CEZ A.S.

M&A Activity • Dec 17, 2021

ELEVION COMPLETED THE ACQUISITION OF THE GERMAN COMPANY BELECTRIC,STRENGTHENING ITS POSITION IN THE PHOTOVOLTAIC SECTOR

Today, the purchase of European assets of Belectric was settled byElevion and RWE. The acquisition of the 100% interest in Belectric GmbHand in other parts of Belectric Solar _amp; Battery Group is in line withElevion's strategy, which aims to cover an entire chain of activitiesrelated to ESCO solutions that significantly support the sustainablegrowth and sustainability of buildings and facilities.

The subject of the acquisition is German Belectric GmbH and other partsof Belectric Solar _amp; Battery Group, such as Belectric France, BelectricUK, and Belectric Italy, as well as Belectric Israel. In the Germanmarket, the company develops photovoltaic projects and subsequentlysells them on the market to investors by offering them at the same time,EPC (engineering, procurement and construction) and O_amp;M services at thestage of the servicing, maintenance, and monitoring of the power plantoperated. In the Netherlands, Denmark and Israel Belectric is offeringEPC and O_amp;M while in other markets (France, the United Kingdom, Italy)it is mainly active in O_amp;M.

Belectric Group was established in 2001 in Germany. Today, 20 yearsafter its establishment, the whole group employs nearly 500 experts andis among the world's leading players in designing and constructingphotovoltaic power plants. It was among the pioneers in developingsystem designs for large ground-mounted plants in the early days ofsolar EPC and the first in the world in the solar sector to achieveinstalled capacity of 1 GW. Overall, the Belectric Group has completedmore than 400 photovoltaic projects with a capacity close to 4 GW and itprovides maintenance services to power plants with a capacity of 2.2 GW.