Further to the approval of the “Fourth Energy Account” the remuneration was reduced to 144.000 Euro/MWp
TerniEnergia S.p.A., a company operating in the renewable energy sector and listed on the Star segment of Borsa Italiana, announces that it signed an agreement that partially amends the terms of the purchase of 100% of Meet Green Italia S.r.l., with registered office in Nardò (LE), as it was announced to the market on December 28th, 2010. Such an agreement amends the price and the payment formalities, as a consequence of the supervened legislative provisions (“Fourth Energy Account”) that significantly affected the criteria for incentivizing the electric energy production from sun photovoltaic plants. Such a purchase is aimed at developing and building new industrial sized photovoltaic plants in Abruzzo region, for a total installed power amounting to approximately 11 MWp, that are at different stages of authorizations process.
The price agreed for the purchase was amended from Euro 240,000 per single MWp to Euro 144.000 per single MWp for a total amount of Euro 1.58 million; the amount of Euro 250.000, already paid, must be deducted to such a total amount. The remaining amount shall be paid into two instalments: Euro 650,000 within July 1st 2011; the balance of Euro 681,148, for each single plant proportionally to the relevant power, is subject to the condition precedent of obtaining the availability of the surface in the farmland ground, that is necessary for obtaining the incentive to be assigned by GSE. The advance payments shall be offset up to 6,25 MWp, on the basis of the price of Euro 144,000 persingle MWp..The above mentioned investment is wholly financed through cash.