Polish Energy Partners S.A. (‘PEP’) hereby notifies that on 25th November 2013 PEP’s subsidiary – Grupa PEP – Farma Wiatrowa 1 Sp. z o.o. with its registered office in Warsaw (‘Company’) and Polenergia Obrót Sp. z o.o. with its registered office in Warsaw (‘Polenergia’) concluded an agreement on sales of electricity produced from RES – in Gawłowice Wind Farm (‘Agreement’).
Pursuant to the Agreement, the Company will sell electricity generated in Gawłowice Wind Farm to Polenergia.
The Agreement will be valid until the day falling 15 years from the date of the Company’s obtaining the license for production of electricity from RES (Gawłowice Wind Farm).
The Company’s remuneration under the Agreement will be calculated as a product of the amount of electricity sold and the rate specified in the Agreement. The estimated value of the Agreement during its term is approximately PLN 509 402 286.
Since the Agreement value exceeds 10% of PEP’s equities, it was classified as a material one.
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