Closing of the Sale of Priolo Gargallo Thermoelectric Plant is completed

Genoa, October 17, 2023 - Through its subsidiary ERG Power Generation S.p.A., ERG today closed the sale of the entire share capital of ERG Power S.r.l., which owns the low-environmental-impact and high-efficiency Combined Cycle Gas Turbine (CCGT) cogeneration plant powered by natural gas located at Priolo Gargallo (Siracusa), to Achernar Energy S.p.A. (a subsidiary of Achernar Assets AG).

The operation was concluded in line with what was communicated on June 29, 2023 following the occurrence of the conditions precedent provided for in the sale agreement, including the completion of the golden power procedure at the Office of the Prime Minister.

ERG CEO Paolo Merli commented: “With this operation we complete the path of transformation towards a pure Wind & Solar business model, the primary objective of our Business Plan and a fundamental step towards achieving the Net Zero objective. On behalf of all of ERG, I would like to express heartfelt thanks and best wishes to all the people at ERG Power, who will be able, together with the new ownership, to successfully carry forward and further develop their current activities". 

This press release, issued on October 17, 2023, is available to the public at Borsa Italiana S.p.A., on the authorised storage mechanism eMarket Storage (www.emarketstorage.com) and on the Company's website (www.erg.eu) in the "Media/Press Releases" section.

Contacts:

ERG
Anna Cavallarin Head of External Communication - tel. + 39 010 2401804 cell. + 39 3393985139 e-mail: acavallarin@erg.eu
Matteo Bagnara Head of Investor Relations - tel. + 39 010 2401423 – e-mail: ir@erg.eu
www.erg.eu- @ergnow