Nordic Financials ASA — M&A Activity 2021

Mar 30, 2021

Aega completes acquisition of 1 MWp solar park

Aega completes acquisition of 1 MWp solar park

30 March 2021 – Aega ASA (Aega) has today signed the final transaction agreement with Elektrosolar Service S.r.l. to buy the 1 MWp solar park Energylife S.r.l. in Emilia Romagna, Italy.

Aega announced on 9 March 2021 that it had entered into mutually binding offer to acquire the solar park with a total capacity of 1 MWp. According to the transaction agreement Aega formally took ownership of the solar park from 1 January 2021.

“With this transaction we show good pace and are passing a milestone of 5 MWp installed capacity in Italy. This park fits our investment portfolio well, and the transaction proves our ability to find and close parks at attractive terms” says Nils Petter Skaset, CEO of Aega.

The 1 MWp solar park is a greenhouse PV solar park, benefitting from Conto Energia 3. Feed-in tariff end is 10 years from cut-off date. The plant is expected to deliver an internal rate of return (IRR) in line with Aega's current assets and the group's overall investment target.

Aega’s chief operating officer, Fabio Buonsanti, has led the process from Aega's side. He has been assisted by our trusted partners from the legal team of Deloitte Legal Italy, led by lawyer Emanuele Bottazzi. Our financial adviser in the transaction was 3FAdvisor represented by Alessandro Betti.

We also like to thank the seller Elektrosolar Service S.r.l. represented by Mr. Luca Malaguti.

“With this purchase we consolidate our position as a challenger and niche player in the Italian solar market. A position we aim to develop further, as we continue to build and strengthen our Italian solar portfolio”, adds Aega CEO Nils P. Skaset.

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 in Italy. In addition to being an industrial player in Italy, Aega also considers financial investments within the renewable energy sector.