Polish Energy Partners S.A. (‘Company’) hereby notifies that on 24th July 2014 the Company’s subsidiary – Grupa PEP – Farma Wiatrowa 4 Spółka z ograniczoną odpowiedzialnością (‘GPFW4’) – concluded an agreement with a consortium of companies: Erbud S.A. and Przedsiębiorstwo Budownictwa Drogowo-Inżynieryjnego S.A. (‘Agreement’).
The Agreement refers to execution by the contractors to the benefit of GPFW4 of: complex works on construction of foundations for wind turbines, adaptation of approach roads to oversize transport, modernization of the existing roads, construction of service roads and assembly platforms for the purposes of implementation of Skurpie Wind Farm.
The net value of the Agreement concluded by GPFW4 is PLN 26 105 920.01.
The total amount of stipulated penalties potentially due from the contractors under the Agreement shall not exceed 30% of the Agreement value.
Since the total value of the Agreement exceeds 10% of the Company’s equities, it was classified as a material one.
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