ERG S p A : continues to expand in Poland. 24...

Genoa, 23 October 2020 - Through its subsidiary ERG Poland Holding, ERG has today finalised with the Vortex Energy group, a developer with ten years of experience in the Polish market, the acquisition of a 100% equity stake in EW piotrków kujawski SP. z.o.o., the owner of authorisations for the construction of a 24.5 MW wind farm in the north-central area of Poland. In addition to the acquisition of building authorisations, the agreement also includes a contract for the supply of services pertaining to the realisation of civil and electrical works.

The project, which in the last December 2019 auction was awarded a tariff corresponding to 222 PLN (approximately 50.5 Euro) per MWh, for a period of 15 years, is located in a particularly windy zone. Annual output when fully operational is estimated at about 76 GWh, corresponding to 3,100 equivalent hours and around 65 kt of avoided CO₂ emission. Construction is scheduled to commence in November 2020 and the facility is expected to come on stream by the end of the first quarter of 2022.

The overall investment for construction of the wind farm, including the price paid to acquire the building permits, amounts to approximately 36.5 million Euro.

ERG's Chief Executive Officer, Luca Bettonte, commented: 'This transaction allows us to pursue further expansion in Poland, a country of enormous potential considering the positive trend in wind-energy development regulations. The new project, together with the existing installed capacity and 36 MW currently under construction, will increase our presence in Poland to 142 MW. Moreover, the wind farm's location close to other ERG facilities will enable major synergies which, alongside the excellent wind conditions in the area, make this a high-quality project.'

Contacts:
Anna Cavallarin Head of Media Relations & Digital Channels - ph. + 39 010 2401804 mob. + 39 3393985139 - email [e-mail]
Emanuela Delucchi Head of Investor Relations & CSR - ph. + 39 010 2401806 - e-mail: [e-mail]
Matteo Bagnara IR - tel. + 39 010 2401423 - e-mail: [e-mail]