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22/10/2019 21:50

Current report 31/2019

The Management Board of Polenergia SA (the “Issuer”) informs that on October 22, 2019, its subsidiary Polenergia Farma Wiatrowa 17 Sp. z o. o. (“the Company”) concluded with ING Bank Śląski SA (“the Bank”) a loan agreement regarding term financing in the amount of up to PLN 40 million and a loan for servicing the tax on goods and services amounting up to PLN 4.5 million (“Agreement”).

Pursuant to the concluded Agreement, the Bank will grant the Company a loan, among others for refinancing of expenditure for the construction of 8 photovoltaic farms with a total power output of about 8 MW, located in the Lubuskie Voivodeship in the Sulechów commune, amounting up to PLN 15.5 million (“Project 1”). The planned date of Project 1 commissioning and the utilization of funds from the loan is January 2020.

In addition, the Agreement provides for financing for the construction of further photovoltaic farms with a total power output of up to 12 MW and VAT servicing in the amount not exceeding PLN 29 million, subject to, inter alia, winning of the auction for renewable energy sources and making the investment decision (“Project 2”).

The Agreement provides for a maximum loan repayment period of up to June 2034 in relation to Project 1 and up to June 2035 in relation to Project 2. The loan interest rate equals 3M WIBOR rate plus the bank’s margin.

legal basis: article 17 clause 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/1250/EC and 2004/72/EC (O.J. of the EU. L. of 2014 No. 173, page 1 as amended)

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