Genoa, 5 September 2013 - LUKERG Renew (a joint venture between ERG Renew and LUKOIL- Ecoenergo), having obtained approval from the Bulgarian Antitrust Authority, has completed the closing with Vestas for the purchase of a 100% stake in the Hrabrovo wind farm, located in the region of Dobrich (Bulgaria). The wind farm, which has been fully operational since March 2012, has a total installed capacity of 14 MW (7 WTGs Vestas V90-2 MW) and an expected average annual production of over 34 GWh. The value of the acquisition, in terms of Enterprise Value, is Euro 17.6 million (see Press Release dated 21 June 2013).
The electricity generated by the new facility will avoid CO2 emissions into the atmosphere of approximately 13 thousand tonnes per year.
This press release, issued at [....] (CEST) on 5 September 2013, has been prepared pursuant to the Regulation implementing Legislative Decree no. 58 dated 24 February 1998, adopted by CONSOB under resolution no. 11971 of 14 May 1999, as amended and supplemented. It is available to the public at the offices of Borsa Italiana S.p.A. and on the Company's website ( www.erg.it ) in the section "media/press releases".
ERG SpA is an Italy-based independent power producer active in the renewable energy sector, which generates energy mostly from wind, solar, hydroelectric and thermoelectric sources. The Company’s activities are divided into three segments: Non-Programmable sources, Programmable sources and Corporate. The Non-Programmable sources segment manages the operations of the wind power production; the Programmable sources segment includes the operations of the thermoelectric and hydroelectric power generation; and the Corporate segment focuses on the administrative activities. The Company operates through its subsidiaries in Europe, mainly in Italy, France and Germany.
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