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    GNG   PLELKPE00014


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G-Energy S.A. (11/2021) Signs A Cooperation Agreement with Solar-Energy S.A

04/11/2021 | 11:21am EST

G-Energy S.A. with its seat in Warsaw (hereinafter: the Issuer, G-Energy) announced to the public that it signed a cooperation agreement with Solar - Energy S.A. based in Warsaw (hereinafter: Solar - Energy). Solar- Energy S.A. is the legal successor of Solar Energy Sp. z o.o. established in August 2009, and the transformation into a joint stock company took place in May 2011. In 2012, the Company launched a modern automated production line of the Swiss manufacturer MAG Switzerland AG. Solar-Energy PV modules have a power from 340Wp to 400Wp. The basic materials for the production of photovoltaic modules are: silicon photovoltaic cells, EVA film used to bond silicon cells to glass using the phenomenon of molecular bonding obtained at high temperature, and aluminum frames. The materials are delivered directly by manufacturers - world industry leaders, whose products are characterized by high quality and energy efficiency. The PV modules manufactured by the company are comparable in quality to the products of leading manufacturers of photovoltaic panels, and are significantly competitively priced and allow the production of PV modules that meet or exceed accepted industry standards. in the Agreement, the Issuer and Solar-Energy expressed their will to cooperate in order to jointly design and build photovoltaic farms in the segment of independent solar power plants. The partners undertook to jointly implement projects that will include, inter alia, on finding a location, designing, building and commissioning photovoltaic farms. TheIssuer and Solar-Energy also intend to implement farm projects as part of special purpose vehicles, including companies intended for resale or as part of investor's supervision. Theparties to the Agreement intend to start the first joint project in the current quarter. TheParties undertook to maintain mutual loyalty and to refrain from any activities that could hinder the achievement of the purpose of this Agreement, and undertook to maintain confidentiality. Theremaining terms of the Agreement performance do not differ from those commonly used in this type of contract. Management Board of G-Energy S.A. considered this contract as important because it starts cooperation with an entity with a strong and recognizable brand on the domestic market. Atthe end of 2020, the installed photovoltaic capacity increased by 259%, reaching the level of 3.96 GWp. Depending on forecasts, in 2021 the installed photovoltaic capacity is to reach from 5.5 GW to even 7 GW. Legalbasis: Art. 17 sec. 1 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6 /EC of the European Parliament and of the Council and Commission Directive 2003 /124 /EC, 2003/125 /EC and 2004/72 /EC (also known as MAR).

ę S&P Capital IQ 2021
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04/11G-Energy S.A. (11/2021) Signs A Cooperation Agreement with Solar-Energy S.A
04/06G-Energy SA Conclusion of Subcontracting Agreement with PGNiG Technologie S.A
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Sales 2019 12,7 M 3,13 M 3,13 M
Net income 2019 1,80 M 0,44 M 0,44 M
Net Debt 2019 0,05 M 0,01 M 0,01 M
P/E ratio 2019 28,8x
Yield 2019 -
Capitalization 35,3 M 8,67 M 8,68 M
EV / Sales 2018 0,67x
EV / Sales 2019 4,09x
Nbr of Employees 47
Free-Float 32,9%
Duration : Period :
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Managers and Directors
Grzegorz Pawel Cetera Chairman-Management Board
Jacek Janiszewski Vice Chairman-Supervisory Board
Jacek Jan Piechota Member-Supervisory Board
Marek Piotr Zajczyk Member-Supervisory Board
Grzegorz Kuligowski Member-Supervisory Board
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