Announcement – Regulated information
March 1, 2024
Following the announcement as of 20.12.2023, PPC announces the completion of the final sale purchase agreements and the final shareholder agreements between its subsidiary PPC Renewables and Intrakat Group for the joint development of a Renewable Energy Sources (RES) portfolio with a total capacity up to 2.7 GW, after the fulfillment of certain conditions precedent customary for these kinds of transactions set forth in the related agreements.
Within the context of this agreement, Intrakat Group transferred to PPC Renewables 6 RES projects, both in operation and in development, with a total capacity of 164 MW approximately.
At the same time, PPC Renewables entered with a 49% stake in holding companies of Intrakat Group, which own a portfolio of projects under development, with a total capacity of 1.6 GW, while the agreement can be expanded under certain conditions to include additional battery storage projects.
The transaction corresponds to an Enterprise Value of €100m for the percentage participation of PPC Renewables.
Deloitte Business Solutions S.A. acted as financial advisor and Reed Smith Poulopopoulos, Underhill and Partners as legal advisor to PPC in connection with the Acquisition.