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Reported by Athena Investments on 5 November 2018

Sale of “Polczyno” wind farm

(Courtesy of pexels.com)

As anticipated in the Interim Financial Report for 2018, the Management of Athena has been pursuing opportunities for the disposal of the Company’s Polish assets and today signed an agreement for the sale of the wind farm located in Polczyno to a private Polish investor.

The wind farm consists of 2 Enercon turbines for a total net capacity of 1.6 MW and was commissioned in August 2006.

The total transaction price for the wind farm amounts to EUR 0.5M.

After the satisfaction of some conditions precedent, Athena expects to complete the transaction within Q4 2018.

Athena’s Chairman Luca Rovati comments: “Due to its small size, Polczyno wind farm has never been considered a strategic asset and after the disposal of our projects to EDF Energies Nouvelles in 2016, it was the only remaining asset owned by Athena in Poland. Athena will have the possibility of reinvesting the equity in other profitable and accretive assets.”

References

[1]

Athena Investments A/S. Press release - Sale of “Polczyno” wind farm. URL: https://athenainvestments.com/investor/media-and-events/. [Date Accessed: 06/11/2018].

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