Update Regarding Acquisition of Two Solar Parks

Source: www.gulfoilandgas.com 1/28/2021, Location: Europe

Further to the stock exchange announcement dated 29 December 2020 regarding the date for the final signing of the transaction agreement with 3T S.r.l. to buy two 1 MWp solar parks in Sardinia, Italy. New date for signing is expected on or around 28 February 2021.

Both the seller and Aega remain eager to complete the deal, but another administrative delay from the seller’s bank has postponed the signing further. The bank has informed Aega that it (the bank) has been involved in an acquisition process which meant that it put credit committee processes on hold until the acquisition was finalised. As the acquisition is now complete, the bank’s credit committee activities will be resumed.

Please note that according to the share purchase agreement, Aega will formally own the two solar parks in question from 1 January 2020. Hence, the delay will not have any impact on Aega’s revenues from the solar parks, provided that the final transaction agreement is signed as planned.

Both of the 1 MWp solar parks in Sardinia are elevated ground mounted power plants. Feed-in tariff end is 14 years 13 years, respectively, out of their 20-year concession periods. Both plants are expected to deliver an internal rate of return (IRR) in line with Aega's current assets and the group's overall investment target.


Angola >>  5/20/2022 - Solenova, a joint venture equally owned by Eni and Sonangol for the development of renewable energy projects, has lain the first stone of what will be...
Poland >>  5/18/2022 - Green Genius and Sequoia Investment Management Company Limited (Sequoia), acting as an investment advisor on behalf of Sequoia Economic Infrastructure...

United States >>  5/18/2022 - - The company is starting construction work on a 300 MWdc facility, which will occupy an area of more than 800 hectares in the state of Texas and will...
Japan >>  5/17/2022 - Canadian Solar Inc. announced that its wholly-owned subsidiary Canadian Solar Projects K.K. together with its owned special purpose vehicles (SPVs), t...

United States >>  5/17/2022 - First Solar, Inc. has signed an agreement with Scout Clean Energy to supply 378 megawatts (MW)DC of advanced, responsibly-produced thin film photovolt...
India >>  5/16/2022 - Tata Power Solar, one of India’s largest integrated solar companies and a wholly owned subsidiary of Tata Power, bagged an order of 300MW Solar projec...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.