PHOENIX (PHO): Photon Energy announces the acquisition of 2 x 980 KWp PV projects in Slovakia - raport 20

The Management Board of Photon Energy a.s. announces that on 28 March 2011 Photon SK SPV 2 s.r.o., a fully-owned subsidiary of Photon Energy a.s., signed an agreement with ENERGY-REAL s.r.o. for the transfer of all project rights for a 980 KWp photovoltaic power plant located in Jovice in the Rožňava region of Slovakia.

On the same day Photon SK SPV 3 s.r.o., a fully-owned subsidiary of Photon Energy a.s., signed an agreement for the transfer of all project rights for a 980 KWp photovoltaic power plant located in Jovice in the Rožňava region of Slovakia with a private individual.

The acquisition price for each project was EUR 170,000 (CZK 4.17 million, PLN 682,000). Construction will start immediately and the planned completion and grid connection date for both projects is June 2011.

Photon Energy and its board members are unrelated to the principals of ENERGY-REAL s.r.o. and the private seller.

Legal basis: § 3 ust.2 point 2 of the Appendix 3 to Resolution No. 733/2009 of the Warsaw Stock Exchange Management Board dated 18 December 2009 “Current and Periodical Information in the Alternative Trading System"

Osoby reprezentujące spółkę:
Michal Gärtner - Chairman of the Board of Directors
Georg Hotar - Vice-chairman of the Board of Directors