Polenergia Spółka Akcyjna with its seat in Warsaw (‘Company’) hereby notifies that on 12th June 2015 the Company’s subsidiaries – (i) Polenergia Obrót S.A. (‘PO Obrót’) and (ii) Polenergia Farma Wiatrowa Mycielin Sp. z o.o. (‘Mycielin Wind Farm’) – concluded an agreement on sale of electricity produced from RES (‘Agreement’).
Pursuant to the Agreement, Mycielin Wind Farm is obliged to sell to PO Obrót electricity produced from RES, whereas PO Obrót is obliged to purchase this electricity from the Company.
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 and based on the stock market price of electricity.
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.
The estimated total (i.e. throughout its entire term) value of the Agreement is approximately PLN 492.6 million.
Since the value of the Agreement throughout its entire term exceeds 10% of the Company’s equities, it was classified as a material one.
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