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TerniEnergia Inks Preliminary Contract with NextPower II Alpha for the sale of 50% of JV Owner of Two Photovoltaic Plants
Wednesday 12 June 2019

12 June 2019 - Italian global technological enabler TerniEnergia has inked a preliminary contract for the sale to NextPower II Alpha S.r.l., an investment vehicle managed by the London merchant bank NextEnergy Capital, of 50% of the shares of the company NextPower II Prima Srl, TerniEnergia said.
The joint venture between TerniEnergia and Errenergia, which simultaneously signed the preliminary contract for the sale of its shares to the Purchasers, owns two photovoltaic plants in Puglia for a total installed capacity of about 1.9mw.
The consideration for the sale of the company's shares amounts to approximately EUR 1.3m (USD 1.47m), while the transaction also provides for the assumption by the Purchasers of financial debts linked to the plants for approximately EUR 4m.
The closing, scheduled for 8 August, is subject to conditions precedent typical for this type of transaction, including the release of waivers by the leasing companies that financed the JV.
For TerniEnergia, this transaction represents a further step forward in the implementation of the Recovery and Relaunch Plan aimed at completing the repositioning into a smart company and overcoming the current financial tension of the Group, on the basis of the strategic guidelines identified by the board of directors.
TerniEnergia (TER. MI), established in September 2005 and part of the Italeaf Group, is the first Italian global technological enabler, committed to bringing energy solutions and efficient recovery of integrated and sustainable resources to the world.
Organised into two strategic business lines (Assets and Smart solutions and services), with about 300 employees and a geographical presence worldwide, with operative and commercial offices, TerniEnergia develops innovative solutions, products and services based on digital and industrial technologies for the energy supply chain, grids, smart mobility, industrial automation and the recovery of marginal resources.
TerniEnergia, also through its subsidiaries (Softeco Sismat, Greenled Industry, GreenAsm, GreenAsm, Purify, Wisave, Ant Energy), pursues the objectives of increasing energy production from renewable sources, saving energy and reducing emissions and actively participates in the energy revolution of distributed power generation and smart grids, with innovative digital solutions.
TerniEnergia is a partner for large utilities, distribution operators and network operators, energy producers, public administrations, industrial customers and investors who intend to realise large projects for the production of renewable energy, modern systems and plants with high energy efficiency, solutions for the management and maintenance of infrastructure and electrical installations.
Italeaf SpA, established in December 2010, is a holding company and a business accelerator for companies and startups in the areas of innovation and cleantech.
Details
Date Published: 12/06/2019
Target: NextPower II Prima Srl/50% stake
Country: Italy
Deal Size: 1.47m (USD)
Sector: Alternative Energy
Type: Divestment
Financing: Cash
Status: Agreed
Vendor: TerniEnergia
Buyer: NextPower II Alpha S.r.l.
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