Oslo /Milan 12 September 2022 Aega ASA (Aega) has, through a wholly owned subsidiary, signed the final transaction agreement to purchase Solar S.r.l. and Terrasol Società Agricola S.r.l. The two parks have a combined installed power of 2 MWp. Aega announced on16 March 2022 that it had entered into a mutually binding offer to acquire two solar parks inItaly . After tonights signing and according to the transaction agreement, Aega formally take ownership of the two solar parks from 1.January 2021 . Aega's funding of the purchase will be through existing cash.EUR 2,862,475 is the total purchase price. Outstanding combined debt at the same date is equal toEUR 2,334,500 . "As this acquisition process has taken somewhat longer than anticipated, I am pleased to see it through. This transaction shows that we can conduct acquisitions even in a somewhat more challenging investment environment, and we continue to increase our production capacity inItaly . With these two parks we are close to reach our short-term goal of 10 Italian solar parks, improved revenues and an increased number of producing assets", says Nils P. Skaset, CEO og Aega. One of the parks is located onSardinia , very close to Aega's existing parks. Through the acquisition, Aega has completed the plan of establishing a cluster of four solar parks onSardinia . With the Sicilian solar park Aega enters a new region very well suited for solar power production. "Solar" is in theSassari district ofSardinia . This park is an elevated ground-mounted solar park that benefits from the Conto Energia 4, with a feed-in tariff that ends 11 years from cut-off date. "Terrasol" is in theSiracusa district ofSicily and benefits from the Conto Energia 4, with a feed-in tariff that ends 10 years from cut-off date. 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. After the execution of this transaction Aega owns 9 solar parks inItaly with an aggregated capacity of 8.4 MWp. Fabio Buonsanti (COO in Aega) has led the process from Aega's side. He has been assisted by the Legal team of Deloitte Legal, led by the lawyersEmanuele Bottazzi andManuel Marangoni , and by the Tax M&A team of Torresi e Associati, headed byFederico Torresi ,Umberto Bordino andGiuseppe Cioffi . Our financial adviser in the transaction was 3FAdvisor, represented byAlessandro Betti . Aega also like to thank the Sellers, Italpower 1 S.p.A. and Italpower 2 S.r.l. for their efforts all along the way. "We take ownership of the parks immediately and the new assets will contribute to increased revenues for Aega. Over the last 18 months we have executed 7 acquisitions, with our relatively small team we have been able to conduct an aggressive growth strategy and at the same time meet the requirements for returns and IRR. This is something I am pleased to see," Skaset concludes. ENDS For further information Nils Petter Skaset, CEO ofAega ASA , tel: +47 951 88 154 e-mail: ceo@aega.no About AEGAAega ASA is a Norwegian listed investment company. The company focuses on acquisitions of smaller existing solar parks inItaly . In addition to being an industrial player inItaly , Aega also considers financial investments within the renewable energy sector.
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