Nordic Financials ASA — M&A Activity 2021

Jan 28, 2021

Update regarding acquisition of two solar parks

Update regarding acquisition of two solar parks

28 January 2021 – Further to the stock exchange announcement dated 29 December 2020 regarding the date for the final signing of the transaction agreement with 3T S.r.l. to buy two 1 MWp solar parks in Sardinia, Italy. New date for signing is expected on or around 28 February 2021.

Both the seller and Aega remain eager to complete the deal, but another administrative delay from the seller’s bank has postponed the signing further. The bank has informed Aega that it (the bank) has been involved in an acquisition process which meant that it put credit committee processes on hold until the acquisition was finalised. As the acquisition is now complete, the bank’s credit committee activities will be resumed.

Please note that according to the share purchase agreement, Aega will formally own the two solar parks in question from 1 January 2020. Hence, the delay will not have any impact on Aega’s revenues from the solar parks, provided that the final transaction agreement is signed as planned.

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