Acta S.p.A. Conditional Sale of Photovoltaic Projects

Acta S.p.A., the clean energy products company, is pleased to announce that it has completed the conditional sale, subject to due diligence, of two photovoltaic project consents totalling 1.5 MW.  The project consents, located in Toscana and developed by Acta between 2010 and 2011 have been sold to Fedi Impianti S.r.l., the Company‘s joint venture partner for its previous photovoltaic sector initiatives. On completion of the sale, Acta will retain an equity interest in the two projects, rather than receive a cash payment for the authorisations.

The projects are expected to be installed by Fedi during the first quarter of 2012 and then sold as completed, connected PV installations during summer 2012.  The installation of the projects will be financed by Fedi through Fedi‘s existing banking facilities without any funding or other financial support being provided by Acta.  As indicated, Acta will retain an equity interest post sale in the projects and expects this interest to be valued in the range of €130,000 to €160,000 upon completion and final sale of the projects to a third party.

This contract represents a continuation of Acta‘s strategy, announced in September 2011, to dispose of its remaining interests in the photovoltaic sector without further commitment of capital to these activities.  The Company expects that it will be able to announce further disposals in due course.