Nordic Financials ASA — M&A Activity 2020

Dec 29, 2020

Update regarding acquisition of two solar parks

Update regarding acquisition of two solar parks

29 December 2020 – Further to the stock exchange announcement dated 3 December 2020 regarding Aega entering into a preliminary share purchase agreement with 3T S.r.l. to buy two 1 MWp solar parks in Sardinia, Italy. Aega expects that the final signing of the transaction agreement will take place within 31 January 2021.

Aega initially indicated that the final signing of the transaction would take place on or around 18 December 2020. However, an administrative delay from the seller’s bank, partly because of the holiday season, has delayed the signing.

“Both the seller and Aega are eager to finalise the deal, but we are relying on other parties to get some of the paperwork in order. As soon as the formalities are in place, we expect to finalise this transaction which will double the capacity of our wholly owned own solar park portfolio,” says Nils P. Skaset, CEO of Aega ASA.

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.

ENDS

For further information

Nils Petter Skaset, CEO of Aega ASA, tel: +47 951 88 154, e-mail: ceo@aega.no

About AEGA

Aega ASA is a Norwegian listed investment company. The company focuses on acquisitions of smaller existing solar parks (below 5MWp capacity) in Italy, following strict investment criteria. In addition to being an industrial player in Italy, Aega also considers financial investments within the renewable energy sector.