PGE signed agreement on purchase of wind farms from DONG Energy
12/2013
19.02.2013 12:11
Art. 56 section 1 p. 1 of Act on Public Offering – confidential information
Contents of the report
PGE Polska Grupa Energetyczna S.A. ("PGE") and Energa Hydro Sp. z o.o. (subsidiary of Energa S.A.) have signed an agreement with Danish DONG Energy Wind Power A/S (“DONG”) on acquisition of DONG’s wind farms portfolio in Poland.
On the ground of the agreement PGE will acquire operating wind farms with installed capacity of 60.5 MW, with contracted off-take of electricity and certificates and pipeline of projects with planned capacity of approximately 555 MW, including 130 MW at an advanced stage of development. Energa Hydro Sp. z o.o. will acquire a wind farm with installed capacity of 51 MW and pipeline of wind projects with planned capacity of approximately 220 MW.
The aggregate value of the transaction amounts to approximately PLN 1 billion.
The acquisition of wind farms remains in line with the strategic development of PGE Capital Group in on-shore wind energy and strengthening of key competences in project management in this field. Transaction also includes takeover of DONG employees in Poland, who will significantly improve PGE Group’s potential in development of renewables segment.
It is assumed that the transaction will be finalised within the next few months of 2013. Transaction is subject to approval for concentration from the Office of Competition and Consumer Protection.
Legal ground: Art. 56 section 1 point 1 of the Act on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies (Dziennik Ustaw of 2009 no 185, item 1439, as amended).
On the ground of the agreement PGE will acquire operating wind farms with installed capacity of 60.5 MW, with contracted off-take of electricity and certificates and pipeline of projects with planned capacity of approximately 555 MW, including 130 MW at an advanced stage of development. Energa Hydro Sp. z o.o. will acquire a wind farm with installed capacity of 51 MW and pipeline of wind projects with planned capacity of approximately 220 MW.
The aggregate value of the transaction amounts to approximately PLN 1 billion.
The acquisition of wind farms remains in line with the strategic development of PGE Capital Group in on-shore wind energy and strengthening of key competences in project management in this field. Transaction also includes takeover of DONG employees in Poland, who will significantly improve PGE Group’s potential in development of renewables segment.
It is assumed that the transaction will be finalised within the next few months of 2013. Transaction is subject to approval for concentration from the Office of Competition and Consumer Protection.
Legal ground: Art. 56 section 1 point 1 of the Act on public offering, conditions governing the introduction of financial instruments to organised trading, and public companies (Dziennik Ustaw of 2009 no 185, item 1439, as amended).
Signatures of persons representing the company
| Date | Name | Position and function |
|---|---|---|
| 2013-02-19 13:11:20 | Krzysztof Kilian | President of the Management Board |
| 2013-02-19 13:11:20 | Wojciech Ostrowski | Vice-President of the Management Board |