiary Banca Comercial Romn SA (BCR), both acting as mandated lead arrangers and hedge providers. As of June 6, 2023, initial amount of €1 million out of total  €4 held in escrow account has been release, remaining  €3 million is scheduled to be released from escrow on or about November 22, 2023. A special committee of independent directors of the Administrator is formed to consider the transaction on behalf of the trust. The deal has been unanimously approved by the board and special committee. The transaction has received approval from target shareholders. The deal is expected to close by January 15, 2023. Haywood Securities Inc. acted as financial advisor to Special Committee and fairness opinion provider to the board administrator of the trust. Aird & Berlis LLP and Wolf Theiss Si Associatti SCA acted as legal advisor to the Trust and the Administrator. Robert Bachner, Monica Cojocaru, Vlad Cordea, Simona Lehniuc, Adina Damaschin, Silviu Lazar, Loredana Barbu, Claudiu Stan, Georgiana Badescu, Mona Banu and Cristiana Manea of Schönherr Rechtsanwälte Gmbh acted as legal advisor and UniCredit S.p.A. (BIT:UCG) acted as financial advisor to Enery. DLA Piper (Canada) LLP acted as legal advisor to the Special Committee.

Enery Power Holding GmbH completed the acquisition of Renewable energy operating assets in Romania and Netherlands from Jade Power Trust (TSXV:JPWR.UN) on November 22, 2022.