EAM: Investigations against seller of P31 power plants
28th of July 2014
EAM Solar ASA has been made aware of an investigation by the public prosecutors' office in Milan against employees of the Seller of the P31 portfolio companies. EAM has not received any information concerning the investigation of the Seller's employees.
EAM Solar ASA discovered that the bank accounts of the acquired P31 companies had been restricted by court order but has not received any information or documentation on this fact.
EAM Solar discovered on its own initiative that according to the online portal of the GSE, the Italian governmental agency responsible for the Feed-in Tariff (FIT) contracts, the contractual status of the FIT contracts for certain of the power plants acquired as part of the P31 portfolio has changed from active to suspended late on Friday the 25th of July. EAM Solar has not received any notification or information from the GSE concerning any suspension or change in status of any of the FIT contracts.
EAM has initiated the necessary formal actions in order to receive all appropriate information from the relevant authorities and expect to be able to revert to the market with more precise information shortly.
For information, please contact:
Audun W. Iversen, CEO, phone +47 916 16 250, audun@eamsolar.no
Viktor E Jakobsen, Executive Director, phone +47 9161 1006, viktor@eamsolar.no