PRESS RELEASE - Halle (Belgium) - 4 July 2022 (08u30 CET)

Virya Energy will assess strategic options

for offshore wind energy

Virya Energy NV ("Virya"), the energy holding company in which Etn. Franz Colruyt NV "Colruyt Group") has a stake of 59,8%, is active in the development, financing, construction and operation of renewable energy sources, with a particular focus on offshore and onshore wind energy. Virya has the ambition to extend its scope to other technologies (such as solar and hydrogen) and new geographies.

The recent market situation, the Green Deal and geopolitical tensions (in particular the events in Ukraine) have an effect on the speed of the evolution of the offshore industry, resulting in:

  • a substantial increase in the size of offshore wind projects, which results in a higher financial exposure of investors as from the early stage of the projects;
  • an increased focus on renewable energy resulting in fierce competition and requiring higher investments (for example in the form of entry tickets for investors) for new offshore wind projects.

In light of recent speculation in certain media, Colruyt Group wishes to clarify its current position in relation to its participations in offshore wind energy. In particular, given the context described above, the board of directors of Virya has requested management to assess possible strategic development options such as partnerships and/or a partial divestment for the offshore wind energy activities of Virya, which it operates through its subsidiary Parkwind NV. Colruyt Group will as the case may be communicate on further evolutions in accordance with applicable regulations.

Contact information

For questions about this press release or for further information, you can send an e-mail to investor@colruytgroup.com.

About Colruyt Group

Colruyt Group operates in the food and non-food distribution sector in Belgium, France and Luxembourg with more than 700 own stores and approximately 580 affiliated stores. In Belgium, this includes Colruyt Lowest Prices, OKay, Bio-Planet, Cru, Dreamland, Dreambaby, Bike Republic and the affiliated Spar stores. In France, in addition to Colruyt stores, there are also affiliated Coccinelle, CocciMarket and Panier Sympa stores. The group is majority shareholder of The Fashion Society, which includes the fashion retail chains ZEB, PointCarré en The Fashion Store. JIMS operates fitness clubs in Belgium and Luxembourg. Solucious and Culinoa deliver food service and retail products to professional customers in Belgium (hospitals, SMEs, hospitality sector, etc.). The activities of Colruyt Group also comprise energy supply by DATS 24 in Belgium (fuels, natural gas and green energy) and France (fuels) and printing and document management solutions (Symeta Hybrid). The group employs over 32.000 employees and recorded a EUR 10,0 billion revenue in 2021/22. Colruyt is listed on Euronext Brussels (COLR) under ISIN code BE0974256852.

Virya Energy will assess strategic options for offshore wind energy

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Colruyt SA published this content on 04 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2022 06:22:05 UTC.