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ERG SpA (ERG.MI)

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Latest Key Developments (Source: Significant Developments)

ERG Q1 group net result at replacement cost up at 57 million euros
Friday, 13 May 2016 01:47am EDT 

ERG SpA : Q1 consolidated EBITDA at replacement cost: 163 million euros ($185.38 million), an increase from 111 million euros in Q1 of 2015 . Q1 group net result at replacement cost: 57 million euros, 34 million euros in Q1 of 2015 .Confirms guidance for 2016 which forecasts, for the end of the year, EBITDA of 440 million euros and a net debt of 1.73 billion euros.  Full Article

ERG SpA proposes FY 2015 dividend
Wednesday, 23 Mar 2016 02:38am EDT 

ERG SpA:Proposes FY 2015 dividend of 1.0 euro per share, of which 0.50 euro as extraordinary dividend.  Full Article

ERG SpA unit ERG Renew buys from TCI Renewables 100 pct stake in Brockaghboy Windfarm Ltd
Sunday, 28 Feb 2016 07:00pm EST 

ERG SpA:Unit ERG Renew has acquired from TCI renewables 100 percent equity interest in Brockaghboy Windfarm Ltd.Brockaghboy Windfarm Ltd is a company holding authorisations to build a wind farm in Northern Ireland with the capacity of approximately 45 MW.Expects to commence construction of the wind farm during the second quarter of 2016 with a view to completion of construction at the end of the first quarter of 2017.Overall investment for implementation of wind farm is estimated at around 80 million euros which already includes initial amount paid to buy Brockaghboy Windfarm Ltd.Project meets conditions for accrediting under current incentive mechanisms (NIRO) and related "grace period", subject to draft bill being finalised by the UK parliament.Based on agreements with TCI Renewables, upon completion of construction and NIRO accreditation, possibility is provided for to sell Brockaghboy Windfarm Ltd to third parties.Unit to be entitled to submit to TCI Renewables a proposal for maintaining the ownership.Should TCI Renewables not accept the proposal, and only in the event that higher offers from third parties are received and accepted, Brockaghboy Windfarm Ltd will be sold.  Full Article

ERG SpA unit finalizes acquisition of windfarms in France and Germany, two operating companies
Tuesday, 2 Feb 2016 11:16am EST 

ERG SpA:‍ERG Renew finalizes agreement for acquisition from a fund managed by Impax Asset Management Group of 11 wind farms in France and of 6 wind farms in Germany.‍The acquired wind farms represent an overall capacity of 206 MW​.‍The acquisition also includes two operating companies, CSO Energy Sarl and CSO Energy Gmbh.CSO Energy Sarl and CSO Energy Gmbh provide operational and commercial technical assistance to "captive" and third-party wind power operators in France, Germany and Poland, serving about 800 MW.  Full Article

ERG SpA unit Erg Renew terminates joint venture with Lukoil
Wednesday, 23 Dec 2015 08:31am EST 

ERG SpA:Unit Erg Renew terminates joint venture Lukerg Renew with Lukoil​.  Full Article

ERG SpA incorporates ISAB Energy
Friday, 18 Dec 2015 06:23am EST 

ERG SpA:Says real effects of merger by incorporation of ISAB Energy Srl into ERG SpA commence from Dec. 18.  Full Article

ERG SpA unit gets 177.5 mln zloty loan for Radziejow wind farm
Tuesday, 3 Nov 2015 09:37pm EST 

ERG SpA:EW Orneta 2, owner of the wind farm located in the Polish municipality of Radziejow and fully owned by ERG Renew, signs financing agreement of 177.5 million zlotys for the Radziejow wind farm.  Full Article

ERG SpA unit to buy wind farms in France, Germany
Thursday, 15 Oct 2015 01:52am EDT 

ERG SpA:Unit ERG Renew has signed an agreement to buy 11 wind farms in France and 6 in Germany.The transaction's enterprise value amounts to around for 297 million euros.ERG Renew to buy wind farms from a fund managed by Impax Asset Management Group.  Full Article

ERG SpA buys hydroelectric power plant for 0.95 billion euros
Thursday, 6 Aug 2015 03:21pm EDT 

ERG SpA:Its subsidiary, ERG Power Generation, signed contract with E.ON Italia for acquisiton of a portfolio of hydroelectric powerplants in Italy.Portfolio consists of 16 power plants, 7 dams, 3 reservoirs and a pumping station. The estimated overall average annual output is around 1.4 TWh.Deal value is 0.95 billion euros.  Full Article

ERG Supply & Trading incorporation into ERG to be effective as of July 1
Monday, 29 Jun 2015 10:01am EDT 

ERG SpA:Enters final merger agreement for incorporation of unit ERG Supply & Trading SpA.Merger to be effective as of July 1.  Full Article

BRIEF-ERG sells 66 pct of Bioerg for 2.2 mln zlotys

* ERG said on Tuesday that it has negotiated the sale of 5.6 million shares of Bioerg to United SA for 2.2 million zlotys ($585,120)