Polish Energy Partners S.A. (‘Company’) hereby notifies that on 24th July 2014 the Company’s subsidiary, Grupa PEP – Farma Wiatrowa 4 Spółka z ograniczoną odpowiedzialnością (‘GPFW4’), and Siemens Sp. z o.o. (‘Siemens’) concluded an agreement on wind turbines delivery and installation (‘Agreement’).
The Agreement refers to the delivery, installation, commissioning and handing over to operation of 16 wind turbines of 2.3 MW each (36.8 MW in total).
The total estimated net value of the Agreement is EURO 40 547 000.00 (PLN 170 947 064).
The wind turbines delivery and installation is scheduled for 27th January–22nd August 2015.
The total amount of stipulated penalties potentially due to GPFW4 under the Agreement shall not exceed 30% of the Agreement value. GPFW4 is not entitled to claim any additional compensation.
Since the agreement value exceeds 10% of the Company’s equities, it was classified as a material one.