Report ESPI 3/2021
CONCLUSION OF A DEVELOPMENT AGREEMENT COVERING DEVELOPMENT OF AT LEAST FOUR PHOTOVOLTAIC FARM PROJECTS BY A SUBSIDIARY UNDERTAKING OF FARMY FOTOWOLTAIKI S.A. – COLUMBUS&FARMY SP. Z O.O. BERG HOLDING S.A.
The Management Board of Berg Holding S.A. with its registered office in Katowice [Company, Issuer] hereby informs that a partially owned subsidiary of Farmy Fotowoltaiki S.A., i.e. Columbus&Farmy Sp. z o.o. [C&F], in which Farmy Fotowoltaiki S.A. holds 50% of shares, concluded an agreement for the implementation of photovoltaic farm projects with a legal entity seated in Poland [Developer], on the basis of which the parties agreed on the terms of cooperation in the scope of the Developer’s provision of services to C&F, which include the preparation and implementation of at least four photovoltaic farms with a capacity of 1 MW each, at the locations indicated by C&F [Agreement].
By pursuant to the concluded Agreement, the Developer has agreed to assume all obligations aimed at comprehensive assistance in the implementation of the projects specified in the agreement, and in particular has agreed to perform a number of actions and prepare documentation related to the technical and legal preparation of the investment in the form of photovoltaic farms, and each farm will be implemented by a special purpose vehicle established for that purpose by C&F.
By virtue of proper provision of services by the Developer, C&F is obliged to pay the Developer the agreed remuneration in the amount equal to the product of the number of completed projects in the form of photovoltaic farms.
In the case of termination of the Agreement, C&F shall transfer to the Developer all rights [lease agreements, administrative decisions, rights to documentation, etc.] to the Project immediately upon termination of the Agreement, and the Developer shall return to C&F all amounts paid by C&F for the development of the Project within 7 days from the date of termination.
In the opinion of the Issuer’s Management Board, information on the conclusion of the Agreement is confidential information due to the fact that its execution will have a significant impact on the financial revenue of the Issuer’s Capital Group.